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 interest rates could see a significant increase as soon as this summer based on comments from the most recent Federal Reserve meeting.
The Federal Open Market Committee issued a statement Wednesday removing the word “patient” in relation to its position on interest rates, a sign that the Fed might increase its target rate as early as the second or third quarter of this year.
The Fed’s benchmark federal funds rate has been set to the range of zero to 0.25 percent since December Read more [...]
As markets reacted to the dismal minutes from the last Federal Reserve meeting released Wednesday, rates on long-term mortgage interest rates fell back down near their yearly lows, according to data from Freddie Mac.
The average rate on a 30-year conventional fixed rate mortgage sank to 4.12 percent, excluding fees, during the week ended October 9, 2014, down from 4.19 percent the previous week. Rates are lower than they were last year at the same time when they averaged 4.23 percent.
Other Read more [...]
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 [...]
The average rate on long-term U.S. mortgage loans at the end of July fell back to its original level from the beginning of the month, according to mortgage finance giant Freddie Mac, but rates could start to pick up next week.
The 30-year conventional fixed-rate mortgage carried an average rate of 4.12 percent, excluding points, during the week ended July 31, down slightly from 4.13 percent the previous week. The rates is lower than last year’s 4.39 percent. Rates made little movement overall Read more [...]
Long-term mortgage interest rates fell in the latest week after rising for two, according to mortgage giant Freddie Mac, even as the Federal Reserved announced plans to reduce its market support.
The average interest rate on a 30-year fixed-rate mortgage (FRM) fell to 4.17 percent, excluding points in the week ended June 19, down from 4.20 percent the week before. The new rate is still higher than the 3.93 percent from last year at the same time.
The 15-year FRM slipped to 3.30 percent from Read more [...]
With some encouragement from Federal Reserve Chairwoman Janet Yellen, long-term mortgage interest rates rose in the latest week, according to mortgage giant Freddie Mac, hitting a nine-week peak.
The average rate on a 30-year fixed rate mortgage jumped to 4.40 percent, excluding fees, during the week ended March 27, up from 4.32 percent the week before. Rates have not been this high since the middle of January. Last year at the same time, the average rate was only 3.57 percent.
"Mortgage rates Read more [...]
Long-term mortgage interest rates started the new year higher, according to mortgage guarantor Freddie Mac, as investor confidence grew on indications of a healthier economy Read more [...]
Investors have not reacted as dramatically as expected to the Federal Reserve's recent decision to start tapering its stimulus program. The result is that long-term mortgage interest rates have made little movement over the past two weeks.
During the week ended today, Dec. 26, the average rate on a 30-year fixed rate mortgage (FRM) inched up to 4.48 percent, excluding fees from 4.47 percent, according to Freddie Mac. The week before the Fed's Dec. 18 meeting and announcement the 30-year FRM Read more [...]
With home prices posting record growth over the past year but incomes remaining essentially flat, one Federal Reserve official is warning that a new housing bubble is brewing, threatening to pop in the near future.
"I'm beginning to see signs not just in my district but across the country that we are entering, once again, a housing bubble," Dallas Fed President Richard Fisher told reporters. "So that leads me ... to be very cautious about our mortgage-backed securities purchase program."
The Read more [...]