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Mortgage Rates
Mortgage Rates Rise in Response to Several Factors as Housing Activity Slows Creating Opportunity for Property Investors
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...
Feds Keep Benchmark Interest Rate Steady Creating Surge in Real Estate Investment Purchases
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...
Mortgage Rates Drop Yet Again Nearing 8-Month Low as Investors Rush to Lock In Lower Pricing
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...
Investors Buy to Secure Equity as Home Prices Continue to Rise
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...
Feds Keep Key Interest Rate Unchanged Confirming Housing Explosion on the Horizon
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...
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