Tag Archives: fixed-rate mortgage (FRM)

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.

Rates remained below 3% but leapt this week following a strong U.S. jobs report and strong growth in the economic sector.

Purchase apps have fallen slightly, however homeowners nationwide continue to jump into the refi market with rates falling to record low territory.

A new study found that pending home sales fell in June, with record low rates not enough to lure potential homebuyers to a market currently experiencing a spike in prices.

After falling incrementally over the past month, mortgage rates climbed yet remained below the 3% mark for the fifth consecutive week.

As rates continue to drop, many homeowners are finding themselves unable to take advantage in the purchase market as low inventory continues to outpace demand.