Average mortgage rates increased again last week, worsening affordability and setting the market up for a slump as the spring buying season progresses. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.17%, jumping from the week prior’s 7.1%. A year ago at this time, the 30-year FRM averaged 6.43%. The 15-year…
Analysis from the Federal Housing Finance Agency finds that, while U.S. mortgage rates are not historically high, the gap between the rates existing homeowners are paying and would-be home buyers are facing has reached a point not seen in decades. The result is a “lock-in effect” that’s keeping the housing supply extremely tight, a problem that President…
Mortgage applications slipped again as rates stayed put in the high 6%s, keeping affordability at the forefront of buyers’ minds. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index — a measure of mortgage loan application volume — decreased by 0.6%, following the week prior’s 0.7% slip. Adjusted purchase applications slipped…
Mortgage rates inched up to a two-month high last week, putting pressure on hopeful spring homebuyers. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.94%, up from the week prior’s 6.90%. A year ago at this time, the 30-year FRM averaged 6.65%. This is the fourth consecutive week of increases. The…
Average mortgage rates jumped another 10 bps last week, edging closer to 8%. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.79%, up from 7.63%. A year ago at this time, the 30-year FRM averaged 7.08%. The 15-year fixed-rate rose to 7.03% from 6.92%. A year ago, it averaged 6.36%. “For…
Mortgage applications went up last week, benefitting from VA and FHA activity. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – increased by 0.9%, improving slightly after the week prior’s 4.4% decline. This week’s data includes an adjustment for the July 4th holiday….
By SCOTT KIMBLER Prices of single-family homes and rental costs continue to rise in the United States. But officials in China have been lowering interest rates and over the last few months, the Asian county has seen a drop in property price tags as well. Here in the U.S., many companies—including Bloomberg—are reacting by predicting…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!