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Us Mortgage Rates

All articles tagged with #us mortgage rates

finance1 year ago

"Forecasting the Impact of Rising Mortgage Rates on Home Demand and Refinancing Trends"

US mortgage rates surpassed 7% for the first time in a month, leading to a significant drop in home purchase applications. Despite this, overall mortgage applications saw a slight increase due to a rise in refinancing activity. Economists believe that people are adjusting to higher mortgage rates, which have doubled since early 2022. The Federal Reserve has not yet lowered interest rates to combat inflation, and policymakers will assess consumer prices in upcoming data.

via Yahoo Finance|
#federal-reserve#finance#home-purchase-applications
finance2 years ago

Mortgage Rates Plummet to 4-Month Low, Boosting Refinance Activity

US mortgage rates have fallen for the sixth consecutive week, reaching their lowest level in nearly four months, according to Freddie Mac. The decline is attributed to a bond market rally that has driven down yields on securities used to set mortgage costs. The average rate on a 30-year fixed rate mortgage dropped to 7.03% from 7.22% the previous week, marking the lowest rate since mid-August. This comes after mortgage rates reached their highest levels in over two decades in October, but have since fallen due to expectations that the Federal Reserve will halt its aggressive tightening campaign to control inflation.

via Reuters|
#bond-market-rally#finance#freddie-mac
finance2 years ago

Mortgage Rates Plummet, Sparking Hope for Housing Market Recovery

The average contract rate on a 30-year fixed-rate mortgage in the US dropped by a quarter percentage point to 7.61%, the lowest in about a month, marking the largest weekly drop in nearly 16 months, according to the Mortgage Bankers Association (MBA). This decline in rates was driven by the US Treasury's issuance update, the Federal Reserve's dovish tone, and data indicating a slower job market. Despite the dip in rates, prospective buyers are still waiting on the sidelines, resulting in a 20% decrease in purchase applications compared to the same time last year. Sellers, taking advantage of lower mortgage rates, are holding onto their homes, contributing to a shortage of inventory in the housing market.

via Reuters|
#federal-reserve#finance#home-loan-costs
finance2 years ago

Mortgage Rates Plummet, Boosting Housing Market

The average contract rate on a 30-year fixed-rate mortgage in the US dropped by a quarter percentage point to 7.61%, the lowest in about a month, marking the largest weekly drop in nearly 16 months, according to the Mortgage Bankers Association (MBA). This decline was driven by a rally in the Treasury market, which lowered benchmark yields used to set home loan costs. The decrease in rates was also influenced by the US Treasury's issuance update, the Federal Reserve's dovish tone, and data indicating a slower job market. Despite the dip in rates, prospective buyers are still waiting on the sidelines, resulting in a 20% decrease in purchase applications compared to the same time last year.

via Yahoo Finance|
#federal-reserve#finance#home-loan-costs
finance2 years ago

Mortgage Rates Fall, Homebuyer Demand Rises in the US

US 30-year fixed mortgage rates have dropped for the fifth consecutive week to a two-month low, boosting demand for homebuying. The contract rate fell 10 basis points to 6.3% in the period ended April 7, according to the Mortgage Bankers Association. However, borrowing costs remain high and housing inventory is limited, which has kept a lid on homebuying activity. The MBA's index of refinancing applications ticked up 0.1%, while the overall gauge of mortgage applications rose to the highest since early February.

via Yahoo Finance|
#finance#homebuying#mortgage-bankers-association