Mortgage Rates Fall to 3-Month Low

A shaky global economy is scaring investors into bonds, sending long-term mortgage interest rates to their lowest levels in three months, according to data from mortgage backer Freddie Mac. The average rate on the 30-year fixed rate mortgage (FRM) fell for the fourth straight week, slipping to 3.79 percent, excluding fees in the week ended January 28, 2015, down from 3.81 percent the previous week but still up from 3.66 percent the year before. It is now the lowest it has been since the week of Read more [...]

Mortgage Rates Follow Stock Market Down

Even though the Federal Reserve’s recent rate hike was supposed to push all interest rates higher, long-term mortgage interest rates have yet to see any impact. Foreign market concerns caused them to slump this week, mirroring the falling stock market, according to data from mortgage backer Freddie Mac. The average rate on a 30-year fixed-rate mortgage (FRM) fell to 3.92 percent, excluding fees, during the week ended January 14, 2016, down from 3.97 percent the previous week. The new rate is Read more [...]

Mortgage Applications Plummet Following Fed Rate Hike

The Federal Reserve’s December interest rate increase had a dramatic effect on mortgage applications, according to new data from the Mortgage Bankers Association, with refinance requests falling significantly. "Refinance application volume increased for three weeks in a row in early December ahead of the Fed's announcement that it was raising the federal funds rate," said Lynn Fisher, the association's vice president of research and economics. "During the two weeks following their announcement, Read more [...]

Mortgage Rates Hit 4 Percent before New Year

Long-term mortgage interest rates moved back above 4 percent during the last week of 2015, according to data from mortgage guarantor Freddie Mac, a sign that markets are reacting to the recent Federal Reserve rate hike. The average rate on a 30-year conventional, fixed-rate mortgage (FRM) jumped to 4.01percent, excluding fees, during the week ended December 31, 2015, up from 3.96 percent the previous week and up from the same time last year when it averaged 3.87 percent. It is now at its highest Read more [...]

Interest Rates Jump on Upbeat Jobs Report

Long-term U.S. mortgage interest rates shot up in the latest week again, in response to investor optimism in the wake of a positive jobs report, according to mortgage giant Freddie Mac Thursday. During the week ended November 12, 2015, the average rate on a 30-year fixed rate mortgage (FRM) jumped to 3.98 percent, excluding fees, up from 3.87 percent last week. The new rate is a two-and-a-half week high, but it is still slightly lower than a year ago when the average rate hit 4.01 percent. The Read more [...]

Mortgage Rates Plunge to 2-Month Low on China Concerns

As the Chinese government continued to devalue its currency and create major financial waves, long-term U.S. mortgage interest rates tumbled to their lowest level in two months, according to mortgage finance company Freddie Mac. During the week ended August 27, 2015, the average rate on a 30-year fixed rate mortgage (FRM) sank to 3.84 percent, excluding fees, down from 3.93 percent the previous week and down from 4.10 percent the year before. "Events in China generated eye-catching volatility Read more [...]

Mortgage Rates See First Increase in Four Weeks

After falling for a whole month, long-term mortgage interest rates showed some growth again in the latest week, according to data from mortgage backer Freddie Mac. The average rate on a 30-year conventional fixed rate mortgage rose to 3.94 percent, excluding fees, during the week ended August 13, 2015, up from 3.91 percent the week before. One year earlier the average rate was higher still at 4.12 percent. The rise in rates was a product of on-target jobs reports, according to Freddie Mac chief Read more [...]

Mortgage Rates Drop to 7-Week Low

After a two-month rest above 4 percent, long-term mortgage rates have dipped back into more familiar territory this week, according to mortgage backer Freddie Mac, being pulled down by overseas stock troubles. The average rate on a 30-year fixed rate conventional mortgage declined to 3.98 percent, excluding fees during the week ended July 30, 2015, down from 4.04 percent the week before. The 30-year rate is also down from one year earlier when it averaged 4.12 percent. "Monday's 8 percent decline Read more [...]

Mortgage Rates Break New 2015 Record High

Confidence in Greece’s EU debt deal and promises from the Federal Reserve Chairwoman to raise rate this year led investors to ease off of Treasury bonds, pushing mortgage interest rates to yearly highs, according to mortgage guarantor Freddie Mac Thursday. The average rate on a 30-year fixed rate conventional mortgage jumped to 4.09 percent, excluding fees, in the latest week, from 4.04 percent the previous week and the highest level of 2015 to date. The rate is still slightly below last year Read more [...]

Mortgage Rates Hit 2015 High

Upbeat data from the housing market helped push long-term mortgage interest rates to the highest levels of 2015 this week, according to mortgage backer Freddie Mac. The average commitment rate on a 30-year fixed-rate conventional mortgage rose to 3.87 percent, excluding fees, during the week ended May 28, 2015, up from 3.84 percent the week before. The last time rates reached this high was the week of December 31, 2014. Still, by historical standards mortgage rates are still near their all-time Read more [...]