Benchmark Mortgage Rate Poised to Inch Down
The average rate for a benchmark 30-year mortgage inched down 6 basis points (0.06 percentage points) over the past week to 6.89 percent, which is 7 basis points lower than…
Benchmark Mortgage Rate Inches Down, Poised to Drop
Measured prior to yesterday’s affirmation by the Fed, the average rate for a benchmark 30-year mortgage inched down 4 basis points (0.04 percentage points) over the past week to 6.95…
Benchmark Mortgage Rate Inches Back Over 7 Percent
As we outlined last week, while the average rate for a benchmark 30-year mortgage had slipped back under 7 percent for the first time since mid-April the expected value of…
Purchase Mortgage Activity Continues to Drop
Despite the average rate for a benchmark 30-year mortgage having ticked down over the past month, purchase mortgage application volume in the U.S. has dropped for the third week in…
Expected Value of Rate Cut(s) Just Dropped
Having inched up over the past month, helping to pull the average rate for a benchmark 30-year mortgage back under 7 percent for the first time since mid-April, the expected…
Benchmark Mortgage Rate Drops to Just Over 7 Percent
Continuing a trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage ticked down 7 basis points to 7.02 percent over the past…
Purchase Mortgage Activity Ticks Back Down
Purchase mortgage application volume in the U.S. ticked back down 2 over the past week, both in the absolute on a seasonally adjusted basis, and was down 14 percent on…
Expected Value of Rate Cut(s) Holds
Having tumbled over the past two quarters, as we first outlined earlier this year, the expected value of the Fed’s rate cuts in 2024 is now holding, with the average…
Mortgage Credit Availability Holding Around a 12-Year Low
Having dropped to its lowest level since 2012 at the end of last year, mortgage credit availability, as indexed by the Mortgage Bankers Association (MBA) has since inched up a…
Benchmark Mortgage Rate Ticks Over 7.2 Percent, Poised to Moderate
Measured prior to yesterday’s affirmation from the Fed, the average rate for a benchmark 30-year mortgage had already ticked up another 5 basis points (0.05 percentage points) to 7.22 percent,…