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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% by the end of 2024 from the current federal funds rate range of 5.25%-5.5%.

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Mortgage rates fell 18 bps, but that’s of little solace to homebuyers

Housing Wire

Mortgage rates dropped to 6.78% this week, the biggest weekly decline since mid-March, as investors digested a raft of mixed incoming economic data. Homebuilder sentiment rose for the seventh consecutive month and new construction activity slightly pulled back as the cost of materials picked up.

Mortgages 356
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Mortgage rates inch closer to 7%

Housing Wire

Freddie Mac’s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 6.81% as of July 27, up from last week ’s 6.78%. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

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MBA forecast for 2021: Prepare for rising mortgage interest rates

Housing Wire

Fratantoni brought up this point, saying that short-term rates will stay at 0% at least until 2022 and said that we will see a very cautious Fed when it comes to raising rates from here. However, he forecasted that rates will steadily rise over the next year. Housing inventory and prices.

Mortgages 406
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What to Expect from Real Estate During Inflation

Realty Biz

However, inflation has benefits for real estate investors whether it is your primary residence or investment properties. Specific to real estate, inflation is going to drive both higher mortgage rates and higher property values. And it probably will be once the higher interest rates kick in.

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5 predictions for the 2022 housing market

Housing Wire

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans. for 30-year fixed-rate loans.

Marketing 545
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Home Prices Have Hit a New High—Is the Housing Market About To Crash?

Realtor.com

Now, there isn’t enough new construction to meet demand and investors aren’t going wild driving up prices. Most importantly, bad mortgages—the key factor in the financial crisis—have largely disappeared from the market. Or will they wind up owing more on their loans than their homes are worth?

Marketing 144