Tag Archives: fixed-rate mortgage (FRM)

After weeks of rising mortgage rates, continued economic unpredictability has driven rates down slightly this week, as homebuilder sentiment hit its lowest level in 24 months.

Overall mortgage app volume rose for a second straight week, with continued interest in ARMs amid an environment of rising rates.

The seven-week streak of rates on the rise has come to an end, as mortgage rates scaled back slightly, with a decline in demand expected to soften home price growth.

The spring is generally a prime season for house buying, however the recent upswing in mortgage rates has caused some volatility in demand.

Mortgage rates rose once again this week, creeping closer to the 4.75% mark, rapidly closing the door on affordability for many.

After the Fed decided to raise rates last week, mortgage rates followed suit and edged up to 4.42%, up 26 basis points over last week and forcing more prospective buyers to the sidelines.

Sales of new single‐family houses were at a seasonally adjusted annual rate of 772,000 in February, falling 2% below January’s rate of 788,000.

For the first time since May of 2019, mortgage rates have risen above the 4% mark, on the heels of news that the Federal Reserve has upped short-term rates.

Overall mortgage application volume fell week-over-week, as investors continue to weigh the impact of rapidly increasing inflation nationwide.

Inflationary concerns and the Ukrainian conflict are factoring into mortgage rate volatility that is forecast to continue in the short-term.