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 [...]

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 Rates Sink to 2-Month Low

A weak jobs report for March sent long-term mortgage interest rates sliding down during the latest week, according to mortgage giant Freddie Mac, with the 30-year fixed-rate mortgage (FRM) hitting a two-month low. The average rate on a 30-year conventional FRM fell to 3.66 percent with an average point of 0.6, during the week ended April 9, 2015, down from 3.70 percent the week before. Compared with a year ago, the rate is also down from 4.34 percent. The current rate is the lowest it has been 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 Continue Downward Plunge

Long-term mortgage interest rates careened downhill again in the latest week, according to mortgage giant Freddie Mac, the result of a handful of anemic domestic financial reports. The average rate on a 30-year fixed rate conventional mortgage fell to 3.59 percent, excluding fees, during the week ended February 5, 2015, down from 3.66 percent the previous week. The new rate is down from 4.32 percent one year. Average rates have now tied the 20-month low of 3.59 percent during the week of May 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 [...]

Stock Market, Low Inventory Stymied November Home Sales

Sales of existing U.S. homes slumped in November, according to the National Association of Realtors, pulling down the median price as the supply of homes contracted and stock market worries held buyers back. Total existing-home sales sank 6.1 percent to a seasonally adjusted annual rate of 4.93 million in November, down from 5.25 million in October, the highest level of the year. Compared with a year ago, sales are still up 2.1 percent however. The median home price fell to $205,300, down from 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 [...]