Mortgage

Housing Affordability Drops as Mortgage Payments Spike 51% From May 2021

Compared to one year ago, affordability fell in May as the monthly mortgage payment climbed 51% and median family income rose by 4.5%. www.nar.realtor – Research

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Instant Reaction: Mortgage Rates, June 30, 2022

The 30-year fixed mortgage rate dropped to 5.7% from 5.81% the previous week. Although rates are significantly higher than last year, they are still historically low, remaining below 6%. www.nar.realtor – Research

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Mortgage Applications Decrease During Last Week of May

Mortgage applications decreased 2.3% from one week earlier, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA), released Thursday. The drop marks the third straight week of declines, indicating that market headwinds continue to hinder both refinancing and new mortgages. Key findings: The Market Composite Index, a measure of mortgage loan […]

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Instant Reaction: Mortgage Rates, May 19, 2022

Following the 10-year Treasury yield trend, the 30-year fixed mortgage rate fell to 5.25% from 5.30% the previous week. www.nar.realtor – Research

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Instant Reaction: Mortgage Rates, April 14, 2022

Mortgage rates surged to 5% for the first time in over a decade (since February 2011). Elevated inflation continues to push up mortgage rates. www.nar.realtor – Research

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Instant Reaction: Mortgage Rates, April 07, 2022

The 30-year fixed mortgage rate rose to 4.72% from 4.67% the previous week; mortgage rates have increased by 1.5 percentage points since the beginning of the year, hurting affordability. www.nar.realtor – Research

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Instant Reaction: Mortgage Rates, March 31, 2022

Mortgage rates surged for the fourth straight week, rising to 4.67% from 3.76% in the first week of March 2022, significantly increasing borrowing costs for buyers. www.nar.realtor – Research

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Instant Reaction: Mortgage Rates: February 3, 2022

Mortgage rates remained unchanged from the previous week at 3.55%. Following the trend of the 10-year Treasury yield, rates took a pause from their recent rally. www.nar.realtor – Research

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Instant Reaction: Mortgage Rates, January 27, 2022

Mortgage rates didn’t change much this week after moving upwards for the last 5 straight weeks. The 30-year fixed mortgage rate fell to 3.55% from 3.56% the previous week. www.nar.realtor – Research

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Mortgage Rates Inch Up Following Fed Policy Changes

The 30-year fixed-rate mortgage (FRM) averaged 3.12% for the week ending Dec. 16, according to Freddie Mac’s latest Primary Mortgage Market Survey®. Mortgage rate details: The 30-year fixed-rate mortgage averaged 3.12% with an average 0.6 point, up from last week when it averaged 3.10%. Last year, the 30-year FRM averaged 2.67%. The 15-year fixed-rate mortgage averaged 2.34% […]

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