Mortgage rates increase for the fifth straight week
Mortgage rates increase for the fifth straight week
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Analysis and Data
Freddie Mac: Mortgage Rates Jumped Last Week
Doug Page
Jul 14, 2022
30-year fixed mortgage moves up to 5.51%
In a possible signal of what might be coming, given that inflation is now 9.1%, the 30-year, fixed-rate mortgage jumped 5.51% last week, up from 5.3%, according to Freddie Mac’s ...
Analysis and Data
Freddie Mac: Mortgage Rates Jumped Last Week
Doug Page
Jul 14, 2022
30-year fixed mortgage moves up to 5.51%
In a possible signal of what might be coming, given that inflation is now 9.1%, the 30-year, fixed-rate mortgage jumped 5.51% last week, up from 5.3%, according to Freddie Mac’s ...
Mortgage rates rose for the fifth consecutive week, reaching yet again the highest level since the financial crisis. The average rate on a 30-year fixed mortgage climbed to 6.29%, according to a survey of lenders released Thursday by Freddie Mac. It was the second week in a row that rates topped 6%. The last time rates were this high was October 2008, when the U.S. was deep in recession. The sharp rise is another product of the Federal Reserve’s campaign to curb decades-high inflation. On We...
Mortgage rates rose for the fifth consecutive week, reaching yet again the highest level since the financial crisis. The average rate on a 30-year fixed mortgage climbed to 6.29%, according to a survey of lenders released Thursday by Freddie Mac. It was the second week in a row that rates topped 6%. The last time rates were this high was October 2008, when the U.S. was deep in recession. The sharp rise is another product of the Federal Reserve’s campaign to curb decades-high inflation. On We...
PMMS shows the 30-year fixed-rate mortgage is 5%.
PMMS shows the 30-year fixed-rate mortgage is 5%.
Homebuyers continue showing resilience amid mortgage rate increase but Freddie Mac report suggests purchase demand will soon wane.
The post Purchase mortgage rates increase to 5.30% appeared first on HousingWire.
Homebuyers continue showing resilience amid mortgage rate increase but Freddie Mac report suggests purchase demand will soon wane.
The post Purchase mortgage rates increase to 5.30% appeared first on HousingWire.
Meanwhile, adjustable-rate mortgages saw their largest volume share since 2019.
Meanwhile, adjustable-rate mortgages saw their largest volume share since 2019.
Canada’s national average home prices fell for the fifth consecutive month in July, and is now down 23% since reaching a peak in February. The average price stands at $629,971, down 1.7% from June and 5% compared to a year ago, according to new data released by the Canadian Real Estate Association (CREA). National home sales were also down, posting a 5.3% month-over-month decline and a 29.3% drop year-over-year. “July saw a continuation of the trends we’ve been watching unfold for a few...
Canada’s national average home prices fell for the fifth consecutive month in July, and is now down 23% since reaching a peak in February. The average price stands at $629,971, down 1.7% from June and 5% compared to a year ago, according to new data released by the Canadian Real Estate Association (CREA). National home sales were also down, posting a 5.3% month-over-month decline and a 29.3% drop year-over-year. “July saw a continuation of the trends we’ve been watching unfold for a few...
In late March, 30-year mortgage rates experienced their largest 3-month increase since May 1987 – up 1.56 percentage points since the end of 2021. A recent chart shared on twitter by Len Kiefer, Deputy Chief Economist at Freddie Mac, who helps “people understand the economy, housing, and mortgage markets” illustrates these increases going back to [...]
The post Mortgage Rates See Largest 3-Month Increase Since 1987 appeared first on Real Estate Investing Today.
In late March, 30-year mortgage rates experienced their largest 3-month increase since May 1987 – up 1.56 percentage points since the end of 2021. A recent chart shared on twitter by Len Kiefer, Deputy Chief Economist at Freddie Mac, who helps “people understand the economy, housing, and mortgage markets” illustrates these increases going back to [...]
The post Mortgage Rates See Largest 3-Month Increase Since 1987 appeared first on Real Estate Investing Today.
After mortgage applications had been coming in at their most sluggish pace in years, activity increased for two consecutive weeks. However, that amount is still well below the level from a year ago, the Mortgage Bankers Association said.The MBA’s Market Composite Index, a measure of weekly application volumes based on surveys of MBA members, rose a seasonally adjusted 4.2% for the period ending June 17. But compared to the same seven-day stretch in 2021, volumes were 53% lower. The upward ...
After mortgage applications had been coming in at their most sluggish pace in years, activity increased for two consecutive weeks. However, that amount is still well below the level from a year ago, the Mortgage Bankers Association said.The MBA’s Market Composite Index, a measure of weekly application volumes based on surveys of MBA members, rose a seasonally adjusted 4.2% for the period ending June 17. But compared to the same seven-day stretch in 2021, volumes were 53% lower. The upward ...
The Freddie Mac PMMS shows purchase mortgage rates averaged 5.78% this week, compared to 5.23% a week ago and 2.93% a year ago.
The post Rates jump to 5.78%, the largest 1-week increase since 1987 appeared first on HousingWire.
The Freddie Mac PMMS shows purchase mortgage rates averaged 5.78% this week, compared to 5.23% a week ago and 2.93% a year ago.
The post Rates jump to 5.78%, the largest 1-week increase since 1987 appeared first on HousingWire.