As we turn the page and begin a new month, we see mortgage rates continuing to rise this week, and according to Freddie Mac’s survey, the average rate for a 30-year fixed mortgage has broken above 7 percent for the first time in 20 years. Take heart though, history shows us that it could be
Not surprisingly, mortgage rates resumed their steady march higher last week, according to Freddie Mac’s latest survey of average rates. We’re continuing to see the economy shift. On the one hand, data is showing strong job and wage growth but uncertainty lingers due to high inflation, fears of recession, and rebalancing in the housing market.
Continued economic uncertainty led to a slight pullback in mortgage rates last week, according to Freddie Mac’s weekly survey of average rates. Yes, rates remain at levels considerably higher than they were this time last year; however, this pullback offered borrowers a little respite. And remember, if you plan to buy soon we have some
Continued uncertainty and volatility in both stock and bond markets have pushed mortgage rates even higher. According to Freddie Mac’s survey data of average rates, the range of rates for a 30-year fixed rate mortgage has more than doubled since this time last year. Ouch! As we all know, though, people are still buying, selling,
Even as we see the average mortgage rates continue their trend higher, according to Freddie Mac’s weekly survey, data continues to show the strength of the housing market. Yes, there is still re-balancing happening in housing; and yes, of course rising rates are impacting affordability and buyers’ decisions. However, people are still buying homes, selling
Thanks to hotter-than-expected inflation numbers last week, mortgage rates continued their climb to levels not seen in 14 years, according to Freddie Mac’s latest survey of average rates. Despite higher rates, buyers are still in the market for homes and inventory remains tight. Remember, there are always various financing options available when it comes to
Let me just say that Tuesday’s plummet by the Dow Jones Industrial Average (of nearly 1,300 points) and S&P averages on the stock market was not what I was expecting with the release of the latest consumer inflation numbers. However, I guess traders did not expect core inflation – which leaves out food and energy
As we’ve been pointing out, the housing market is shifting and the data I’m seeing continues to provide proof. Realtor.com reported that the time homes for sale are on the market increased 5 days more than last year at the same time, however, homes are still selling 22 days faster than they did pre-pandemic. Home
Mortgage rate volatility is still a thing as we saw rates whipsaw higher last week. Average rates as reported by Freddie Mac’s weekly survey showed a .42 percent increase for the 30-year fixed and .30 percent rise for the 15-year, which is a greater than typical move in rates. The data coming in continues to
Believe it or not, I actually have some good news to report when it comes to inflation and mortgage rates. First, mortgage rates improved a little last week, according to the latest survey of average mortgage rates reported by Freddie Mac. Now, as we know rates can be volatile and I don’t believe this is
