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 […]
Mortgage Rates Remained Virtually Unchanged During the Holiday Period
Mortgage rates increased one basis point last week according to the Freddie Mac Primary Mortgage Market Survey released on January 8th. In the first full week of the new year, mortgage rates remained within a narrow range, hovering close to the 6% mark. The combination of solid economic growth and lower rates has led to […]
Rates Continue Their Gradual Decline, Fed Has Upcoming Rate Decision Next Week
Emerging from the Thanksgiving holiday, mortgage rates decreased another four basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on December 4th. With rates trending generally lower in the second half of this year, mortgage rates are half a percent lower compared to this time last year, creating a more favorable […]
Rates Remain Flat for Third Week as Fed Weights December Rate Decision
Mortgage rates increased another two basis points again last week according to the Freddie Mac Primary Mortgage Market Survey released on November 20th. This is the third small increase in as many weeks as both the 30 year and 15 year fixed rate mortgages have remained essentially flat. This is helping stimulate purchase activity. Mortgage […]
