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...
The Federal Open Market Committee (FOMC) held its 2-day meeting this week, resulting in the key interest rate being left unchanged for a third consecutive time. As it stands, the benchmark federal funds rate is settled at 5.25- 5.5%, a 22-year high that has pushed...
Rates fell once again as the 30-year fixed-rate mortgage averaged 7.03% this week, down from 7.22% one week ago, as reported in Freddie Mac’s Primary Mortgage Market Survey. Six weeks prior, the rate neared 7.80%, indicating that mortgage rates have been on a...
Interest rates seem to have reached a peak, and we’re seeing the 30-year fixed mortgage rate drop to 7.22%, all while the CPI (consumer price index) has finally cooled to 3.2%. With this recent data and signals picked up from Fed Chair Jerome Powell’s...
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