will hold interest rates steady until the spring. The 30-year fixed-rate mortgage rose and averaged 6.9% as of February 22, according to data released by Freddie Mac FMCC -2.02% on Thursday.
Builders are lacking confidence with home prices high and mortgage rates hovering around 7%. But that could be good news for the Fed.
Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it’s been much of this year.
Demand for buying a home will remain strong in 2024 even though mortgage rates have been around 7% this year.
Would-be homebuyers have no choice but to deal with elevated rates if they want to buy this spring. The average rate on a 30-year fixed loan hit 7.1%, according to Freddie Mac. That’s the first time the weekly average has exceeded 7% this year and a significant jump from last week’s 6.88% mark. A separate index tracking daily rate changes found even bigger swings. The daily average rate on the 30-year fixed mortgage hit 7.43% on Thursday, a steep climb from barely 7% at the beginning of the month, according to Mortgage News Daily. The daily ...
The average 30-year fixed mortgage rate hit 7.49% on Tuesday for the first time since late... from Mortgage News Daily revealed. Home-purchase applications fell for a sixth week to the...
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Sales of previously owned homes rebounded in February to the highest level in a year as buyers come to terms with elevated mortgage rates.
Shop for a home now or hold out for possibly lower mortgage rates? That’s a question confronting many home shoppers this spring homebuying season amid widespread expectations that mortgage rates co...
It looked like home prices were finally cooling off late last... rate for a 30-year mortgage was 7.49% on October 5, according to government-backed lender Fannie Mae. In fact, an NBC News...