Last week, mortgage rates hit a new low for 2025, as the labor market proved more critical to the bond market than inflation. The big question is: what will happen after the Fed cuts rates this week? Last year at this time, mortgage rates hit a yearly low of nearly 6% and the Fed cut […]
Have Fed rate cuts already been priced into mortgage rates? Read More »
U.S. real estate investors bought about 52,000 homes in the second quarter, the lowest level for that period since 2020, according to a report from Redfin. Purchases were down 6% from a year earlier — the largest drop since late 2023. Redfin, which analyzed purchase records across 39 major metropolitan areas, defines an investor as
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On Thursday, mortgage rates data from Mortgage News Daily (MND) showed that the 30-year fixed rates for government loans fell below 6%. As of Thursday afternoon, the average Federal Housing Administration (FHA) loan rate was 5.97% and the U.S. Department of Veterans Affairs (VA) rate was 5.99%. Mortgage News Daily also reported 15-year fixed rates
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Mortgage rates have reached a new low for 2025, despite the Consumer Price Index (CPI) inflation being well above the target and showing a stronger increase in the core goods component. Why are mortgage rates at 6.27%? Jobless claims experienced a significant spike today, which suggests that the labor market may not be as strong
Mortgage rates hit new 2025 low as jobless claims spike Read More »
Mortgage rates remain below the 50-year average, but most homebuyers see them as unusually high — a perception that is driving stress, delaying purchases, and reshaping major life decisions, according to a nationwide survey conducted in August. The survey of more than 1,000 buyers, released this week by Tomo Mortgage, highlights the gap between economic
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Mortgage rates fell by a whopping 15 basis points this week, to their lowest point in almost a year, as Fed watchers are now certain a short-term rate cut is in the offing, Freddie Mac reported. The 30-year fixed rate mortgage was at 6.35% on Sept. 11, down from 6.5% one week ago, the Freddie
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Treasuries rose, led by short-dated notes, after a reading on wholesale inflation came in weaker than expected, cementing bets that the Federal Reserve will start to cut interest rates next week. The yield on two-year notes, which closely track expected moves by the Fed, fell as much as four basis points to 3.52%, while the
Treasuries gain as wholesale inflation unexpectedly declines Read More »
US mortgage rates declined last week to an almost one-year low, sparking a surge in refinancing activity and encouraging prospective buyers to step off the sidelines. The contract rate on a 30-year mortgage fell 15 basis points to 6.49% in the week ended Sept. 5, according to Mortgage Bankers Association data released Wednesday. Rates on
US mortgage rates at 11-month low rekindle home finance activity Read More »
You’ve been waiting for what feels like forever for mortgage rates to finally budge. And last week, they did – in a big way. On Friday, September 5th, the average 30-year fixed mortgage rate fell to the lowest level since October 2024. It was the biggest one-day decline in over a year. What Sparked the
Mortgage Rates Just Saw Their Biggest Drop in a Year Read More »
Lower mortgage rates prompted mortgage applications to increase 9.2% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Sept. 5. Last week’s results include an adjustment for the Labor Day holiday. On an unadjusted basis, the index decreased 3% compared with the previous
Mortgage applications jump nearly 10% as rates drop Read More »