Benchmark Mortgage Rate Over 50 Percent Higher YOY
The average rate for a benchmark 30-year mortgage ticked up another 5 basis points (0.05 percentage points) over the past week to 4.72 percent, which is 159 basis points, or…
Mortgage Activity in the U.S. Continues to Drop
Mortgage loan application volumes in the U.S. dropped another 6.3 percent over the past week on a seasonally adjusted basis and 6 percent in the absolute, according to data from…
Pace of Home Sales in San Francisco Slips
The number of single-family homes and condos in contract across San Francisco slipped a percent over the past week, representing an atypical decline in activity in the midst of the…
Benchmark Mortgage Rate Climbs, Nearing an 11-Year High
The average rate for a benchmark 30-year mortgage jumped another 25 basis points (0.25 percentage points) over the past week to 4.67 percent, which is 149 basis points, or nearly…
Make that Nine and a Near Decade High
With the probability of the Federal Reserve raising interest rates by another two (2) full percentage points by the end of the year having jumped last week, the probability of…
Pending Home Sales Drop, “Fast-Changing Conditions” Ahead
Having dropped 5.7 percent in January, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, “dwindled” another…
Mortgage Rates Rocket to 3-Year Highs, Primed to Climb
The average rate for a benchmark 30-year mortgage jumped another 26 basis points (0.26 percentage points) over the past week to 4.42 percent, which is nearly 40 percent (125 basis…
Pace of New Home Sales in the U.S. Drops, Inventory Up
Having dropped a downwardly revised 8.4 percent in January, the seasonally adjusted pace of new single-family home sales in the U.S. ticked down another 2.0 percent in February to an…
Mortgage Loan Application Volumes in the U.S. Drop
Mortgage loan application volumes to either purchase or refinance a home in the U.S. dropped 8 percent on both a seasonally adjusted and absolute basis last week, with purchase activity…
Probability of Eight More Rate Hikes Has Jumped
With the Federal Reserve having raised the target federal funds rate by 25 basis points (0.25 percentage points) last week, representing the first hike from a near zero rate in…