Mortgage Rates Predictions
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Mortgage Rates Fall for Sixth Time
Mortgage rates fell for the sixth time in a row, with the thirty-year mortgage landing at the lowest level since April. According to Freddie Mac's weekly report, 30-year fixed-rate mortgages averaged 6.44% this week, down from 6.48% the week prior. This was the lowest level for 30-year fixed-rate mortgages since the first week in April, when rates averaged 6.43%. One year ago, the 30-year averaged 5.71%.
"Mortgage rates continued to drift lower this week in large part because of the cooling in Read More...
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Mortgage Applications Decrease
The volume of mortgage applications decreased slightly last week.
Mortgage applications fell as interest rates hit the highest point in four years, according to the Mortgage Bankers Association.
The seasonally adjusted index of mortgage application activity for the week ending June 16 fell by 0.8% when compared to the week prior.
The seasonally adjusted purchase mortgage index was up 0.1%, while the purchase index was substantially below last year's 479.4.
The seasonally adjusted index of re Read More...
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Mortgage Rates Increase Slightly
Mortgage rates increased slightly this week, after six straight weeks of declines.
According to Freddie Mac's weekly survey, the 30-year, fixed-rate mortgage averaged 6.47% for the week ending September 7, up slightly from 6.44% the week prior. One year ago, the 30-year averaged 5.71%.
Mortgage rates are expected to fluctuate in the upcoming months as new economic data is released, said Frank Nothaft, Freddie Mac vice president and cheif economist. He expects to see rates remain under the 7% r Read More...
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