The average rate for a benchmark 30-year mortgage dropped 18 basis points (0.18 percentage points) over the past week to 6.15 percent, which is the lowest average rate in fourth months but still 250 basis points, or 73 percent, higher than at the same time last year; over 350... Read More »

While mortgage application volume dropped to a quarter century low at the end of 2022, despite a pullback in mortgage rates in the fourth quarter of last year, the average rate for a benchmark 30-year mortgage has since inched up another 6 basis points (0.06 percentage points) to 6.48... Read More »

The average rate for a benchmark 30-year mortgage inched down another 4 basis points (0.04 percentage points) over the past week to 6.27 percent but remains 106 percent higher than it was at the same time last year and 137 percent higher than last year’s all-time low of 2.65... Read More »

As expected, the average rate for a benchmark 30-year mortgage dropped another 16 basis points (0.16 percentage points) over the past week to 6.33 percent but remains over twice as high as it was at the same time last year and 139 percent higher than last year’s all-time low... Read More »

The average rate for a benchmark 30-year mortgage ticked down 9 basis points (0.09 percentage points) over the past week to 6.49 percent, which is only 109 percent higher than at the same time last year and 145 percent higher than last year’s all-time low of 2.65 percent. That... Read More »

Mortgage loan application volume to finance the purchase of a home in the U.S. was only 41 percent lower on a year-over-year basis last week versus 46 percent lower the week before, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey data. At the same time, the median... Read More »

Buoyed by a slowdown in the pace of inflation, the average rate for a benchmark 30-year mortgage dropped 47 basis points over the past week to 6.61 percent but is facing headwinds as the Fed is expected to continue raising rates over the next couple of quarters, likely by... Read More »

While the average rate for a benchmark 30-year mortgage had slipped back under 7 percent last week, said average had been compiled prior to last week’s rate hike by the Fed. And while the majority of the latest rate hike appeared to have been priced-in to last week’s rates,... Read More »

The average rate for a benchmark 30-year mortgage ticked down 13 basis points over the past week to 6.95 percent, slipping back under 7 percent but still 125 percent higher than at the same time last year, over 160 percent higher than last year’s all-time low, and below its... Read More »

Having hit a 20-year high of 6.92 percent two weeks ago, the average rate for a benchmark 30-year mortgage has since ticked up another 16 basis points (0.16 percentage points) to 7.08 percent, an average rate which is 125 percent higher than at the same time last year, 167... Read More »