Benchmark Mortgage Rate Drops to Just Over 7 Percent
Continuing a trend that shouldn’t catch any plugged-in readers by surprise, the average rate for a benchmark 30-year mortgage ticked down 7 basis points to 7.02 percent over the past…
The Fed Affirms, Mortgage Rates Tick Up
As we first calculated a couple weeks ago, “the expected value of the Fed’s rate cuts this year has effectively held firm forecasting a total of three (3) quarter-point rate…
Benchmark Mortgage Rate Drops, Rate Cut Expectations Slip
The average rate for a benchmark 30 year mortgage dropped 14 basis points (0.14 percentage points) over the past week to 6.74 percent, which is still 14 basis points higher…
Benchmark Mortgage Rate Inches Down to Only 6.88 Percent
The average rate for a benchmark 30 year mortgage inched down 6 basis points (0.06 percentage points) over the past week to 6.88 percent, which is only 15 basis points…
Benchmark Mortgage Rate “Stabilizing” Above 6 Percent
With the probability of a rate cut this quarter having dropped, the average rate for a benchmark 30-year mortgage has inched back up to 6.69 percent. At the same time,…
Benchmark Mortgage Rate Drops to a Six-Month Low, And…
Having slipped back under 7 percent last week, the average rate for a benchmark 30-year mortgage has since dropped another 28 basis points (0.28 percentage points) to 6.67 percent, which…
Benchmark Mortgage Rate Slips Back Under 7 Percent
The average rate for a benchmark 30-year mortgage has slipped back under 7 percent for the first time in four months, inching down 8 basis points (0.08 percentage points) over…
Refinancing Activity Drives Mortgage Application Volume Up, Not Purchases
While the Mortgage Bankers Association’s index for mortgage loan application volume increased 6 percent last week, said increase was actually driven by refinancing activity, the sub-index for which jumped 19…
Benchmark Mortgage Rate Drops as Odds of Rate Cuts Rise
The average rate for a benchmark 30-year mortgage dropped another 19 basis points (0.19 percentage points) over the past two weeks to 7.03 percent, which is 71 basis point below…
Benchmark Mortgage Rate Drops to 7.29 Percent
The average rate for a benchmark 30-year mortgage has ticked down 21 basis points (0.21 percentage points) over the past two weeks to 7.29 percent, which is 71 basis points…