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Mortgagerates

All articles tagged with #mortgagerates

finance1 year ago

Navigating Mortgage Rates Amid Market Fluctuations and Economic Shifts

Mortgage demand in the US remained largely unchanged last week as financial markets adjusted to the implications of a Trump presidency, with mortgage rates rising to their highest since July. The Mortgage Bankers Association reported a slight 0.5% increase in total application volume, marking the first rise in seven weeks. While refinance applications fell 2%, purchase applications rose 2%, driven by loans backed by the FHA and VA. The market is experiencing volatility due to election-related factors and expectations for future fiscal policy changes.

via CNBC|
#finance#financialmarkets#housingmarket
economy1 year ago

Mortgage Rates Remain High Despite Fed Cuts and Election Outcomes

Mortgage rates are expected to remain high following Donald Trump's election win, despite Federal Reserve interest rate cuts. This is because mortgage rates are more closely tied to 10-year treasury bond yields, which have risen due to strong economic growth expectations. Trump's proposed economic policies, such as tax cuts and infrastructure spending, could further drive inflation and bond yields, keeping mortgage rates elevated. However, some experts believe rates may eventually decrease as market volatility settles post-election.

via New York Post |
#economicgrowth#economy#inflation
economy1 year ago

Rising Mortgage Rates Dampen Housing Demand

Mortgage rates have increased for the sixth consecutive week, with the average 30-year fixed mortgage rate rising to 6.79%, impacting purchase demand in the housing market. This trend has led to a 10% decline in purchase applications over the past month, as many potential buyers and sellers await lower rates. Currently, about 80% of mortgage holders have rates below 5%, according to a Zillow survey.

via Fox Business|
#economy#homebuying#housingmarket
economy1 year ago

Trump's Election Win Sparks Mortgage Rate Surge and Housing Market Concerns

Following Donald Trump's presidential victory, U.S. mortgage rates have surged, with the 30-year fixed mortgage rate reaching 7.13%, the highest since July. This rise is linked to an increase in the U.S. 10-year Treasury yield, which mortgage rates tend to follow. Consequently, housing stocks, including major builders like Lennar and D.R. Horton, have fallen sharply. The National Association of Home Builders expressed optimism about working with the new administration to address housing supply and affordability issues. Despite rising rates, existing home sales have increased due to higher inventory levels.

via CNBC|
#economy#homebuilders#housingmarket
economy1 year ago

Trump's Election Win Sparks Mortgage Rate Surge and Housing Market Concerns

Mortgage rates are expected to rise as Donald Trump appears to be leading in key swing states, influencing bond markets and increasing the yield on the 10-year Treasury. This rise in yields typically leads to higher mortgage rates. Trump's potential policies, including tariffs and tax cuts, could increase government deficits, further impacting bond markets and mortgage rates. The outcome of the congressional elections will also play a crucial role in determining future fiscal policies and their effects on mortgage rates.

via Realtor.com News|
#bondmarkets#donaldtrump#economy
financeeconomy1 year ago

"Spring Homebuying Slows as Mortgage Rates Surge Past 7%"

Mortgage rates in the US have surged past 7%, reaching the highest level since November, as the 30-year fixed-rate mortgage averaged 7.10% in the week ending April 18. This surge is attributed to expectations that the Federal Reserve won't cut interest rates soon, with persistently high inflation readings keeping the Fed on hold. As a result, potential homebuyers are facing a tough housing market, with US home sales declining sharply in March. The housing affordability crisis is exacerbated by not only high mortgage rates but also elevated home prices nationwide, making it a challenging decision for prospective buyers.

via CNN|
#federalreserve#financeeconomy#homeaffordability
financeeconomy1 year ago

"Rising Inflation Impacts Mortgage Rates: What Homebuyers Need to Know"

Mortgage rates in the US have risen to 6.88%, up from 6.82% the previous week, and could potentially surpass 7% due to sustained inflation and the Federal Reserve's monetary policy. The increase in rates is a sign that the country's affordability crisis persists, with supply not keeping up with demand in the housing market. Despite recent improvements and potential future rate cuts by the Fed, the main issue remains the lack of housing supply, making home purchases unattainable for many Americans.

via CNN|
#affordabilitycrisis#federalreserve#financeeconomy
real-estate-economy2 years ago

"2024: A Promising Year for Homebuyers with Improved Affordability and Lower Mortgage Rates"

