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Articles Recently Tagged: Mortgage Rates

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Benchmark Mortgage Rate Climbs, Nearing a 13-Year High

Benchmark Mortgage Rate Climbs, Nearing a 13-Year High

Measured prior to the Fed’s rate hike yesterday, the average rate for a benchmark 30-year mortgage had already jumped another 17 basis points to 5.27 percent, which is 231 basis points and nearly 80 percent higher than at the same time last year and the highest average rate since... Read More »

All Eyes on The Fed and Projected Rate Hike(s)

While the Fed has only hiked the target federal funds rate by 25 basis points (0.25 percentage points) from the near zero rate which had been in place since 2018, the benchmark 30-year mortgage rate has already rocketed by over 200 basis points to a 12-year high, driven by... Read More »

Mortgage Applications Drop as Homebuyers Pull Back Even More

Mortgage loan application volumes in the U.S. dropped another 8.3 percent over the past week on a seasonally adjusted basis and 7 percent in the absolute, with a 9 percent drop in applications to refinance and a 7 percent drop in purchase activity, according to data from the Mortgage... Read More »

Pace of New Home Sales Drops, Inventory Climbs

Pace of New Home Sales Drops, Inventory Climbs

Having ticked down an upwardly revised 1.2 percent in February, the seasonally adjusted pace of new single-family home sales in the U.S. dropped 8.6 percent in March to an annualized rate of 763,000 sales. As such, the pace of sales last month was 12.6 percent lower than at the... Read More »

Benchmark Mortgage Rate Just Hit a 12-Year High

Benchmark Mortgage Rate Just Hit a 12-Year High

Having hit 5 percent for the first time in over a decade last week, the average rate for a benchmark 30-year mortgage has since ticked up another 11 basis points (0.11 percentage points) to 5.11 percent, which is 214 basis points and over 70 percent higher than at the... Read More »

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

The average rate for a benchmark 30-year mortgage jumped another 28 basis points (0.28 percentage points) over the past week to 5.00 percent, which is 196 basis points and over 60 percent higher than at the same time last year, over two (2) full percentage points higher than in... Read More »

Benchmark Mortgage Rate Over 50 Percent Higher YOY

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 51 percent, higher than at the same time last year. As such, the 30-year rate is now within 23... Read More »

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 the Mortgage Bankers Association. On a more granular basis, applications to refinance dropped another 10 percent over the past... Read More »

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 spring buying/selling season and despite posturing that a jump in mortgage rates would actually spur more activity as buyers... Read More »

Benchmark Mortgage Rate Climbs, Nearing an 11-Year High

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 50 percent, higher than at the same time last year and the highest average rate since December of 2018.... Read More »