Rates
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
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% […]
Mortgage Rates Start Lower, But Could See Some Volatility This Week
Mortgage rates have been fairly flat in the bigger picture, but each passing day continues to bring small scale movements. This is almost always the case, even if rate quotes don’t seem to be changing. One key reason for this is the difference between “note rate” and “effective rate.” The former is the rate that […]
Rates Move Swiftly Lower Due to New Covid Variant; Delinquencies Remain Elevated
Just when it looked like the current week would fizzle out on a negative note for rates, our least favorite market mover is back in the news. B.1.1.529 (designated now as “Omicron”), a new covid variant hit the market like a ton of bricks on Friday morning. 48 hours earlier, Google had never heard of […]
Delinquency Rates Drop Hundreds of Basis Points Year-Over-Year
The national delinquency rate has seen a massive improvement over the last year. The Mortgage Bankers Association (MBA) reports that, at the end of the third quarter of 2021, the rate was 4.88 percent of all outstanding loans. This is 59 basis points (bps) lower than the rate in the second quarter and a decline […]
Instant Reaction: Mortgage Rates, November 4, 2021
The 30-year fixed mortgage rate fell to 3.09% this week from 3.14%, good news for homebuyers and homeowners who want to refinance. www.nar.realtor – Research
Mortgage Rates Continue Gradual Recovery
Mortgage rates hit 6 month highs by the end of last week, but they’ve been cautiously recovering since then. The rebound traces a similar pattern in the bond market, as is typically the case considering lenders rely on bonds as the primary ingredient in the interest rate recipe. In simpler, more normal times, bonds would […]
Another Day; Another Long-Term High For Rates
Mortgage rates haven’t really been able to catch a break recently. This week is shaping up to be one of the worst since March. Since then, only 2 other weeks have been worse and they both occurred in the past month. In and of itself, today’s jump in rates wouldn’t be too troubling, but when […]