Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. by mid-year and to decline further to 6.2%

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Housing Wire

FEBRUARY 17, 2024

Will mortgage rates break toward 8% again, making another 2024 data line that looks like a carbon copy of 2023? It’s not part of my 2024 forecast, but since the Federal Reserve likes playing with fire , let’s look at where we are with mortgage rates and their impact on weekly housing data.

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Mortgage Inventory New Listings Housing Market 506

Appraisal Buzz

APRIL 17, 2024

Mortgage application volume increased 3.3% during the week ended April 12, driven mainly by a 5% increase is purchase applications, according to the Mortgage Bankers Association’s (MBA) Weekly Applications Survey. Mortgage rates increased across the board, with the 30-year fixed-rate at 7.13 the previous week.

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Housing Wire

APRIL 18, 2024

The recent hotter-than-expected inflation reading sent mortgage rates upward. On Thursday, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.31%, up from 7.19% a week earlier. There’s no guarantee that rates will come down soon.” million units, up 4.7%

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Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. At the end of 2023, they anticipated six rate cuts for the year.

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Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. And they hope that rates will soon fall. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024.

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Mortgage Sellers New Listings Buyers 387

Housing Wire

FEBRUARY 22, 2024

Mortgage rates continued their ascension toward 7% this week, raising doubts about the approaching spring homebuying season. The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, an increase from last week ’s figure of 6.77%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

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Housing Wire

FEBRUARY 21, 2024

Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% 16, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.77% as of Feb.

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Mortgage Retail Home Value Marketing 403

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data.

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Inventory Mortgage New Listings Sellers 537

Housing Wire

NOVEMBER 2, 2023

Mortgage rates stabilized this week as the Federal Reserve decided to keep its rates unchanged Wednesday. However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, according to Freddie Mac ‘s Primary Mortgage Market Survey.

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Mortgage Investors Housing Market Marketing 451

Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? Also, when mortgage rates rise, the inventory peak happens later in the year. However, when mortgage rates rise and demand gets hit, the price cut percentage data grows year over year. Is the seasonal bottom going to happen later than I want?

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Inventory Mortgage New Listings Housing Market 496

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

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Mortgage New Listings Loan Officers Inventory 480

Appraisal Buzz

MARCH 29, 2024

Mortgage rates decreased slightly this week, with the average rate for a 30-year fixed-rate mortgage falling to 6.79%, down from 6.87% last week, according to Freddie Mac’s Primary Mortgage Market Survey. A year ago at this time, the average rate for a 30-year was 6.32%.

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Mortgage Inventory Appraisal Marketing 367

Housing Wire

SEPTEMBER 30, 2023

Why are mortgage rates rising? The jobless claims data is my key 2023 economic data line for the bond market and mortgage rates because I don’t believe the Fed will pivot until the four-week moving average of jobless claims gets above 323,000. Mortgage rates went from 7.39% to a high of 7.65% and ended the week at 7.44%.

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Appraisal Buzz

APRIL 23, 2024

New home sales in March were at a seasonally adjusted annual rate of 693,000, an increase of 8.8% month supply at the current sales rate. New home sales have generally been strong so far in 2024, despite higher mortgage rates and rising home prices. compared with February and up 8.3% Census Bureau and U.S.

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Housing Wire

OCTOBER 5, 2023

Mortgage rates kept climbing this week as spreads on the 10-year Treasury yield widened, reaching a 16-year high. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct.

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Housing Wire

NOVEMBER 30, 2023

Mortgage rates headed lower this week as the 10-year Treasury yield dropped below 4.3% The 30-year, fixed mortgage rate averaged 7.22% for the week ending Nov. 30, according to Freddie Mac ‘s Primary Mortgage Market Survey. Bright MLS ’ 2024 forecast indicates that mortgage rates will fall to 6.5%

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Mortgage Inventory Tools Investors 508

Housing Wire

FEBRUARY 5, 2024

The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. It’s the first time since December that the average 30-year fixed rate has eclipsed 7%. EST, up from 4.03% on Friday.

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Mortgage Investors Marketing 452

Housing Wire

OCTOBER 3, 2023

Mortgage rates and bond yields kept rising Tuesday as the job openings unexpectedly increased more than anticipated. And will job openings continue higher, pushing mortgage rates even higher in the future? As I write this article today, the 10-year yield is 4.79%, with mortgage rates at 7.72%.

