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Inflation is going up
- Typically, mortgage rates are rising because inflation is going up and the Federal Reserve has changed the target on the federal funds rate to get prices back under control.
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6 days ago · Granted, 2022 saw 30-year mortgage rates rise faster: After sinking to historic lows in the upper 2% range in 2021, the next year saw 30-year rates shoot above 7%. The rise of 2022 increases...
1 day ago · Wells Fargo sees a rate of 6.5% at year-end, up from its January forecast of 6.05%. To illustrate how the change in outlooks could affect your pocketbook, take a $240,000 loan. At Fannie Mae's ...
5 days ago · The 30-year fixed mortgage rate is expected to fall to the mid-6% range through the end of 2024, potentially dipping into high-5% territory by the end of 2025. Here's where mortgage interest...
- Erika Giovanetti
- Loans Expert And Reporter
- Elevated Rates May Tip the Housing Market Into a Recession"After generally improving in the first half of 2023, the residential sector now appears to be contracting alongside the recent move higher in mort...
- Reluctant Sellers Will Continue to Constrain Housing Supply"With mortgage rates at 20-plus-year highs, it doesn't take much to convince potential sellers to hold on to their current mortgage and see how the...
- Home Prices Will Stay High Amid Tight Housing Inventory"In a homebuyer's ideal world, rising mortgage rates would push demand and home prices down enough to make up for high interest payments. But that'...
- New Construction Will Have an Edge Over Existing-Home Sales"New home sales continue to be stronger than existing-home sales, as buyers increasingly turn to newly constructed homes given the dearth of existi...
- Buyers and Sellers Will (Eventually) Adapt to Higher Rates"We expect mortgage rates may notch down slightly as inflation comes under control, but they are unlikely to return to 5% in the near future. That...
Apr 26, 2024 · Why are mortgage rates going up? As of January 2, 2024, mortgage rates seem to have switched back to a downward cycle. However, there are some general things we can say about the conditions in which mortgage rates tend to rise.
Apr 30, 2024 · Jim Lane/Getty. For a 30-year fixed-rate mortgage, the average rate you’ll pay is 7.35% today, up 0.05% over the last week. The average rate for a 15-year fixed mortgage is 6.83%, which is an...
Apr 17, 2024 · Rates on 30-year mortgages moved higher again Tuesday, shooting up almost half a percentage point over the last week. Now averaging 7.65%, 30-year rates are at their most expensive level...
1 day ago · Currently, the average 30-year, fixed-rate mortgage is 7.22% as of May 2, according to Freddie Mac. While rates remain elevated, the Fed signaled that it will begin to cut rates in 2024 ...
