Rates Continue to Fall as Retail Sales Continues to Show Unexpected Strength
Mortgage rates decreased another seven basis points according to the Freddie Mac Primary Mortgage Market Survey released on April 23rd. This is now a total of twenty-three basis points over the past three weeks. Said differently, of the 48-basis point run-up in rates during March and early April, we have now gained back roughly half […]
Rates Decline for a Second Week, CPI Higher Than Expected Due To Oil Prices
Mortgage rates decreased another seven basis points according to the Freddie Mac Primary Mortgage Market Survey released on April 16th. This brings mortgage rates to a four-week low. Compared to one year ago when rates were at 6.83%, this is a meaningful improvement for homebuyers during what is typically the busy spring homebuying season. […]
Mortgage Rates Decline as Labor Market Shows Signs of Bouncing Back
After having increased for the past five weeks, mortgage rates decreased nine basis points according to the Freddie Mac Primary Mortgage Market Survey released on April 9th. Compared to same period last year, rates are 25 basis points lower. This decrease in rates represents a positive development for prospective homebuyers and could spark a more […]
Rates Continue to Rise Amid Economic Uncertainty
Mortgage rates increased for the fifth week in a row, another eight basis points, according to the Freddie Mac Primary Mortgage Market Survey released on April 2nd. However, they are still 18 basis points lower than the same period last year and are still much lower than the 6.75 – 7.00% range that rates that […]
Rates Continue to Increase Amid Continued Middle East Tensions
Mortgage rates increased another sixteen basis points last week according to the Freddie Mac Primary Mortgage Market Survey released on March 26th. This is a 40-basis point increase since recent lows in late February. Despite this, the housing market continues to show gradual improvements compared to a year ago amid recent rate volatility. Purchase and […]
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 […]
