Rate Locks Ticking Up As Mortgage Rates Fall
As mortgage rates fall, prospective homebuyers have been locking in rates when looking for a home while current homeowners have been scouting out refinances at the highest rate in nearly two years.
Average Mortgage Ease to Lowest Level Since Early April
Yields have mostly eased recently following some economic data showing slower growth, which could help keep a lid on inflationary pressures and convince the Federal Reserve to begin lowering its main interest rate.
Mortgage Rates Dip Below 7 Percent
The average rate on a 30-year mortgage dipped this week to just below 7 percent for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties.
Fannie, Freddie Economists Predict Only Small Uptick in Home Sales
The big mortgage rate drops that are helping the real estate industry ring in the new year shouldn’t be taken as a sign that home sellers will come out of the woodwork in 2024, the top economists at two mortgage market heavyweights say.
Freddie Mac Launches Down Payment Aid Navigator for Lenders
Just as the salary needed to afford the median-priced home in Connecticut’s two biggiest markets jumped over 30 percent, mortgage-buyer Freddie Mac announced a new tool Monday that can help lenders match borrowers to down payment assistance programs.
Average Home Mortgage Rate Reaches Highest Point Since 2000
Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years.
Mortgage Rates Hit New 22-Year High
The average long-term U.S. mortgage rate climbed further above 7 percent this week to its highest level since 2001, another blow to would-be homebuyers grappling with rising home prices and a stubbornly low supply of properties on the market.
Mortgage Rates Hit 20-Year High
The average long-term U.S. mortgage rate climbed this week to its highest level in more than 20 years, grim news for would-be homebuyers already challenged by a housing market that remains competitive due to a dearth of homes for sale.
Mortgage Rates Surged to Nearly 7 Percent This Week
Nonetheless, mortgage applications actually increased slightly from the prior week, driven by a rise in FHA and VA purchase applications.
Mortgage Rates Hit Three-Month High
The average long-term U.S. mortgage rate hit a three-month high this week, reflecting higher Treasury yields and expectations that the Federal Reserve will continue to raise its benchmark rate and keep it there until inflation recedes.
Mortgage Rates Dip for Third Week in a Row
The average long-term U.S. mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago.
Mortgage Rates Continue Their Upward Climb
Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market.
Mortgage Rates Bounce Up to Highest Level in Weeks
The average rate on a 30-year, fixed-rate mortgage has increased to the highest level since late June, according to Freddie Mac.
Mortgage Rates Under 5 Percent for First Time Since April
The average long-term U.S. mortgage rate fell below 5 percent for the first time in four months, days after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control.
Mortgage Market Opens for Gig Workers
Fannie Mae and Freddie Mac shut many self-employed buyers out during the pandemic. But now, those rules are gone and some lenders, perhaps sensing a grand opportunity to boost market share, are targeting gig workers directly.
Despite Rate Hikes, U.S. Homebuyers Show ‘Resiliency’
Even as mortgage interest rates hit levels not seen since the fall of 2009, early indications show America’s prospective homebuyers appear to be adapting, not quitting the market.
Loan Applications Show Home Demand Has Held Steady
Demand for purchase mortgages appears to be holding steady even as interest rates rapidly rose to nearly 4.5 percent over the last month.
Second-Home Demand Retreats as Mortgage Rates Rise
Demand for second-home mortgages took a nosedive in February, a new report says.
Biden Admin to Release Plan to Stop Bias in Home Appraisals
Vice President Kamala Harris will announce an action plan to stop racial discrimination in the appraisal of home values, according to senior Biden administration officials.
Mortgage Rates Jump Past 4 Percent
The era of low mortgage rates appears to be over.
