Mortgage rates rise above 7% for first time since May
Mortgage rates rose again for the sixth straight week, with the average 30-year fixed-rate note topping 7% for the first time since May as the housing market continues to struggle.
Mortgage rates climb above 7% to highest level since May
Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.
Mortgage Rates Hold at Highest Level Since May
After climbing to their most expensive level in more than seven months, 30-year mortgage rates held steady Tuesday. Rate movement was mixed for other loan types.
Why mortgage rates are still high despite the Fed rate cuts
As mentioned, mortgage rates haven't fallen in line with the Fed's rate cuts because they depend on factors beyond the agency's benchmark rate, such as the economy and 10-year Treasury bond yields. For example, when the 10-year treasury rate goes up, mortgage rates tend to follow, and vice-versa.
Mortgage Rates Top 7% for First Time Since Mid-2024
Mortgage rates rose above 7% for the first time since mid-2024, an early setback for a housing market that is coming off two consecutive years of poor sales. The average rate on the standard 30-year fixed mortgage rose to 7.
Long-term mortgage rates surpass 7% for the first time since May 2024
Long-term mortgage rates crossed the 7% mark for the first time since May 2024, the latest Freddie Mac Primary Mortgage Survey showed. 30-year fixed-rate mortgages averaged 7.04% as of January 16, up from 6.
Will mortgage rates fall below 6% in 2025? What experts say
"While I'd love to say rates will drop below 6% in 2025, I think it's a moderate probability and not a certainty," says Steven Parangi, a licensed mortgage loan originator and owner of Alpine Mortgage Services. His view aligns with the Mortgage Bankers Association's prediction that rates will stay between 6% and 7% throughout the year.
Mortgage rates top 7%, hitting seven-month high. But relief may be in sight
Mortgage rates rose this week to the highest level since May 2024 during a volatile period for the bonds that closely track them. The average 30-year mortgage rate jumped to 7.04% through Wednesday, up from 6.
Fed may cut rates sooner and faster than expected if disinflation trend holds up, Waller says
By Howard Schneider, Ann Saphir WASHINGTON (Reuters) -Inflation is likely to continue to ease and possibly allow the U.S.
Why are interest rates rising when the Fed has been cutting them?
The yield on the 10-year Treasury has recently soared toward its highest level since 2023, injecting nervousness into the U.S ...
Refinance Rates Move Lower for a Second Day
After hitting a new 5-month peak at the start of the week, 30-year refi rates dipped 11 points in two days. Other refi loan ...
Bank of Canada to cut rates on Jan. 29, cautious over potential US tariff impact
The Bank of Canada will cut interest rates by 25 basis points to 3.00% on Jan. 29, according to a Reuters poll of economists, ...
Breast Cancer Rates Climb Among Younger Women
The increase in breast cancer rates among younger patients is occurring as the incidence of other early-onset cancers — ...
Cancer rates in females surpass males for first time, new data finds
Women younger than 50 are now 82% higher than their male counterparts, up 31% from 2002. New data from the American Cancer ...
LA fire evacuees headed to the Palm Springs area, these hotels and restaurants want to help
If you're a first responder or LA County fire victim headed to the desert for refuge, these businesses and nonprofits are ...
Is Austin Becoming Safer? A Closer Look at Crime Rates Across Texas Cities in 2024
Crime trends across Texas in 2024 reveal Austin's progress and ongoing safety challenges. Explore how it compares to Houston, ...