Mortgage rates gained just one basis point week-over-week according to Freddie Mac, marking the sixth consecutive week that the 30-year rate exceeded the 7% mark, pushing down home builder sentiment nationwide.
Read More »Economic Strength Keeping Mortgage Rates Above 7% Mark
As challenges persist for first-time homebuyers, mortgage rates trended upward yet again, rising six basis points week-over-week and remaining above the 7% mark for the fifth straight week.
Read More »Mortgage Rates Top 7% for Fourth Straight Week
“The housing market appears to be stuck heading into autumn, with sales activity likely to stay stagnant until housing inventory increases, and mortgage rates decline to more affordable levels,” said MBA President and CEO Bob Broeksmit. Click through to read more on this week's mortgage rates.
Read More »Overall Mortgage App Volume Falls to 27-Year Low
Despite a slight dip in mortgage rates, the MBA reports that mortgage application volume has fallen to lows last reported in December 1996, as rates and housing inventory continue to serve as major barriers to entry into the housing market.
Read More »Mortgage Rates Fall After Reaching Two-Decade High
After the fixed-rate mortgage hit levels recorded 21 years ago, Freddie Mac reported a five-basis point week-over-week slip in rates, and despite continued high rates, the nation’s short supply is keeping house prices steady.
Read More »Mortgage Rates Bump Up to 21-Year High
Hitting levels last recorded in 2001, Freddie Mac reports the fixed-rate mortgage at 7.23% this week, forcing more prospective buyers to back to the sidelines and pushing purchase activity to a 28-year-low.
Read More »Home Builder Confidence Wanes in August
After seven straight months of positive sentiment in builder confidence, mortgage rates exceeding the 7% mark, as well as high shelter inflation, have eroded housing affordability and put a damper on consumer demand.
Read More »Mortgage Rates Hit Highest Point Since Spring 2002
Not since spring of 2002 have fixed-rate mortgages been as high as they were reported this week, and when combined with mortgage app volume sliding for the fourth straight week, affordability headwinds continue to impact housing demand.
Read More »Mortgage Rates Continue to Climb, Edge Closer to 7% Mark
Freddie Mac Chief Economist Sam Khater points out that "upward pressure on rates is the product of a resilient economy with low unemployment and strong wage growth, which historically has kept purchase demand solid.”
Read More »Mortgage Rates Push Slightly Upward
Freddie Mac reports mortgage rates still in excess of the 6.75% mark, as home buyers are increasingly turning to new construction to secure a home, and home builders are responding by picking up the rate of construction.
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