Mortgage rates surged for a second week as the economy showed continued strength. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.32%, up from 6.12% the week prior. This is the largest one-week increase since April. Freddie Mac Chief Economist Sam Khater attributed it to the “stronger-than-expected” September jobs report. Consumer…
Mortgage rates changed course, increasing last week as expectations for Central Bank rate cuts change. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.12%, up from 6.08% the week prior. A year ago at this time, the 30-year fixed-rate mortgage averaged 7.49%. Fifteen-year loans also rose, up nearly 10 bps to…
Mortgage rates reached a multi-year low, though they barely budged from the week prior. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.08%, down slightly from 6.09% the week prior. A year ago at this time, the 30-year fixed-rate mortgage averaged 7.31%. Fifteen-year loans saw a slight increase, however, up to…
Mortgage rates are hovering just above 6% following the Fed’s historic rate cut, and borrowers can expect more cooling through the year. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.09%, down from 6.20% the week prior. A year ago at this time, the 30-year fixed-rate mortgage averaged 7.19%. 15-year loans…
Rocket Pro TPO is the first company to raise the national conforming loan limit, up from $766,550 to $802,650. The new limit for Alaska and Hawaii is $1,203,975. Buyers can now access 2025’s limits for conforming loans, which could mean less money down, more cash out, or better pricing for clients who need loans above…
Mortgage rates hit an 18-month low as new inflation data solidified a quarter-point rate cut at the next FOMC meeting. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.20%, down 15 bps from the week prior. This is its lowest point since February 2023. A year ago at this time, the…
Former PNC exec Diana Reid has been selected by Freddie Mac’s Board of Directors to serve as the company’s new CEO. “It is an honor to join Freddie Mac and lead the company as it carries out its vital role in the housing finance market,” Reid said. “I look forward to working with the Board,…
Mortgage rates held steady last week as markets awaited the release of the highly anticipated August jobs report. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.35%, the same as last week. A year ago at this time, the 30-year FRM averaged 7.12%. The 15-year fell from 5.51% to 5.47%. A…
Mortgage rates slipped more than 10 basis points last week as the market anticipates a rate cut from the Central Bank in the coming weeks. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.35%, plunging from the week prior’s 6.46%. A year ago at this time, the 30-year FRM averaged 7.18%….
Mortgage rates dipped slightly last week and analysts expect them to gradually descend further through the year. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.46%, dipping from the week prior’s 6.49%. A year ago at this time, the 30-year FRM averaged 7.23%. The 15-year also fell from 5.66% to 5.62%….
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