Mortgage rates are marching towards 7% again as inflationary pressures threaten their stability. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.88%, up from the week prior’s 6.82%. A year ago at this time, the 30-year FRM averaged 6.27%. The 15-year fixed rate increased from 6.06% to 6.16%. A year ago,…
Mortgage rates were basically stagnant last week, staying put in the upper-6% range yet again. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.82%, up just slightly from the week prior’s 6.79%. A year ago at this time, the 30-year FRM averaged 6.28%. The 15-year fixed rate also fell from 6.11%…
Mortgage rates broke a month-long upward streak, deflating for the first time in weeks and resulting in a purchase demand boost. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.88%, down from the week prior’s 6.94%. A year ago at this time, the 30-year FRM averaged 6.73%. This is the first…
Mortgage rates reversed a one-time uptick and fell last week, giving potential buyers even more breathing room. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.63%, down from the week prior’s 6.69%. A year ago at this time, the 30-year FRM averaged 6.09%. Rates have now been largely stable, within the…
By PATRICK LAVERY Seven weeks ago, the 2023 slate of policy meetings for the Federal Open Market Committee concluded with members voting to leave the key interest rate unchanged for a third straight time. However, anyone hoping that 2024 will begin with some movement in a downward direction is likely to be disappointed this week….
Pending home sales soared in December, proving that price-sensitive buyers are jumping at the opportunity to lock in sub-7% rates. NAR’s Pending Home Sales Index rose by 8.3% month-over-month — their biggest increase since 2020 — to a reading of 77.3 in December. An index of 100 is equal to the level of contract activity…
Mortgage rates have slipped to their lowest levels since May. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.60%, down from the week prior’s 6.66%. A year ago at this time, the 30-year FRM averaged 6.15%. The 15-year fixed fell to 5.76% from 5.87%. A year ago, it averaged 5.28%. “This…
Mortgage rates remained basically unchanged last week as markets adjust to economic expectations for 2024. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 6.62%, inching up from the week prior’s 6.61%. A year ago at this time, the 30-year FRM averaged 6.48%. This is the first increase since October. Rates have…
The 30-year fixed rate mortgage fell nearly 20 bps in one week, almost hitting 7%. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.03%, down from the week prior’s 7.22%. A year ago at this time, the 30-year FRM averaged 6.33%. It is now down nearly 80 bps in the last…
Mortgage rates slipped for a fifth consecutive week, spurring a boost in purchase activity. Officials at Freddie Mac reported Thursday that the 30-year fixed-rate mortgage averaged 7.22%, down from the week prior’s 7.29%. A year ago at this time, the 30-year FRM averaged 6.49%. The 15-year fixed rate fell to 6.56%% from 6.67%. A year…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!