Tag Archives: Sam Khater

For the first time since April 2022, mortgage rates have surpassed the 7% mark, with many potential buyers now waiting to see where the market is headed, thus pushing home prices further downward.

Mortgage rates continue to force down application volume, with Freddie Mac reporting rates moving slightly upward yet again this week, adversely impacting the housing market as demand dwindles.

After a slight break last week, Freddie Mac reports the fixed-rate mortgage inched closer toward the 7% mark, as recessionary concerns and housing affordability continue to drive down housing demand.

On the heels of the Fed’s rate hike, mortgage rates edged near the 7% mark last week but trended back downward this week amid ongoing economic uncertainty.

The last time mortgage rates hovered near the 7% range was two decades ago, as continued Fed actions to ease inflation have forced the fixed-rate mortgage to 20-year highs.

Freddie Mac reports the fixed-rate mortgage hit an average of 6.02% this week, a high point not seen since 2008 as affordability conditions continue to worsen for many potential buyers.

Mortgage rates jumped 23 basis points week-over-week, hitting a high mark last seen in late 2008, as heightened inflationary concerns are pushing more prospective buyers back to the sidelines.

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.

A new study from Freddie Mac found that nearly 60% of renters saw their rent increase over the past 12 months, with just 38% of those polled seeing an increase in their wages to offset this hike.

Following the up-and-down pattern of the 10-year Treasury, mortgage rates fell to 5.13% this week according to Freddie Mac, a week after shooting up to well above the 5% mark.