Mortgage
Finally, a Pause in Mortgage Rate Hikes
After several sharp spikes and nearly doubling over the last year, mortgage rates took a breather this week, decreasing from 5.81% the previous week to 5.7% this week, according to the latest Primary Mortgage Market Survey (PMMS) from Freddie Mac, released Thursday. Key findings: 30-year fixed-rate mortgage averaged 5.70% with an average 0.9 point as […]
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
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
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 […]
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
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
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
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
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
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