Long-term mortgage interest rates moved up in the latest week, according to mortgage guarantor Freddie Mac, but with the Fed unsure of its own rate direction for 2015 there may be fewer mortgage rate increases through the end of the year.
The average rate on a 30-year fixed rate mortgage (FRM) rose to 3.82 percent, excluding fees, during the week ended October 15, 2015, up from 3.76 percent the week before. The new rate is down compared with the previous year when it averaged 3.97 percent.
The Read more [...]
Long-term mortgage interest rates made little movement in the latest week, according to data from mortgage giant Freddie Mac, even though foreign markets continued to scare investors, a condition that typically pushes rate down.
The average rate on a 30-year fixed-rate mortgage slipped to 3.85 percent, excluding fees, during the week ended October 1, 2015, down from 3.86 percent the previous week. Compared with the year earlier, rates were down from 4.19 percent.
Fifteen-year fixed-rate mortgages Read more [...]
The Federal Reserve decided to again leave it target interest rate unchanged today, citing the volatility in the global markets as its motive for inaction.
“To support continued progress toward maximum employment and price stability, the Committee today reaffirmed its view that the current 0 to 1/4 percent target range for the federal funds rate remains appropriate,” the Federal Open Market Committee wrote in its statement . The federal funds rate has been unchanged since December 2008, during Read more [...]
Mortgage bankers believe that 2016 will be a booming year for home sales even as they also predict mortgage interest rates will rise by the end of 2015, according to a new survey from Lenders One.
During a survey conducted at the Lenders One Summer Conference in August, 89 percent of mortgage bankers said they think interest rates will jump before the end of the year while 60 percent forecasted that 2016 will still be a sellers’ housing market.
“Mortgage bankers are generally optimistic Read more [...]
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 [...]
Even as total U.S. existing-home sales rose for third straight month, fewer first-time home buyers were able to jump into the market, according to the latest report from the National Association of Realtors.
Existing-home sales increased 2.0 percent in July to a seasonally adjusted annual rate of 5.59 million, up from a downwardly revised 5.48 million in June. Compared with last year, sales are up 10.3 percent and are now at an eight-and-a-half year high. Sales have risen on a year-over-year Read more [...]
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 [...]
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 [...]
U.S. home prices continued their upward climb in May, according to real estate data firm CoreLogic, with historically low mortgage interest rates fanning the flames of home buying.
“Mortgage rates on 30-year fixed-rate loans remained below 4 percent through May, helping to fuel home-purchase activity,” said Frank Nothaft, chief economist for CoreLogic. “Our homes-for-sale listing data shows that markets with high demand and limited supply, such as San Francisco, are recording double-digit Read more [...]
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 [...]