Rates Continue to Rise Due to Continued Uncertainty in the Middle East
Mortgage rates increased eleven basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on March 19th. Although the 30 Year Fixed Rate has increased significantly in the past two weeks, it remains nearly half a percentage point lower than the same period last year. Potential homebuyers are poised for a […]
Rates Rise Amid Tensions in the Middle East
Mortgage rates increased eleven basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on March 12th. This puts the 30-year fixed-rate mortgage back in the low 6% range that it spent much of last month in. However, despite this modest uptick, buyers are responding to rates in this range, with […]
Rates Hold Steady as Wholesale Inflation Rises Faster Than Expected
Mortgage rates increased two basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on March 5th. Rates held steady this week, hovering near their lowest level since 2022. In fact, rates are down nearly a full percentage point from this time in 2024, spurring activity from buyers, sellers and owners. As […]
Rates Break Below Important Psychological Barrier, Refinance Activity Increases
Mortgage rates decreased by another three basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on February 18th. That is a total of 13 basis points over the past three weeks. However, more importantly, for the first time in three and a half years, the 30-year fixed rate mortgage dropped […]
Rates Down Eight Basis Points, Fed May Hit The Pause Button On Further Rate Cuts
Mortgage rates decreased by eight basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on February 18th. After three weeks in a row of decreasing rates, we are now one basis point away from the important psychological barrier of rates breaking below 6%. And with rates at their lowest level since […]
Slight Decrease in Rates, Healthcare Sector Shows Strong Job Growth in January
After rising slightly for the past two weeks, mortgage rates decreased two basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on February 12th. Bolstered by strong economic growth, a solid labor market and mortgage rates at three-year lows, housing affordability continues to measurably improve. These factors have caught the […]
Slight Increase in Rates as Manufacturing Sector Shows Signs of Rebound
For the second week in a row, mortgage rates increased one basis point last week according to the Freddie Mac Primary Mortgage Market Survey released on February 5th. Rates are nearly 80 basis points lower than the same period last year and are at their lowest level since September 2024. The combination of improving affordability […]
Mortgage Rates Remain Lower and Steady, Fed Holds Steady
Mortgage rates increased one basis point last week according to the Freddie Mac Primary Mortgage Market Survey released on January 29th. Mortgage rates remain near their lowest levels in three years, which is encouraging for potential homebuyers who have waited to enter the market for some time. Lower rates, combined with strong income growth, have […]
Rates Increase Slightly but Are Still Low Enough to Spur Refinance Activity
Mortgage rates increased three basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on January 22nd. With the economy improving and the average 30-year fixed-rate mortgage nearly a percentage point lower than last year, more homebuyers are entering the market. Mortgage applications increased 14.1 percent from one week earlier, according […]
Rates Fall Significantly on Announcement of Increased MBS Purchases by the GSE’s
Mortgage rates decreased ten basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on January 15th. Late last week, mortgage rates dropped, driving the weekly average down to its lowest level in more than three years. The impacts are noticeable, as weekly purchase applications and refinance activity have jumped, underscoring […]
