Tag Archives: U.S. Department of Labor

In a new blog post, First American Chief Economist Mark Fleming explains that " “mortgage rate stability, even if the stabilization occurs at a higher level, is the key to a housing recovery.”

The surge in mortgage rates seen last week has slowed slightly, as Freddie Mac expects rates to continue to increase, but at a more gradual pace.

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.

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.

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.

Despite pessimism regarding the U.S. economy, and a predicted rise in rates, a new GSE poll found homebuyer sentiment on the rise in October.

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.

Mortgage rates have risen to 3.14%, up five basis points, with refi activity dipping for the fifth straight week.