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 »

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 down 12 percent, year-over-year, and applications to refinance down 54 percent, according to data from the Mortgage Bankers Association... Read More »

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 two years, the probability of the Fed adopting at least seven, if not eight, more quarter point hikes by... Read More »

The average rate for a benchmark 30-year mortgage jumped 31 basis points (0.31 percentage points) over the past week to 4.16 percent, which is 35 percent (107 basis points) higher than at the same time last year, nearly 60 percent higher than in January of last year and the... Read More »

Having ticked up last week from a two-year low, mortgage loan application volumes to either purchase or refinance a home in the U.S. have slipped a percent on both a seasonally adjusted and absolute basis, with purchase activity down 8 percent on a year-over-year basis and applications to refinance... Read More »

Having dipped 16 basis points (0.16 percentage points) with a flight to safety in the markets following Russia’s invasion of Ukraine, the average rate for a benchmark 30-year mortgage ticked back up 9 basis points over the past week to 3.85 percent, which is 80 basis points higher than... Read More »

Having slipped 3 basis points (0.03 percentage points) last week, the average rate for a benchmark 30-year mortgage has since pulled back another 13 basis points to 3.76 percent with the Fed’s expected quarter point hike having been priced in and a flight to safety over the past week... Read More »

As we outlined a couple of weeks ago, the bond market was projecting that the Fed would institute a quarter point (25 basis point) interest rate hike later this month. And in fact, Federal Reserve Chair Jerome Powell has just informed congress that he intends “to propose and support... Read More »

Having jumped nearly 30 percent over the past two months, the average rate for a benchmark 30-year mortgage pulled back 3 basis points (0.03 percentage points) over the past week for an average rate of 3.89 percent, which is 92 basis points, or 31 percent, higher than at the... Read More »