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Mortgage Marketing Business Housing Market 482

Housing Wire

FEBRUARY 15, 2024

Mortgage rates climbed 13 basis points this week on the back of Tuesday’s strong inflation reading. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, an increase from last week ’s figure of 6.64%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

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Mortgage Buyers Inventory Marketing 388

Housing Wire

MARCH 8, 2024

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. The Federal Reserve ’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%. Today, we are at 157,808,000. percent, the U.S.

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Housing Wire

APRIL 12, 2024

That’s because many of these potential hires are locked into super-low 30-year mortgages. homeowners carry mortgages with interest rates below 3%, while nearly 35% have rates ranging between 3% and 4%. homeowners carry mortgages with interest rates below 3%, while nearly 35% have rates ranging between 3% and 4%.

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Housing Wire

FEBRUARY 1, 2024

Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Is the housing market normalizing?

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Mortgage Housing Market Sellers Inventory 414

Housing Wire

DECEMBER 20, 2023

Mortgage demand fell for the first time since November as mortgage rates reached their lowest level since June 2023. 15 compared to the previous week, according to data from the Mortgage Bankers Association (MBA). Total home loan applications decreased by 1.5% for the week ending Dec.

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Mortgage Marketing Finance 353

Housing Wire

NOVEMBER 4, 2023

After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? Last year, the seasonal peak for housing inventory was Oct.

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Mortgage Inventory New Listings Real Estate 456

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

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Mortgage Inventory Retail Construction 528

Housing Wire

NOVEMBER 25, 2023

Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing inventory has more to do with seasonality factors than lower mortgage rates. It’s essential to think about rates in this light.

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Inventory Mortgage New Listings Buyers 523

Housing Wire

FEBRUARY 6, 2024

Introducing the NEW HousingWire Mortgage Rates Center, a resource for housing professionals to access real-time mortgage rates data and the insights that fuel understanding and decision-making. 6: “Mortgage pricing should be a bit better today.

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Mortgage Inventory Housing Market Marketing 340

Housing Wire

DECEMBER 2, 2023

Mortgage rates almost fell below 7%, the 10-year yield is below 4.25% again, and people are seriously talking about Fed rate cuts in 2024. Mortgage rates have fallen by almost 1% in a short time, and it has created four straight weeks of positive purchase application data. What a week!

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Mortgage Inventory New Listings Sellers 542

Housing Wire

DECEMBER 28, 2023

As we prepare to bid adieu to 2023, mortgage rates this week again stayed below seven percent. The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, a slight decrease from the 6.67% rate recorded on Dec. 21 according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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Mortgage Finance Housing Market Marketing 484

Housing Wire

JANUARY 25, 2024

Mortgage rates stabilized in the past week but remain close to the narrow range observed since the start of this month. The 30-year fixed-rate mortgage averaged 6.69% as of Jan. 25, an increase from last week’s figure of 6.60%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

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Mortgage Inventory Real Estate Housing Market 381

Housing Wire

NOVEMBER 18, 2023

Did the recent move lower in mortgage rates turn the housing market positive? With mortgage rates moving almost 75 basis points lower from the highs, does the data show that demand has improved? I talked about how much lower mortgage rates can go from here in this recent podcast.

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Mortgage Inventory New Listings Housing Market 446

Housing Wire

JANUARY 12, 2024

Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. But with RateReduce Sell, sellers will be able secure a lower rate by buying down points permanently.

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Sellers Real Estate Agent Loan Officers Mortgage 403

Appraisal Buzz

MARCH 26, 2024

Mortgage rates will likely remain “higher for longer” than previously forecast, according to Fannie Mae’s Economic and Strategic Research (ESR) Group. Because the job market remains strong and inflation continues to rise faster than expected, the number of rate cuts by the Federal Reserve could be curtailed later this year.

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Mortgage Housing Market Marketing Appraisal 396

Housing Wire

FEBRUARY 14, 2024

Mortgage demand was weaker last week as interest rates moved higher across the board. Mortgage applications decreased by 2.3% 9, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. the previous week.

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Mortgage Retail Inventory Marketing 359

Housing Wire

NOVEMBER 22, 2023

Mortgage rates dropped significantly in the last few weeks, but the cost of borrowing remains high prompting many homebuyers to wait for even lower rates. The 30-year, fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac ‘s Primary Mortgage Market Survey.

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Mortgage Construction Inventory Marketing 441

Housing Wire

JANUARY 11, 2024

Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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