The real estate market is showing signs of relief for potential homebuyers as mortgage rates decrease from their peak, with the National Association of Realtors indicating that 2023 was a particularly tough year for home sales. The easing of market pressures and a potential reduction in interest rates by the Federal Reserve could further improve affordability in 2024. Home prices have risen, but the increase in listings and advice to shop around for the best mortgage rates suggest a more accessible market for buyers who are financially prepared.

via KOMO News|
##homebuying#housingaffordability
economy2 years ago

"2023 Housing Recap: Affordability Plummets as Markets Tighten Nationwide"

The US housing market is currently experiencing a significant decline in home sales, with new home sales down 27% and existing home sales down 40% since January 2022. Despite high mortgage rates and historic unaffordability, homebuilder stocks have surged due to tight supply. Experts predict a slight market loosening in 2024, with an increase in inventory and a reduction in the "lock-in" effect as homeowners may be forced to sell despite higher rates. The market is supported by structural demand due to underbuilding and demographic shifts, but affordability remains a critical issue, with only 15.5% of homes deemed affordable for the average household in 2023.

via Business Insider|
##economy#homebuilderstocks
economy-and-business2 years ago

"NatWest Chairman Faces Criticism for Downplaying Challenges of UK Home-Buying"

NatWest Chairman Howard Davies has faced criticism after claiming it's not "that difficult" to buy property in Britain, despite the current economic challenges including high interest rates, inflation, and a cost-of-living crisis. His comments have been met with backlash from social media and housing advocates, who argue that his perspective is out of touch with the realities faced by renters and potential first-time homebuyers. The average UK property price remains high, particularly in major cities like London, and while there is some anticipation of easing interest rates in 2024, the housing market outlook is still considered challenging.

via CNBC|
##economy-and-business#housingcrisis
finance2 years ago

"Mortgage Rate Trends: The Rise and Fall Amid Economic Shifts"

Mortgage rates have dropped, with the 30-year fixed-rate mortgage falling to 6.500%, a decrease of 0.250 percentage points from the previous day. It's crucial for potential borrowers to check current rates and compare offers from different lenders to secure the best deal. Factors like credit score, debt-to-income ratio, and down payment significantly influence mortgage rates. Credible, a personal finance marketplace, provides tools to compare rates and calculate potential monthly payments. The article also discusses the pros and cons of mortgages, how to qualify and apply for one, and the refinancing process.

via Fox Business|
##finance#homeloans
business-and-economy2 years ago

NatWest Chairman Under Fire for Downplaying Difficulty of Home Buying in the UK

Sir Howard Davies, the chair of NatWest, sparked controversy by suggesting on the BBC's Today programme that it is not "that difficult" for people to buy homes in the current market, despite the need to save more for a deposit than in the past. His comments were met with criticism for being out of touch, especially in light of the widening gap between house prices and average earnings, the rising cost of living, and increased average age of first-time buyers. Sir Howard later clarified his remarks, emphasizing the importance of responsible lending and acknowledging the challenges faced by first-time buyers. Meanwhile, the average UK property price stands at £287,105, with mortgage rates showing signs of easing, which could potentially boost buyer confidence in the future.

via BBC.com|
##business-and-economy#homeownership
finance2 years ago

"Mortgage Rate Fluctuations Continue as 2024 Trends Emerge"

Freddie Mac reports that while mortgage rates have held steady at the start of 2024, with the 30-year fixed-rate mortgage averaging 6.62%, they are expected to decline as the year progresses due to anticipated Federal Reserve rate cuts and easing inflation. The Fed's potential rate reductions could see the federal funds rate drop to 4.6%, influencing mortgage rates to settle between 5% and 6%. Despite the stable rates, homebuyers are facing challenges with low inventory and high home prices, and many are waiting for rates to drop further before entering the market. Homebuyers are advised to shop around for the best rates, and tools like online marketplaces can assist in comparing rates and getting preapproved with multiple lenders.

via Fox Business|
##federalreserve#finance
business-and-finance2 years ago

"Mortgage Rates Fluctuate: Recent Rise Follows Period of Stability and Predictions of Sustained Highs"

U.S. mortgage rates have increased for the first time since late October 2023, with the average rate for a 30-year fixed loan rising slightly to 6.62% from 6.61% the previous week, according to Freddie Mac. This marks the end of a 10-week streak of declining rates from near two-decade highs. Despite this uptick, an economist has suggested that mortgage rates are likely to decline over the course of the year.

via Bloomberg|
##business-and-finance#economy