Home Buyers Remain on Strike, Housing Market Still Frozen as Prices Are Too High, Mortgage Rates Still 7%
Estimated Reading Time: 2 minutes Powell to Congress: Higher rates are “the absolute best thing we can do for the housing market…” – “…particularly for younger people who are not yet in the housing market.” However we want to interpret this, it’s fascinating. Powell told Congress on Tuesday: “There’s no question that higher interest rates […]
Home prices hit another high while mortgage rates drop slightly
Mortgage rates fell from 6.95% to 6.89% last week. (iStock) Mortgage rates continue to fluctuate, declining slightly from last week when average rates were close to 7%. The average rate for a 30-year fixed-rate mortgage was 6.89% as of July 11. Freddie Mac is. Currently, interest rates on 30-year mortgages are lower than they were […]
Mortgage rates crept back up closer to 7% as home prices increase
The average interest rate on a 30-year mortgage rose to 6.95% last week. (iStock ) Mortgage rates rose sharply this week, hovering near 7%. The jump ended a string of declines this week. Rates on a 30-year fixed-rate mortgage averaged 6.95%. Freddie Mac is. “Mortgage rates rose this week, to just below 7 percent,” explained […]