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.
March Inflation Reading Means ‘Bad News’ for Mortgage Rates
Consumer inflation remained persistently high last month, boosted by gas, rents, auto insurance and other items, the government said Wednesday in a report that will likely give pause to the Federal Reserve as it weighs when and by how much to cut interest rates this year.
Fannie Mae Predicts Mortgage Rates Below 6 Percent This Year
Economists at government-owned mortgage-buying giant Fannie May say they think residential mortgage rates might drop below 6 percent this year, sometimes seen as a critical horizon to get home sellers back on the market.
Glaring Need for Housing Construction Underlined by Century 21 CEO
The highest mortgage rates in more than two decades are keeping many prospective homebuyers out of the market and discouraging homeowners who locked in ultra-low rates from listing their home for sale.
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.
Powell at Jackson Hole: Economy Could Require More Fed Hikes
The continued strength of the U.S. economy could require further interest rate increases, Federal Reserve Chair Jerome Powell said Friday in a closely watched speech that also highlighted the uncertain nature of the economic outlook.
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.
Study Pinpoints Magic Mortgage Rate to Spur Sales
A new survey from economists at listings portal Zillow adds more data behind the idea that 5 percent is the magic average mortgage interest rate for unlocking the housing market.
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.
Study Says ‘Nearly Everyone’ Has a Mortgage Rate Below 6 Percent
A nationwide analysis by researchers at brokerage and listings portal Redfin has found that 4 in 5 residential mortgage borrowers have an interest rate below 5 percent, and even more have a rate below 6 percent.
Analysis: Home-Buying Costs to Soar If Debt Limit Talks Fail
A new analysis by economists at listings portal Zillow has calculated that the monthly mortgage payment for the median-priced home would rise 22 percent by September if Republicans in Congress refuse to raise the debt ceiling within the next few weeks.
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.
Analysis: Lower Rates Boost Size of What Homebuyers Can Afford
Recent declines in mortgage rates have helped improve affordability somewhat according to a new analysis by economists at real estate listings portal Zillow.
Strong Jobs Report Could Push Up Mortgage Rates
The U.S. economy put in a surprisingly strong showing in in January, adding 517,000 new jobs despite layoffs in tech firms, on Wall Street and in the mortgage industry. And while experts say it’s a sign the country is on a path to a “soft landing” from 2022’s tumultuous inflation, it could push mortgage rates up.
Mortgage Rates-Bond Yield Gap Perplexes Economists
If the normal spread between the interest rates on 10-year Treasury notes and mortgage bonds existed today, the average 30-year mortgage rate could be as low as 5.7 percent.
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.
Two Fed Officials Want Rates at 5 Percent Through 2023
Two Federal Reserve officials said Monday that they favor raising the Fed’s key rate to roughly 5 percent or more and keeping it at its peak through next year – longer than many on Wall Street have expected.
