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 »

The average rate for a benchmark 30-year mortgage inched down 5 basis points (0.05 percentage points) over the past week to 3.09 percent, which is 31 basis points above its mark at the same time last year, 44 basis points above its all-time low of 2.65 percent this past... Read More »

Having cited 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” at the end of last year, the dot plot of Federal Open Market Committee (FOMC) participant’s... Read More »

Despite concerns that Treasury Secretary Janet Yellen’s recent comments hinted at the need for the Fed to raise rates sooner rather than later, in order to keep the economy from “overheating,” the average rate for a benchmark 30-year mortgage inched back down 2 basis points (0.02 percentage points) over... Read More »

Having inched up 1 basis point over the past week to 2.98 percent, the average rate for a benchmark 30-year mortgage is hovering just under 3 percent for the second week in a row and running 25 basis points (0.25 percentage points) below its mark at the same time... Read More »

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 »