Mortgage Rates Jump in Latest Week

Long-term mortgage interest rates skipped higher this week amid foreign bond market fluctuations and mixed economic reports at home, according to mortgage backer Freddie Mac. The average rate on a 30-year fixed rate mortgage (FRM) jumped to 3.80 percent, excluding fees, during the week ended May 7, 2015, up from 3.68 percent the previous week. Compared with last year, the rate is still down from 4.21 percent. The 15-year FRM rate also spiked, increasing to 3.02 percent, up from 2.94 percent Read more [...]

Mortgage Applications Jump in Latest Week

An uptick in the spring home buying market resulted in a surge of mortgage applications during the past week, according to the Mortgage Bankers Association. The MBA’s seasonally adjusted mortgage application index rose 4.6 percent during the week ended March 27, 2015, with the home purchase applications index jumping 6 percent from the previous week. Home purchase requests were also 8 percent higher than the year before. "This week's mortgage application survey falls right into line with Read more [...]

Mortgage Rates Hit 2015 High as Jobs Rebound

Long-term mortgage interest rates jumped up in the latest week, as investors responded to news that American job creation outpaced predictions in February. The average rate on a 30-year fixed-rate conventional mortgage bounced up to 3.86 percent, excluding fees, during the week ended March 12, according to Freddie Mac, up from 3.75 percent the week before . That is the highest level year-to-date although still historically low. The 30-year loan rate has not averaged above 4 percent since November Read more [...]

Mortgage Rates Reach Highest Level of 2015

Long-term mortgage interest rates climbed to a seven-week high, according to mortgage-backing firm Freddie Mac, rising for the second straight week to a new peak for 2015. And the Mortgage Bankers Association reported that those higher rates reigned in mortgage applications during the same week. During the week ended February 19, the average rate on a 30-year fixed rate mortgage jumped up to 3.76 percent, excluding fees, up from 3.69 percent the week before. Compared with last year at this time Read more [...]

Mortgage Rates Plummet to 19-Month Low

A struggling global economy was at the root of plunging mortgage interest rates during the past week, according to Freddie Mac, with long-term rates falling to their lowest point since the end of May 2013. The 30-year fixed rate conventional mortgage carried an average rate of 3.66 percent, excluding fees, during the week ended January 15, 2015, down from 3.73 percent the week before. Rates have not been that low in over 19 months, since right before then-Fed Chairman Ben Bernanke announced plans Read more [...]

Mortgage Rates End Year Well Below Predictions

Long-term mortgage interest rates rose in the latest week, according to mortgage giant Freddie Mac, but still ended the year under 4.0 percent and well under analysts’ forecasts for 2014. "While mortgage rates edged up this week, they remain near 2014 lows,” said Freddie Mac vice president and chief economist Frank Nothaft. “Looking at full year data, the 30-year fixed-rate average for 2014 was 4.17 percent, the highest annual average since 2011.” He pointed to factors pushing rates Read more [...]

Mortgage Rates Plunge to 17-Month Low on Foreign Worries

Having hovered at yearly lows for over a month, long-term mortgage interest rates took a new dive in the latest week as fears about foreign economic woes spooked investors and weaker-than-expected domestic reports pointed to slower growth. The average rate on a 30-year fixed rate mortgage (FRM) sank to 3.80 percent, excluding fees, during the week ended December 18, according to data from Freddie Mac, down from 3.93 percent the week before. One a year ago the average rate was 4.47 percent and Read more [...]

Mortgage Rates Under 4 Percent for Second Straight Week

Long-term mortgage interest rates remained extremely affordable this week, according to mortgage giant Freddie Mac, slipping slightly from the previous week and staying under the 4 percent mark for two weeks in a row. The average interest rate on a 30-year fixed rate mortgage fell to 3.97 percent, excluding points, during the week ended November 26, 2014, down from 3.99 percent the week before and down from 4.29 percent a year ago. "Mortgage rates were little changed on the week with the 30-year Read more [...]

European Financial Worries Push Mortgage Rates to 16-Month Low

Long-term mortgage interest rates plummeted to their lowest point in 16 months, falling below 4.0 percent for the first time this year, according to data from mortgage giant Freddie Mac. The average rate on a 30-year conventional fixed rate mortgage sank to 3.97 percent, excluding fees, during the week ended October 16, 2014. That’s down from 4.12 percent the week before and down from 4.28 percent the year before. That is the lowest the 30-year rate has been since the week of June 20, 2013. "Mortgage Read more [...]

Mortgage Rates Make Largest Weekly Gain of 2014

After remaining almost stationary for the past two months, long-term mortgage interest rates jumped the most of any one week this year, according to mortgage giant Freddie Mac, a product of market speculation about the Federal Reserve’s actions. "Fixed-rate mortgage rates rose this week following the increase in 10-year Treasury yields being partially fueled by market speculation the Federal Reserve might change its interest rate guidance,” commented Freddie mac vice president and chief economist Read more [...]

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on September 18th 2014 in Interest Rate News