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Articles Recently Tagged: Rate Hike

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Benchmark Mortgage Rate Drops to 6.49 Percent, But…

Benchmark Mortgage Rate Drops to 6.49 Percent, But…

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 »

Benchmark Mortgage Rate Drops, But…

Benchmark Mortgage Rate Drops, But…

Buoyed by a slowdown in the pace of inflation, the average rate for a benchmark 30-year mortgage dropped 47 basis points over the past week to 6.61 percent but is facing headwinds as the Fed is expected to continue raising rates over the next couple of quarters, likely by... Read More »

Benchmark Mortgage Rate Ticks Back Over 7 Percent

Benchmark Mortgage Rate Ticks Back Over 7 Percent

While the average rate for a benchmark 30-year mortgage had slipped back under 7 percent last week, said average had been compiled prior to last week’s rate hike by the Fed. And while the majority of the latest rate hike appeared to have been priced-in to last week’s rates,... Read More »

Benchmark Mortgage Rate Slipped Under 7 Percent, But…

Benchmark Mortgage Rate Slipped Under 7 Percent, But…

The average rate for a benchmark 30-year mortgage ticked down 13 basis points over the past week to 6.95 percent, slipping back under 7 percent but still 125 percent higher than at the same time last year, over 160 percent higher than last year’s all-time low, and below its... Read More »

Mortgage Rates Rocket Across the Board

Mortgage Rates Rocket Across the Board

The average rate for a benchmark 30-year mortgage jumped another 41 basis points (0.41 percentage points) over the past week to 6.70 percent, an average rate which is 123 percent higher than at the same time last year, 153 percent above last year’s all-time low, and the highest average... Read More »

Average 30-Year Mortgage Rate Hits 6.29 Percent, Still Not “High”

Average 30-Year Mortgage Rate Hits 6.29 Percent, Still Not “High”

Measured prior to yesterday’s announcement of another 75 basis point hike by the Fed, the average rate for a benchmark 30-year mortgage had already climbed another 27 basis points (0.27 percentage points) over the past week to 6.29 percent. At 6.29 percent, the average 30-year rate is now 118... Read More »

Purchase Mortgage Application Volume Now Down 30 Percent

While mortgage loan application volume to purchase a home in the U.S. ticked up one (1) percent on a seasonally adjusted basis over the past week, it continued to tick down on a year-over-year basis and was 30 percent lower than at the same time last year, according to... Read More »

Average 30-Year Mortgage Rate Just Hit 6 Percent, Headed Up

Average 30-Year Mortgage Rate Just Hit 6 Percent, Headed Up

Having already doubled over the past year, the average rate for a benchmark 30-year mortgage ticked up another 13 basis points (0.13 percentage points) over the past week to 6.02 percent, an average rate which is 110 percent higher than at the same time last year, 127 percent above... Read More »

Benchmark Mortgage Rate Has Doubled, Poised to Climb

Benchmark Mortgage Rate Has Doubled, Poised to Climb

With purchase demand for existing homes across the nation having already dropped over 20 percent and the pace of new home sales down nearly 30 percent, year-over-year, driven by a jump in mortgage rates that shouldn’t have caught any plugged-in readers by surprise, the average rate for a benchmark... Read More »

Sellers “Recalibrating” as Mortgage Rates Climb, Buying Wanes

Sellers “Recalibrating” as Mortgage Rates Climb, Buying Wanes

The average rate for a benchmark 30-year mortgage ticked up another 11 basis points (0.11 percentage points) over the past week to 5.66 percent, an average rate which is now 97 percent higher than at the same time last year and 114 percent higher than last year’s all-time low... Read More »