Freddie Mac reported higher average mortgage rates last week. The average rate for 30-year fixed-rate mortgages rose by four basis points to 6.71 percent; the average rate for 15-year fixed-rate mortgages rose by three basis points to 6.06 percent.
Category Archives: Financial Reports
S&P Case-Shiller Housing Market Indices: Short Supply of Homes for Sale Pushes Prices Up
The top three cities with the highest home price growth rates as reported in April’s S&P Case-Shiller’s 20-City Home Price Index were Chicago, Illinois with a year-over-year home price gain of 4.10 percent; Atlanta, Georgia posted a year-over-year home price growth of 3.50 percent.
What’s Ahead For Mortgage Rates This Week – June 26, 2023
Last week’s scheduled economic reports included readings on housing starts, existing home sales, and Federal Reserve Chair Jerome Powell’s congressional testimony. Weekly readings on mortgage rates and jobless claims were also released.
What’s Ahead For Mortgage Rates This Week – June 19, 2023
Federal Reserve policymakers left the Fed’s current interest rate range unchanged at 5.00 to 5.25 percent; the Fed decision was announced after a scheduled meeting of the Fed’s Open Market Committee ended on Wednesday.
What’s Ahead For Mortgage Rates This Week – June 12, 2023
Last week’s scheduled economic news included results from Fannie Mae’s National Housing Survey and weekly readings on mortgage rates and jobless claims.
S&P Case-Shiller Home Price Indices Show Mixed Readings in March
Homeowners took a “wait and see” position as mortgage rates rose and concerns over the economy persisted. Those who refinanced their mortgages to low rates during the pandemic weren’t looking to buy new homes or refinance at current mortgage rates near seven percent. Prospective homebuyers faced affordability challenges and concerns over buying at the top of their local real estate markets.
What’s Ahead For Mortgage Rates This Week – May 30, 2023
Homeowners weren’t in a hurry to sell their homes due to the low mortgage rates they obtained during the pandemic. Current mortgage rates are higher than pandemic-era rates, which influenced homeowners to stay in their homes and keep their lower existing mortgage rates.
What’s Ahead For Mortgage Rates This Week – May 22, 2023
Last week’s economic reporting included readings on U.S. housing markets, sales of previously-owned homes, housing starts, and building permits issued. Weekly readings on mortgage rates and jobless claims were also released.
What’s Ahead For Mortgage Rates This Week – May 15, 2023
The U.S. Labor Department reported the month-to-month pace of inflation rose by 0.40 percent in April and matched analysts’ expectations. April’s reading surpassed the March reading of 0.10 percent month-to-month inflationary growth. Inflation rose by 4.90 percent year-over-year in April. Analysts expect inflationary growth to continue, but at a slower pace through 2023.
What’s Ahead For Mortgage Rates This Week – May 8, 2023
Last week’s economic news included reporting on construction spending, the Federal Reserve’s decision to raise its benchmark interest rate, and weekly readings on mortgage rates and jobless claims.