Tag Archives: fixed-rate mortgage (FRM)

For the first time in over a month, mortgage rates have dropped below the 3% mark, signaling a strong finish for the purchase and refi markets to close out 2021.

The days of rates in the 3% range may be numbered, as yesterday’s actions by the Fed to begin tapering may put upward pressure on rates moving forward.

In the pursuit of equitable housing for all, an upcoming webinar will address the challenges faced by more and more to find a home to purchase or rent within their means.

Mortgage rates have risen to 3.14%, up five basis points, with refi activity dipping for the fifth straight week.

Fueled by the trajectory of both the economy and the pandemic, mortgage rates advanced upward this week; however, the housing market is expected to remain strong as 2021 comes to an end.

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.