Tag Archives: George Ratiu

After falling back toward the 5%-mark, Freddie Mac reports that mortgage rates rose more than 40-basis points this week, as continued slowdown in economic growth weighs on the housing market.

For buyers, the early 2022 rush to lock in low mortgage rates before they rose even higher has since been replaced by the reality that sub-3% rates are a thing of the past,” said George Ratiu, Senior Economist & Manager of Economic Research for Realtor.com.

A week after bottoming out to a four-month-low, mortgage rates jumped back upward this week, climbing to 5.22% despite continued correction in the housing space.

Despite a four-month low reported in mortgage rates, overall application volume rose just 0.2% week-over-week, with a decline in purchase activity offset by an increase in refis.

A market reset may be underway, as fixed-rate mortgages fell just below 5% for the first time since April 7, continuing a trend of instability amid inflationary pressures and a slowdown in economic growth.

In anticipation of another rate hike by the Federal Reserve, mortgage rates retreated downward this week, as purchase demand continued to fall, as the prospect of a recession continues to loom.

Month-over-month, home prices fell 0.9% in May, as CoreLogic S&P Case-Shiller reports actions by the Federal Reserve to cool the market have made mortgage financing more expensive for buyers nationwide.

With the Federal Reserve expected to take further action to address continued inflationary concerns, mortgage rates rose for the second consecutive week amidst softening market demand.

Freddie Mac reports that mortgage rates climbed back upward to 5.51% this week, just one week after a sharp drop and paced by “runaway” inflation.

Realtor.com reports that home price growth is expected to ease in the weeks ahead, pointing toward a rebalancing of market conditions.