Mortgage Rates Jump to Two-Year High, Freddie Mac Says
Mortgage rates jumped to a two-year high this week as the economy showed signs of shaking off the Omicron surge.
February 10, 2022 2 MIN
Mortgage rates jumped to a two-year high this week as the economy showed signs of shaking off the Omicron surge.
The upward trajectory of mortgage rates stalled as economic data showed Omicron's impact on the U.S. economy.
The 18% jump in mortgage refinancing applications came as home-loan rates rose to a 22-month high last week.
As mortgage rates hover near two-year highs, Federal Reserve Bank of Kansas City President Esther George gave a speech on Monday that likely will send them higher.
More than half of U.S. states don't require adequate disclosures to homebuyers about past flooding events or a property's location in a flood plain, Fannie Mae said.
This week’s jump in mortgage rates shrank the pool of eligible borrowers who would benefit from a refi to the lowest level since 2019, Black Knight said.
The average U.S. rate for a 30-year fixed mortgage jumped by almost a quarter of a percentage point this week, Freddie Mac said.
The Fed's signal last week that it was getting ready to shrink its balance sheet was a "big surprise" to the financial markets, a Schwab report said.
The average rate on a 30-year fixed mortgage rose in 2021’s final week to a level that was nearly half a percentage point higher than a year earlier, MBA said.
Mortgage rates fell as investors' worries about the hyper-transmissible Omicron variant outweighed inflation jitters.
Allowing the VA loan fees to reset as scheduled will save veterans and active-duty military members about $200 million annually, the lenders’ group said.
Shelling out more upfront means you'll get a lower rate and a smaller mortgage payment, but is it the right course for everyone?
Should you buy a house now, at whatever mortgage rate is available, and plan to refinance later?
Opting for an ARM instead of a fixed-rate mortgage can be a good strategy if a homebuyer doesn't plan to stay in the house for more than five to seven years.
