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Tag Archives: fixed-rate mortgage (FRM)

Mortgage Rates Climb to 23-Year High Point

Freddie Mac reports that mortgage rates reached levels last seen in December 2000, as the 30-year fixed-rate mortgage rose 12 basis points week-over-week and low supply continues to create affordability challenges for prospective buyers.

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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.

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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.

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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.

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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.

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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.

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