While the Fed has just affirmed its intentions to maintain a low rate environment through 2023, the average rate for a benchmark 30-year mortgage, which inched over 3 percent for the first time in seven months two weeks ago, inched up another 4 basis points (0.04 percentage points) over the... Read More »
Citing an ongoing public health crisis (i.e., the pandemic) that “will continue to weigh on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term,” the Federal has just reaffirmed its commitment to maintaining a low-rate environment, “until... Read More »
With the Fed’s affirmation of a prolonged low-rate environment already priced in, the average rate for a benchmark 30-year mortgage effectively held over the past week, inching up a single basis point to 2.87 percent, which is 86 basis points below its mark at the same time last year... Read More »
Having dropped to an all-time low of 3.15 percent two weeks ago, the average rate for a benchmark 30-year mortgage has since inched up 6 basis points (0.06 percentage points) to 3.21 percent but remains 61 basis points below its mark at the same time last year and nearly... Read More »
Having spiked last week, the average rate for a benchmark 30-year mortgage has since shed 15 basis points for an average rate of 3.50 percent, which is 56 basis points (0.56 percent) below its mark at the same time last year, according to Freddie Mac’s latest Mortgage Market Survey... Read More »
Having inched up from an all-time low of 3.29 percent to 3.36 percent last week, the average rate for a benchmark 30-year mortgage has since jumped another 29 basis points (0.29 percentage points) to 3.65 percent but remains 63 basis points below its mark at the same time last... Read More »
Having already rolled out an emergency rate cut of 50 basis points two weeks ago, the Federal Reserve has just announced an even larger cut of a full percentage point (100 basis points), resulting in a target federal funds rate of zero to 0.25 percent (which the Fed expects... Read More »
Having dropped to an all-time low of 3.29 percent last week, the average rate for a benchmark 30-year mortgage has since inched up 7 basis points to 3.36 percent but remains 95 basis points below its mark at the same time last year and well below an average of... Read More »
The average rate for a benchmark 30-year mortgage dropped 16 basis points over the past week to a new all-time low of 3.29 percent, according to Freddie Mac’s latest Mortgage Market Survey data and which shouldn’t have caught any plugged-in readers by surprise. At the same time, the average... Read More »
The average rate for a benchmark 30-year mortgage has dropped back down to the 3-year low of 3.45 percent it hit three weeks ago, which is within 14 basis points (0.14 percentage points) of the all-time low it hit in November of 2012 and 90 basis points below its... Read More »
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