Benchmark Mortgage Rate Jumps Back Over 5 Percent
Having dropped under 5 percent for the first time in four months last week, driven by an “increased risk of a formal recession and declining consumer confidence overall,” the average…
Benchmark Mortgage Rate Plunges Back Under 5 Percent
Despite the Fed’s recent rate hikes, the average rate for a benchmark 30-year mortgage had plunged from 5.81 to 4.99 percent over the past six weeks, including a 31 basis…
Benchmark Mortgage Rate Drops. Yes, Drops
Measured prior to yesterday’s announcement of another 75 basis point hike to the federal funds rate, the average rate for a benchmark 30-year mortgage had dropped 24 basis points (0.24…
The Fed Abides, Hikes Rates Another 75 Bips
As projected, the Federal Reserve has just announced another rate hike of 75 basis points or three-quarters of a percent for federal funds, its second 75 basis point hike in…
Specter of an Even Bigger Rate Hike Looms
Having dropped half a percentage point from its 13-year high of 5.81 percent last month, driven by increasing concerns of a recession and hard landing, the average rate for a…
Benchmark Mortgage Rate Rockets, Nearing 6 Percent
The average rate for a conforming 30-year mortgage rocketed 55 basis points (0.55 percentage points) over the past week to 5.78 percent which is the highest average rate since November…
All Eyes on The Fed and Projected Rate Hike(s), Again
The probability of the Fed raising the federal funds rate by three quarters of a percentage point (75 basis points) this afternoon has jumped from under 10 percent last week…
Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High
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…
Benchmark Mortgage Rate Climbs, Nearing a 13-Year High
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…
All Eyes on The Fed and Projected Rate Hike(s)
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,…