Remove Fixed-rate mortgage Remove Investor Remove Mortgages Remove New Construction
article thumbnail

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% The 30-year fixed-rate mortgage averaged 6.6%

article thumbnail

Mortgage rates inch closer to 7%

Housing Wire

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. The 25-basis point increase to the federal funds rate was widely anticipated and priced in by capital markets. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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. As inflation slows, mortgage rates decreased this week,” said Sam Khater, Freddie Mac ’s chief economist in a statement.

Mortgages 356
article thumbnail

MBA forecast for 2021: Prepare for rising mortgage interest rates

Housing Wire

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. However, he forecasted that rates will steadily rise over the next year. MBA forecasts mortgage originations to total $3.18

Mortgages 404
article thumbnail

What Will the Real Estate Market Bring in 2024? Market Corrections or Rising Property Prices?

Realty Biz

The 30-year fixed-rate mortgage rate was at 6.6 Still, the market and prices can cool off, giving buyers and investors more breathing room. A real estate market forecast can only be complete when discussing interest rates. Simultaneously, the 15-year fixed mortgage's APR was 6.68

article thumbnail

Housing Market Crash: Wells Fargo’s 1980s Recession Warning

Marco Santarelli

The Looming Threat of a Housing Market Crash Fears of a housing market crash are looming large, casting a shadow of uncertainty as mortgage interest rates hover near 8%. As concerns grow, investors are advised to closely monitor the housing market's unpredictable fluctuations.

article thumbnail

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. In comparison, a person paying $360,000 for a home today will have a mortgage payment of $1,650.