Opinion: Will We See 4.13% Mortgage Rates in 2024?
Mortgage rates are incredibly difficult to predict. But if history is a guide, rates could be on their way down.
November 22, 2023 7 MIN
Mortgage rates are incredibly difficult to predict. But if history is a guide, rates could be on their way down.
ARMs are looking better and better after 30-year fixed rates touched a 20-year high.
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.
Demand has tripled for adjustable-rate mortgages as Americans grapple with surging costs for home loans with rates fixed for 30 years.
The report sent bond yields, a benchmark for mortgage rates, soaring to highs not seen since November 2019, before the first Covid-19 infection was identified.
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 strength of the labor market in the closing weeks of 2021 probably points to a Fed rate hike as early as March, Wells Fargo economists said.
Mortgage rates rose this week as stronger-than-expected economic data and concerns about inflation drove bond investors to demand higher yields for their investments.
The average U.S. rate for a 30-year fixed-rate home loan dropped two basis points to 2.88% this week, the third consecutive decline, Freddie Mac said.
Home loan rates are falling in tandem with Treasury yields, which serve as a benchmark for mortgage-bonds, as investors worry about a resurgence of the Covid-19.
The average U.S. rate for a 30-year fixed mortgage rose to 3.02% from 2.93% from last week, Freddie Mac said on Thursday.
The average U.S. rate for a 30-year fixed mortgage fell to 2.93%, marking the ninth week that rates have been at 3% or lower, Freddie Mac said.
While the Covid-19 pandemic is receding in the U.S., a weak global economy is boosting demand in the bond markets.
Mortgage rates ticked higher this week while remaining below the 3% threshold as bond investors worried about rising Covid-19 infections, Freddie Mac said.
After declining since mid-May, the average U.S. rate for a 30-year fixed mortgage rose this week, Freddie Mac said.
The average U.S. rate for a 30-year fixed mortgage rose to the highest since April 2010, Freddie Mac said in a report on Thursday.
The average U.S. 30-year fixed rate for so-called conforming loans given to the best-qualified borrowers is the highest since February 2011.
The increase came as the Fed concluded a two-year program buying Treasuries and mortgage bonds to prevent a credit crunch during the pandemic.
