Mortgage rates eased again for the fourth-straight week but remain almost a full percentage point over last year at this time, a key reason buyers continue to hold back and why the market remains sluggish. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate at 7.11%, down…
As the holiday season approaches, housing market activity on both the buyer and seller sides are cooling right along with the temperatures. Moving toward what is typically a slower time for the housing market anyway, a new report shows buyers are holding back as elevated rates continue to diminish their buying power and sellers are…
Mortgage rates came down for the third-straight week, but whether the recent trend is a sign of things to come remains unknown, although economists point toward any progress in a resolution in the Middle East as a step in the right direction. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average…
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Mortgage rates ticked down a bit this past week but landing at 7.3%, it wasn’t enough to move the needle for buyers submitting loan applications for 30-year-fixed rate mortgages. Sitting almost a full percentage point lower, adjustable rate mortgages (ARMs) however continue to be attractive for buyers looking to start out with a lower monthly…
For buyers, especially first-time buyers, today’s housing affordability crisis (driven by a host of market challenges, from rising mortgage rates to low inventory and lingering inflation) creates many barriers to entry for homeownership. Is there anything agents can actually do at the local level to move the needle and help their clients achieve their homeownership…
Mortgage rates edged down for the second consecutive week, a move buyers hope will continue, but economists say may not have much of an impact on the market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate at 7.24%, down eight basis points from 7.32% last week…
The post Mortgage Rates Edge Down for Second Week appeared first on RISMedia.
The Mortgage Bankers Association’s (MBA) latest survey recorded a modest but positive 3.4% increase in mortgage loan application volume from last week’s survey. The mortgage loan application volume, also known as the Market Composite Index, is MBA’s measure of the mortgage purchases, refinances and other mortgage activities in the week before the survey’s release. Data…
With less than two weeks until the midterm elections, the Trump Administration rolled out an executive order (EO) aimed at making some housing costs more affordable. The mortgage industry welcomed some of the proposals, such as mortgage insurance cancellation for homeowners and reducing interest rates on some federally backed loans, but the general feeling is…
Mortgage rates and the 10-year Treasury yield dropped this past week, offering homebuyers brief relief after two months of steady increases. The decline followed a wave of economic data that drove cautious investors into the safety of the bond market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate…
Mortgage rates held steady this week, remaining unchanged from last week but still lingering at a near three-year high–a level one economist says is having a “chilling effect” on the housing market. The latest Freddie Mac Primary Mortgage Market Survey® released Thursday shows the average 30-year fixed-rate mortgage rate remaining at 7.40%, the same level…
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