Tag Archives: Sam Khater

Mortgage rates hit levels last seen in May 2020 to kick off the new year, with affordability remaining a hurdle faced by many first-time buyers due to record-high prices.

After a few weeks of increases, mortgage rates took a slight dive this week, falling to 3.05% as refis again picked up despite a downtick in overall mortgage app volume.

A 3% decline in purchase applications was offset by a 2% rise in refi activity as overall mortgage application volume slid for the second consecutive week.

Federal Reserve Board Chair Jerome Powell has reinforced the Fed’s intent to accelerate its tapering actions, resulting in an upward climb in mortgage rates. Here’s what else Freddie Mac’s latest Mortgage Market Survey reveals.

With rates dropping slightly to 3.10%, a strengthening economy and improvements in employment numbers are two factors that will drive a strong housing market into 2022.

In a holiday-shortened week, mortgage rates rose slightly, hitting 3.11%, yet remaining within range of all-time lows.

Mortgage applications rose 1.8% week-over-week, as the 30-year fixed-rate mortgage held steady at 3.10% as more took advantage of continued low rates to refinance.

After dipping below the 3% mark last week, fixed-rate mortgages climbed on the strength of a rise in consumer spending and improvements in unemployment.

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.