Purchase Mortgage Activity Drops, Jumbo Rates Inch Down
Purchase mortgage application volume in the U.S. dropped 2 percent on a seasonally adjusted basis and 1 percent in absolute over the past week and was 14 percent lower than…
Benchmark Mortgage Rate Continues to Climb
Having leapt back over 7 percent last week, the average rate for a benchmark 30-year mortgage has since ticked up another 7 basis points (0.07 percentage points) to 7.17 percent,…
Purchase Mortgage Activity Ticks Down, Jumbo Rates Jump
Purchase mortgage application volume in the U.S. was effectively unchanged over the past week in the absolute but ticked down a (1) percent on a seasonally adjusted basis and was…
Expected Value of Rate Cuts Tumbles, Again
As we first outlined earlier this year, the expected value of the Fed’s rate cuts in 2024 was on the decline, with our analysis suggesting fewer than half the number…
Benchmark Mortgage Rate Back Above 7 Percent
The average rate for a benchmark 30 year mortgage jumped 22 basis points (0.22 percentage points) over the past week to 7.10 percent, which is 71 basis points higher than…
Number of Homes on the Market in S.F. Keeps Climbing
Having hit a 13-year seasonal high last month, the net number of single-family homes and condos on the market has since ticked up another 13 percent with new supply having…
Benchmark Mortgage Rate Back Near 7 Percent
Following a trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30 year mortgage ticked up another 6 basis points (0.06 percentage points) over…
Purchase Mortgage Activity Drops, Rates on the Rise
Having inched up a percent at the end of last month, purchase mortgage application volume in the U.S. dropped 5 percent in the absolute over the past week and 4…
Expected Value of Rate Cuts Drops
As we first outlined early last month, based on an analysis of the futures market for interest rate products, the expected value of the Fed’s rate cuts was suggesting there…
Benchmark Mortgage Rate Inches Down to 6.79 Percent
With the expected value of the Fed’s rate cuts holding at a total of three (3) quarter-point rate cuts in 2024, as we first calculated a few weeks ago and…