Following a slight average mortgage rate increase this week, economists are pointing to a slow summer housing market ahead and even a possible interest rate increase, but recent housing reports show the market continues to hold steady. The average 30-year fixed mortgage rate increased to 6.52% from 6.48% last week, according to the latest Primary…
Mortgage rates saw some slight improvement this week, falling 5 basis points after three weeks of increases, but it seems the housing market can’t catch a break as economists note that inventory challenges have returned in many areas. The average 30-year fixed mortgage rate decreased to 6.48% from 6.53% last week, according to the latest…
While mortgage rates continue to tick up amid continued economic uncertainty, economists note the spring market is proving more resilient than expected, mainly due to rates remaining much lower than a year ago at this time. The average mortgage rate increased 2 basis points to 6.53%, up from 6.51% last week, according to the latest…
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Mortgage rates have fluctuated again this week, seeing an increase as inflation rose due to elevated oil, gas and energy prices due to continued geopolitical tensions, according to the latest data from Freddie Mac. Freddie Mac’s Primary Mortgage Market Survey® found that the 30-year fixed-rate mortgage (FRM) had increased from 6.36% last week to 6.51%…
Mortgage rates ticked down slightly this week despite inflation concerns rising after this week’s CPI report. The average mortgage rate decreased 1 basis point to 6.36% down from 6.37% last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. Bright MLS Chief Economist Lisa Sturtevant said mortgage rates may…
Freddie Mac reported today that mortgage rates increased this week, still being driven by geopolitical tensions and sticky inflation, according to economists. The average mortgage rate increased 7 basis points to 6.37%, up from 6.30%, last week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday. “The expectation of rates…
Mortgage rates bumped back up this week but overall remain in the low 6% range, contributing to a subdued but steady spring market, according to economists. The average mortgage rate ticked increased 7 basis points to 6.30%, up from 6.23% last week, and back to the same point from two weeks ago, according to the…
Mortgage rates have reached their lowest point since mid-March but economists worry inflation and economic uncertainty caused by tensions in the Middle East will result in temporary decreases versus more sustained stability. The average mortgage rate ticked down 7 basis points to 6.23%, down from 6.30% last week, according to the latest Primary Mortgage Market…
‘In a holding pattern’ is how economists are describing the spring market moving into April, with more policy stability and conflict resolution needed to move buyers and sellers back from the sidelines. The average mortgage rate ticked down 9 basis points to 6.37% this week, down from 6.46% last week after several weeks of increases,…
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The average 30-year fixed mortgage rate increased for the fifth consecutive week, rising to 6.46% as the ongoing war in Iran continues to roil financial markets, economists said. The average mortgage rate ticked up 8 basis points to 6.46% this week, according to the latest Primary Mortgage Market Survey® (PMMS®), released by Freddie Mac Thursday,…
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