Tag Archives: fixed-rate mortgage (FRM)

The last time mortgage rates hovered near the 7% range was two decades ago, as continued Fed actions to ease inflation have forced the fixed-rate mortgage to 20-year highs.

The MBA reports that new home purchase applications were down year-over-year in August but made a comeback after four consecutive months of declines.

As the Federal Reserve issues another rate hike to tame high-riding inflation, Freddie Mac reported the fixed-rate mortgage climbed 27-basis points over last week, rising to levels last seen in 2008.

Freddie Mac reports the fixed-rate mortgage hit an average of 6.02% this week, a high point not seen since 2008 as affordability conditions continue to worsen for many potential buyers.

Mortgage rates jumped 23 basis points week-over-week, hitting a high mark last seen in late 2008, as heightened inflationary concerns are pushing more prospective buyers back to the sidelines.

S&P CoreLogic Case-Shiller reported a deceleration in home prices nationwide, with markets in the western portion of the country reporting the most notable waning of home price growth.

After falling back toward the 5%-mark, Freddie Mac reports that mortgage rates rose more than 40-basis points this week, as continued slowdown in economic growth weighs on the housing market.

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 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.

Since mortgage rates fell from their June highs, Redfin reports online real estate searches and home tours have ticked up and/or stabilized.