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Articles Recently Tagged: Rate Hike

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Benchmark Mortgage Rate Jumps Again, 39 Percent Higher YOY

Benchmark Mortgage Rate Jumps Again, 39 Percent Higher YOY

The average rate for a benchmark 30-year mortgage jumped 23 basis points (0.23 percentage points) over the past week to 3.92 percent, which is 39.5 percent higher than the average rate of 2.81 percent at the same time last year and the highest average rate since May of 2019.... Read More »

Benchmark Mortgage Rate Just Jumped to a 2-Year High

Benchmark Mortgage Rate Just Jumped to a 2-Year High

The average rate for a benchmark 30-year mortgage jumped 14 basis points (0.14 percentage points) over the past week to 3.69 percent, which is nearly a full percentage point (96 basis points) higher than at the same time last year and the highest average rate since January 2, 2020.... Read More »

Benchmark Mortgage Rate Holding Near a 2-Year High

Benchmark Mortgage Rate Holding Near a 2-Year High

The average rate for a benchmark 30-year mortgage inched down one (1) basis points (0.01 percentage points) over the past week to 3.55 percent, which is 78 basis points percent higher than at the same time last year and within 10 basis points of a 2-year high. At the... Read More »

Benchmark Mortgage Rate Ending 2021 Up 44 Bips

Benchmark Mortgage Rate Ending 2021 Up 44 Bips

The average rate for a benchmark 30-year mortgage inched up 6 basis points (0.06 percentage points) or bips over the past week to 3.11 percent, ending the year 44 basis points higher than at the end of 2020 and 46 basis points above its all-time low of 2.65 percent... Read More »

Mortgage Rates Slip, Slated to Rise

Mortgage Rates Slip, Slated to Rise

With the Omicron surge rattling the market, driving bond yields down, the average rate for a benchmark 30-year mortgage slipped 7 basis points (0.07 percentage points) over the past week to 3.05 percent, which is 39 basis points above its mark at the same time last year but still... Read More »

Prepare for Multiple Rate Hikes in 2022

Prepare for Multiple Rate Hikes in 2022

With “supply and demand imbalances related to the pandemic and the reopening of the economy” having “continued to contribute to elevated levels of inflation,” which has been rattling the market, the Federal Reserve has decided to reduce the pace of its bond-buying program and economic support for the economy... Read More »

Benchmark Mortgage Rate Inches Up, Fed Positioning for a Hike

Benchmark Mortgage Rate Inches Up, Fed Positioning for a Hike

The average rate for a benchmark 30-year mortgage inched up 1 basis points (0.01 percentage points) over the past week to 3.11 percent, which is 40 basis points above its mark at the same time last year. As such, the average 30-year rate is now 46 basis points above... Read More »

Benchmark Mortgage Rate Ticks Back Over 3 Percent

Benchmark Mortgage Rate Ticks Back Over 3 Percent

Having slipped back under 3 percent last week, the average rate for a benchmark 30-year mortgage has since ticked up 12 basis points (0.12 percentage points) to 3.10 percent, which is 38 basis points above its mark at the same time last year and shouldn’t have caught any plugged-in... Read More »

Benchmark Mortgage Rate Inches Back Under 3 Percent

Benchmark Mortgage Rate Inches Back Under 3 Percent

Having dropped 16 basis points (0.16 percentage points) over the past two weeks, the average rate for a benchmark 30-year mortgage has inched back down to 2.98 percent, which is 14 basis points above its mark at the same time last year but within 33 basis points of its... Read More »

Mortgage Loan Application Volumes Inch Up, But…

Mortgage loan application volumes across the U.S. inched up 0.2 percent over the past week on a seasonally adjusted basis having dropped 6.9 percent the week before, with a 2 percent increase in purchase mortgage activity in the absolute, according to the Mortgage Bankers Association. That being said, purchase... Read More »