With the benchmark 30-year mortgage rate having hit a 20-year high but still running below its long-term average, mortgage loan application volume in the U.S. dropped another 4 percent over the past week to its lowest level since 1997 and purchase mortgage activity is down 38 percent versus the... Read More »

The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 6.92 percent, an average rate which is now 128 percent higher than at the same time last year, 165 percent above last year’s all-time low, and the highest... Read More »

With the benchmark 30-year mortgage rate nearing a 20-year high, mortgage loan application volume plummeted over 14 percent last week, with a 13 percent drop in applications to purchase a home, both in the absolute and on a seasonally adjusted basis. And with last week’s plummeting, purchase mortgage application... Read More »

The average rate for a benchmark 30-year mortgage jumped another 41 basis points (0.41 percentage points) over the past week to 6.70 percent, an average rate which is 123 percent higher than at the same time last year, 153 percent above last year’s all-time low, and the highest average... Read More »

Measured prior to yesterday’s announcement of another 75 basis point hike by the Fed, the average rate for a benchmark 30-year mortgage had already climbed another 27 basis points (0.27 percentage points) over the past week to 6.29 percent. At 6.29 percent, the average 30-year rate is now 118... Read More »

Having already doubled over the past year, the average rate for a benchmark 30-year mortgage ticked up another 13 basis points (0.13 percentage points) over the past week to 6.02 percent, an average rate which is 110 percent higher than at the same time last year, 127 percent above... Read More »

With purchase demand for existing homes across the nation having already dropped over 20 percent and the pace of new home sales down nearly 30 percent, year-over-year, driven by a jump in mortgage rates that shouldn’t have caught any plugged-in readers by surprise, the average rate for a benchmark... Read More »

The average rate for a benchmark 30-year mortgage ticked up another 11 basis points (0.11 percentage points) over the past week to 5.66 percent, an average rate which is now 97 percent higher than at the same time last year and 114 percent higher than last year’s all-time low... Read More »

Having dropped under 5 percent for the first time in four months three weeks ago, the average rate for a benchmark 30-year mortgage has since surged 56 basis points (0.56 percentage points) to 5.55 percent, including a 42 basis point jump over the past week alone. At 5.55 percent,... Read More »

Having dropped under 5 percent for the first time in four months last week, driven by an “increased risk of a formal recession and declining consumer confidence overall,” the average rate for a benchmark 30-year mortgage has since jumped 23 basis points (0.23 percentage points) to 5.22 percent. With... Read More »