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Tag Archives: fixed-rate mortgage (FRM)

Mortgage Rates Hit 2023 High Mark

“This upward trend is being driven by a resilient economy, persistent inflation, and a more hawkish tone from the Federal Reserve,” said Freddie Mac Chief Economist Sam Khater.

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Mortgage Rates Shift Direction, Trend Upward

After a three-week slide, Freddie Mac reports the fixed-rate mortgage rose four basis points week-over-week, and despite affordability headwinds, buyers have driven new home sales to levels seen in more than 12 months.

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Mortgage Apps Rise Slightly Week-Over-Week

While mortgage rates fell for a third consecutive week, limited supply and continued affordability issues are handcuffing prospective buyers, as overall mortgage activity rose just 0.5% over last week’s total.

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Mortgage Rates Turn Downward

“While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers,” said Freddie Mac Chief Economist Sam Khater.

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Mortgage Apps Drop 30% YoY

Mortgage application volume fell has fallen for a month straight, with purchase activity constrained by rates nearing the 7% mark and a lack of for-sale inventory.

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