Benchmark Mortgage Rate Plunges Back Under 5 Percent
Despite the Fed’s recent rate hikes, the average rate for a benchmark 30-year mortgage had plunged from 5.81 to 4.99 percent over the past six weeks, including a 31 basis…
Benchmark Mortgage Rate Drops. Yes, Drops
Measured prior to yesterday’s announcement of another 75 basis point hike to the federal funds rate, the average rate for a benchmark 30-year mortgage had dropped 24 basis points (0.24…
Specter of an Even Bigger Rate Hike Looms
Having dropped half a percentage point from its 13-year high of 5.81 percent last month, driven by increasing concerns of a recession and hard landing, the average rate for a…
Benchmark Mortgage Rate Drops Over Half a Point, But…
Having hit 5.81 percent two weeks ago, which was the highest average rate since November of 2008 and above-average over the past 30 years, the average rate for a benchmark…
Benchmark Mortgage Rate Crosses Its 30 Year Average
Having inched up another 3 basis points (0.03 percentage points) over the past week to 5.81 percent, which is the highest average 30-year mortgage rate since November of 2008, the…
Benchmark Mortgage Rate Rockets, Nearing 6 Percent
The average rate for a conforming 30-year mortgage rocketed 55 basis points (0.55 percentage points) over the past week to 5.78 percent which is the highest average rate since November…
All Eyes on The Fed and Projected Rate Hike(s), Again
The probability of the Fed raising the federal funds rate by three quarters of a percentage point (75 basis points) this afternoon has jumped from under 10 percent last week…
Benchmark Mortgage Rate Ticks Back Up, Poised to Climb
Having inched down to 5.09 percent last week, the average rate for a conforming 30-year mortgage has since ticked back up to 5.23 percent which is back to within 7…
30-Year Rate Inches Down, 5-Year ARMs Hit a 12-Year High
Having hit 5.30 percent two weeks ago, representing a 670-week high, the average rate for a conforming 30-year mortgage has since ticked down 20 basis points (0.2 percentage points) to…
Purchase Mortgage Activity in the U.S. Down over 10 Percent
Having ticked up 2 percent last week, mortgage loan application volume across the U.S. has since dropped 11 percent on both an absolute and seasonally adjusted basis, according to data…