Tag Archives: fixed-rate mortgage (FRM)

Eclipsing the 3% mark for the first time since April, fixed-rate mortgages hit 3.05% this week, with inflationary pressure building due to lingering pandemic issues, and a constricting monetary policy.

Mortgage application volume held steady week-over-week according to a new report, as a slight drop in refis was countered by a rise in home purchases.

Year-over-year, affordability declined in August, but progress was seen month-over-month, with median family income on the rise.

While rates continue to hover at record lows, a rise in economic and financial market uncertainties, competition remains high for tight inventory as affordability issues linger.

As mortgage rates edge above the 3% mark, borrower incentive to refinance is waning.

Rates have inched higher and higher over the past few weeks, finally moving past the 3% mark for the first time since late May.

With mortgage rates still in refi-friendly territory, dropping week-over-week, according to Freddie Mac’s weekly report.

Freddie Mac reports mortgage rates leveling off as COVID variants have led to weaker employment, a drop-off in spending, and declining consumer confidence.

Freddie Mac reports that rates are stabilizing, along with a modest improvement in the nation’s housing supply, as more homebuyers are poised to take advantage of these still-record-low rates.

After a slight rise last week, mortgage rates have plateaued as a shift in inventory and pricing is offering more choices for buyers, along with more approachable prices.