As we noted last week, “the yield on the 10-year treasury inched up around 3 basis points since the Fed’s announcement, indicating the near-certain hike was already priced-in and should moderate any significant jumps in mortgage rates over the next week.” The average rate for a... Read More »

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 »

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 »

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 »

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 »

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 »

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 »

While mortgage loan application volumes in the U.S. dropped another 6.8 percent over the past week on a seasonally adjusted basis and 6 percent in the absolute, the decrease was driven by a 15 percent drop in refinancing activity, which was down 60 percent on a year-over-year basis, according... Read More »

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 the Fed adopting a total of nine (9) more quarter point hikes within the next nine months, the probability... Read More »

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 points) higher than at the same time last year and the highest average rate since January of 2019. At... Read More »