Tag Archives: adjustable-rate mortgage (ARM)

Following the up-and-down pattern of the 10-year Treasury, mortgage rates fell to 5.13% this week according to Freddie Mac, a week after shooting up to well above the 5% mark.

A week after bottoming out to a four-month-low, mortgage rates jumped back upward this week, climbing to 5.22% despite continued correction in the housing space.

Despite a four-month low reported in mortgage rates, overall application volume rose just 0.2% week-over-week, with a decline in purchase activity offset by an increase in refis.

A market reset may be underway, as fixed-rate mortgages fell just below 5% for the first time since April 7, continuing a trend of instability amid inflationary pressures and a slowdown in economic growth.

The MBA reported mortgage application volume rose 1.2% this week, reversing course after the Fed rate hike announcement, and rising after a month-long decline.

In anticipation of another rate hike by the Federal Reserve, mortgage rates retreated downward this week, as purchase demand continued to fall, as the prospect of a recession continues to loom.

The MBA reports that overall application volume is down yet again, with lingering economic uncertainty and affordability issues keeping prospective buyers on the sidelines.

With the Federal Reserve expected to take further action to address continued inflationary concerns, mortgage rates rose for the second consecutive week amidst softening market demand.

Rising rates and a dwindling demand for refis has pushed mortgage applications down for a third consecutive week, falling to lows last seen in 2000.

Freddie Mac reports that mortgage rates climbed back upward to 5.51% this week, just one week after a sharp drop and paced by “runaway” inflation.