The average mortgage rate on a 30-year loan hit a record high for 2024, breaking through the 7% mark and settling in at 7.10%, as reported by Freddie Mac. This rise in rates has made homeownership out of reach for many, increasing the demand for rental properties...
The recent Consumer Price Index (CPI) report, released this week by the Bureau of Labor Statistics, came in hotter than anticipated, impacting mortgage rates and effectively casting a shadow on the spring buying season. The data revealed a 0.4% increase, landing at...
The average long-term U.S. mortgage rate rose last week to its highest point in 10 weeks, adding to the list of closely watched economic data released just days apart. According to Freddie Mac, the 30-year fixed-rate mortgage experienced an increase of 13 basis points...
In the first monetary policy meeting of 2024, the Federal Reserve announced it will hold its benchmark interest rate at 5.25 to 5.50 percent, marking the fourth consecutive session in which the rate has remained unchanged. Drawing conclusions from the housing...
The average fixed-rate 30-year mortgage continues to fall as it dropped by 0.06 percentage points, landing at 6.6% for the week ending January 18th, as reported by Freddie Mac. The current rates, marking a low not seen since May 2023, are stirring up expectations...
October marked a two-decade high for mortgage rates, nearing 8%, which placed housing activity on lock and key. Rates have fallen since then, triggering an increased demand in both buying and selling that has housing prices on an upward swing. As this initial phase of...
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