Original Source Cleveland Federal Reserve: According to the words of Cleveland Federal Reserve President, Loretta Mester, on Tuesday, there is a need for the United States Federal Reserve to increase the interest rates in 2019 but raised concerns that it could lead to an end of its concerted efforts to reduce its significant bond portfolio before the end of the year. For … [Read more...]
Interest rates hit 8-year high while Mortgage applications drop to 4-year low
According to the data released from the Mortgage Bankers Association Weekly Mortgage Applications Survey for the week ending November 2, 2018, the mortgage applications reduced 4.0 percent from a previous week. The Market Composite Index, which is a gauge of mortgage loan application volume, reduced 4.0 percent on a seasonally regulated basis from one week earlier to the … [Read more...]
As Fannie, Freddie start a second decade deferred, mortgage rates move up again
For the second week, there is an increase in the mortgage rates sustained by a selloff in the bond market, as housing is daunted with uncompleted work in the mortgage market. According to the weekly survey of Freddie Mac, the 30-year fixed rate mortgage averaged 4.54% in the Sept. 5 week by two basis points. The average of the 15-year fixed rate mortgage is 3.99%, an … [Read more...]
Current Hike in Mortgage Rates
The rates for home loans have incredibly gone higher as investors halt interest in safe-haven assets, more so the present decline in the housing market may negate credit facilities to potential housing customers. A weekly survey by Freddie Mac, evaluates a 30-year fixed-rate mortgage averaged at 4.52% in the Aug. 30 week, after reaching its lowest point since mid-April. More … [Read more...]
Weekly Mortgage Applications Decline, Although Rates Drop
According to the report released by the Mortgage Bankers Association, the entire mortgage application volume reduced by 1.7 percent last week but the volume’s value was 15 percent lower in the previous year. A reduction in the mortgage rates should have bolstered the mortgage business, but the reverse is the case in this scenario. In this summer, dwindling affordability is a … [Read more...]
Mortgage Rates And Short-Term Interest Rising At The Same Time: Meaning For Real Estate Investors
A surge in short-term interest rates will lead to higher mortgage rates. This is a factual statement, but the valuable consequences for the real estate investors may not be significant. In the United States, the body that controls the activities of the entire banks in the country is called the Federal Reserve System. It is the sole central bank that operates with a centralized … [Read more...]
Mortgage rates have started their summer collapse.
Even though mortgage rates have not been impressive in recent times, they are swinging in the appropriate direction for individuals who want to buy homes. Freddie Mac, in its most recent data, opined that the 30-year fixed mortgage rate average fell to 4.51 percent with an average 0.5 point in contrast to the 4.53 percent recorded last week, and 3.86 percent last year. For … [Read more...]