CFAH

Articles Recently Tagged: 30-Year Mortgage

(309 posts)
Benchmark Mortgage Rate Plunges Back Under 5 Percent

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 point (0.31 percentage point) drop over the past week alone, driven by an “increased risk of a formal recession... Read More »

Benchmark Mortgage Rate Drops.  Yes, Drops

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 percentage points) over the past week to 5.30 percent, which was still 250 basis points and roughly 90 percent... Read More »

Specter of an Even Bigger Rate Hike Looms

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 30-year mortgage has since ticked back up 21 basis points (0.21 percentage points) to 5.51 percent, which is... Read More »

Benchmark Mortgage Rate Drops Over Half a Point, But…

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 30-year mortgage has since dropped 51 basis points (0.51 percentage points) to 5.30 percent with a 40 basis point... Read More »

Benchmark Mortgage Rate Crosses Its 30 Year Average

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 is now above its 30 year average for the first time in over two decades and... Read More »

Benchmark Mortgage Rate Rockets, Nearing 6 Percent

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 of 2008.  As such, the current 30-year rate is now 97 percent higher than at the same time last... Read More »

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 to over 95 percent today, based on an analysis of the futures market. As such, the benchmark 30-year mortgage... Read More »

Benchmark Mortgage Rate Ticks Back Up, Poised to Climb

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 basis points (0.07 percentage points) of the 670-week high it hit last month. As such, the current 30-year rate... Read More »

30-Year Rate Inches Down, 5-Year ARMs Hit a 12-Year High

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 5.10 percent. That being said, the current 30-year rate is still 215 basis points or over 70 percent higher... Read More »

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 from the Mortgage Bankers Association, with a 12 percent drop in applications to purchase a home. As such, purchase... Read More »