US single-family housing starts dented by Hurricane Beryl, higher mortgage rates
Erin Sykes, chief economist at Nest Seekers International, weighs in on “The Bottom Line” as high interest rates continue to hurt the housing market. U.S. single-family home construction fell to its lowest level in a year and a half in July, partly due to the disruption to housing activity caused by Hurricane Beryl, but an […]
Refinances surge on easing mortgage rates
Erin Sykes, chief economist at Nest Seekers International, weighs in on “The Bottom Line” as high interest rates continue to hurt the housing market. While mortgage rates remain uncomfortably high for many prospective homebuyers and sellers, recent declines in interest rates have led to a significant increase in demand for refinancing. The Mortgage Bankers Association […]
Mortgage rates rise still at one-year lows
NAHB CEO Jim Tobin talks about the changes in the real estate industry as new rules for real estate agents come into effect and how the market will impact the industry. Mortgage rates rose slightly this week but remain at their lowest levels in more than a year. Freddie Mac’s latest primary mortgage market survey […]
Today's 15- and 30-year mortgage rates hold at lowest level in over a year | August 13, 2024
As of August 13, the median interest rate for a 30-year fixed rate mortgage is 6.490%, unchanged from yesterday, and the median interest rate for a 15-year fixed rate mortgage is 5.625%, also unchanged from yesterday. Analysts expect lower interest rates are on the way. The Federal Reserve Cuts could be considered in September. Mortgage […]
Mortgage rates average 6.43% this week, the lowest in a year
Weak employment statistics also contributed to the decline in interest rates. (iStock) Mortgage rates fell sharply this week, reaching their lowest levels in more than a year. According to Freddie MacThe average interest rate on a 30-year fixed-rate mortgage is 6.47%, down from 6.73% last week. “Mortgage rates plummeted to their lowest level in more […]
Mortgage rates fall to 6.47%, lowest level in more than a year, as Fed cut looms
Mortgage rates fell to their lowest level in more than a year, boon to the struggling housing market. The average interest rate on a 30-year fixed-rate loan fell to 6.47% this week, down from 6.73% last week, according to a survey conducted by mortgage broker Freddie Mac. At the same time last year, the average […]
Mortgage rates fall sharply to lowest level in over a year
Erin Sykes, chief economist at Nest Seekers International, opines on “The Bottom Line” that high interest rates continue to hurt the housing market. Mortgage rates plummeted to their lowest levels in more than a year this week, boosting demand in the housing market. Freddie Mac’s latest primary mortgage market survey released Thursday showed that the […]
Mortgage rates hit lowest level in over a year: report
New data showed mortgage rates hit their lowest since April 2023 as recession fears spread to the housing market. The real estate company Redfin report The company said Thursday that mortgage rates hit a daily average of 6.34% earlier this week, citing recent weak employment data and resulting “recession fears” as the main driver for […]
Mortgage rates drop to lowest level since May 2023
Key Metrics Home purchase Applications surged last week as mortgage rates fell to their lowest levels in more than a year. Mortgage Bankers Association (MBA) Home loan application New data released Wednesday showed mortgage rates rose 6.9% in the week ending Aug. 2. At the same time, the average rate on the popular 30-year mortgage […]
Mortgage rates drop to new low as Fed grows closer to slashing interest rates: Freddie Mac
Mortgage rates fell again this week to their lowest levels since February, according to Freddie Mac. (iStock) Mortgage rates fell again this week to their lowest since February on expectations that the Federal Reserve will cut rates by 25 basis points in September, according to Freddie Mac. According to Freddie Mac’s latest report, the average […]