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 »

As predicted, the Federal Reserve just cut the benchmark Federal Funds rate by another 25 basis points (0.25 percentage points), the third such rate cut this year. Having dropped its benchmark rate a total of 5 percentage points between August of 2007 and the end of 2008, a move... Read More »

As predicted, the Federal Reserve just cut the benchmark Federal Funds rate by another 25 basis points (0.25 percentage points), the second such cut this year. Having dropped its benchmark rate a total of 5 percentage points between August of 2007 and the end of 2008, a move which... Read More »

With the Fed having formally signaled a more “patient” approach with respect to any future rate hikes back in January, the probability of an easing started to emerge, as we first noted at the time. And as predicted, the Federal Reserve has just cut the benchmark Federal Funds rate by... Read More »

Continuing 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 over the past week to 4.38 percent, which is now 43 basis points higher than at the beginning of the year, 23 basis points... Read More »

In a move that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage moved up another 10 basis points over the past week to 4.32 percent, which is 37 basis points higher than at the beginning of the year, 15 basis points higher... Read More »

With the probability of a Fed Funds rate hike next week up to 85 percent, according to an analysis of the futures market, the rate for a conforming 30-year mortgage averaged 3.95 percent over the past week, up 2 basis points versus the week before and versus the same... Read More »

According to activity in the futures market, the probability of a Federal Funds rate hike by the end of the year has jumped from 30 percent in October to 75 percent today.  And with her speech at the Economic Club of Washington yesterday, Federal Reserve Chair Janet Yellen continues to pave... Read More »

The average rate for a conforming 30-year mortgage increased 11 basis points over the past week to 3.87 percent, up 28 basis point from the 3.59 percent low for the year in February but 15 basis points below the 4.02 percent average rate at the same time last year... Read More »

While mortgage rates ticked-up a few basis points over the past week, the average rate for a 30-year mortgage (3.82 percent) remains below four percent for the twelfth week in a row. And with Federal Reserve Governor Daniel Tarullo publicly challenging the Federal Reserve Chair’s suggestion last month that an increase... Read More »