Freddie Mac, 30-Year Fixed Rate Mortgage Average in the United States [MORTGAGE30US]... Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MORTGAGE30US, November 3, 2024.
The 30-year fixed mortgage rate has plunged by 69 basis points in a five-week period, its sharpest such drop since late 2008.
The average 30-year mortgage rate climbed to 5.89%, the highest level since 2008, according to new data published Thursday by Freddie Mac.
Fed’s moves to raise rates and wind down its purchases of mortgage-backed securities push up mortgage rates
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Mortgage rates fell for the second straight week, but failed to bolster weakened homebuyer demand.
The latest weekly average mortgage rate hit 6.02%, the highest rate since 2008.
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Mortgage rates jumped higher for the fifth week in a row, further pushing past 6% in the face of yet another aggressive interest rate hike by the Federal Reserve.
Mortgage rates dropped for the second week in a row, notching the largest decline since December, 2008.