According to recent data released by the Mortgage Bankers Association (MBA), U.S. mortgage rates significantly jumped at the end of December. This resulted in a drop in mortgage demand and refinance activity.
The contract rate on a fixed 30-year mortgage was 6.97% in the two...
Despite expectations of further interest rate cuts by the Federal Reserve, the 30-year fixed mortgage rate in the U.S. jumped last week to its highest level since July. At the same time, demand for mortgages and refinancing has dropped, according to a report by...
Homebuyers are increasingly backing out of deals as mortgage rates stand at a 23-year high. Dara from Redfin found that around 53,000 home purchase agreements in the US were abandoned in September; 16.3% of all home sale contracts that month. This is the highest...
U.S. mortgage rates retreated slightly this week but remained above 7% for a fourth consecutive week. According to data from Freddie Mac, the 30-year fixed mortgage fell from 7.18% to 7.12%. Resilient mortgage rates have lowered both supply and demand; while buyers are despondent due...
U.S. mortgage rates surged past 7% this week, hitting their highest level in over two decades. Freddie Mac's release on Thursday showed that mortgage rates went from 6.96% last week to 7.09%, marking only the third occasion that they have risen above the 7%...
Real estate experts have warned that the U.S. housing market appears unlikely to become significantly more affordable in the near term. This comes as both mortgage rates and home prices remain high.
Bankrate mortgage analyst Jeff Ostrowski claimed that while mortgage rates and home prices...
