Editor’s Note: The Mortgage Mix is RISMedia’s biweekly highlight reel of need-to-know mortgage-industry happenings. Watch for it every other Friday afternoon. After dipping below 6% in previous weeks, mortgage rates rose to 6.11% as of the week of March 13. National Association of Realtors® (NAR) Principal Economist and Director of Real Estate Research Nadia Evangelou…
The average mortgage rate remaining at or around the low 6% range continues to spur buyer activity, but economists warn it may not be enough to create a much-needed market shift in the face of ongoing economic uncertainty and wartime market volatility. The average mortgage rate ticked up 11 basis points to 6.11% this week,…
After a brief dip into the fives, mortgage rates ticked back up this week and will likely continue to rise if the conflict with Iran escalates into a prolonged war, economists cautioned this week. “The launch of the conflict in Iran over the weekend and its subsequent escalation has stoked fears of wartime inflation that…
Just in time for the spring buying season, average mortgage rates crossed “into the fives,” this past week, their lowest level in years, and one economists describe as a “psychological barrier and numeric threshold” that could bring more buyers into the market despite concerns over the economy. The latest Primary Mortgage Market Survey® (PMMS®), released…
The average top-tier mortgage rates dipped below 6% this week, offering up what economists say could be the “psychological push” some buyers are looking for to get them off the sidelines and into a stubborn housing market that continues to be constrained by affordability and inventory challenges. Mortgage News Daily (MND) reported that the average…
As inventory challenges persist in some markets and have improved in others, economists generally point to a Spring market with increased buyers, provided average mortgage rates remain at their recent years-long lows. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday, shows the 30-year fixed-rate mortgage (FRM) averaging 6.01%, down from 6.09%…
On the heels of a dismal January existing home sales report, mortgage rates holding steady around 6% for weeks brings brighter news in the form of increased confidence for some home shoppers who’ve been sitting on the sidelines, experts say, although affordability still remains a challenge. The latest Primary Mortgage Market Survey® (PMMS®), released by…
Housing affordability is an issue to be tackled from many directions; which ways are on lawmakers’ radar? The House Financial Services committee (which covers the real estate sector) provided insight into that during a hearing Tuesday on rising housing costs, titled “Priced Out of the American Dream.” Those giving testimony at the hearing, where discussion…
Housing market watchers say improving home affordability and inventory levels are short-term positives for home shoppers, but caution that the maintaining the independence of the Federal Reserve and tracking broader economic conditions like consumer confidence and economic uncertainty, will help predict where the housing market is heading in the year ahead. The latest Primary Mortgage…
This week saw a decrease in overall home purchase applications but the average mortgage rate held steady at or around three-year lows. The latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday, shows the 30-year fixed-rate mortgage (FRM) averaging 6.10%, a slight increase of 1 basis point from last week’s rate average of…
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