The numbers: Mortgage rates remain above 7%, slowing demand for refinancing and dragging overall mortgage demand down for the seventh week in a row. Mortgage applications fell 0.1% this week, Read more
Tag: 15yearmortgage
Mortgage rates surpass 7%, Freddie Mac says — ‘leading to greater stagnation in the housing market’
High mortgage rates continue to pressure the housing market, as the sector undergoes a deep slow down after two years of blockbuster growth. The 30-year fixed-rate mortgage averaged 7.08% as Read more
Mortgage rates surge to the highest level since April 2002. ‘The next several months will undoubtedly be important for the economy and the housing market.’
The numbers: U.S. mortgage rates have resumed their journey upwards, hitting a 20-year high. The 30-year fixed-rate mortgage averaged 6.92% as of October 13, according to data released by Freddie Read more