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☆ Mortgage rates drop for fifth straight week
▼ + stars: | 2023-11-30 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

It’s the fifth straight week rates have moved lower. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. According to a forecast from Realtor.com, the average mortgage rate is projected to be 6.8% in the next year. “As mortgage rates are expected to remain elevated, current homeowners with low mortgage rates are expected to stay put, leading to a decline in for-sale inventory,” said Xu.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, “, Khater, Jiayi Xu, Xu, ” Xu, Joel Kan, ” Kan Organizations: DC CNN —, Inflation, Federal, Realtor.com, Treasury, Mortgage, Association Locations: Washington

☆ Mortgage rates fall for third straight week, bringing some homeseekers off the sidelines
▼ + stars: | 2023-11-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Mortgage rates have cooled in recent weeks as markets absorbed the latest economic indicators, including an improving inflation picture. “For the third straight week, mortgage rates trended down, as new data indicates that inflationary pressures are receding,” said Sam Khater, Freddie Mac’s chief economist. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “The gap between the 10-year Treasury yield and the 30-year fixed rate mortgage rate is historically around 180 basis points,” she said. “While the gap has narrowed somewhat, the 30-year mortgage rate remains 280 basis points higher than the bond yield.”By historical norms, she said, mortgage rates should be under 6.5%.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Price, Jiayi Xu, Jerome, Powell, ” Xu, Bob Broeksmit, Lawrence Yun, ” Yun, “, Lisa Sturtevant, ” Sturtevant Organizations: DC CNN —, Mortgage, Association, Federal Reserve, Treasury, Consumer, “, National Association of Realtors, Bright MLS Locations: Washington

☆ Mortgage rates jump higher, closing in on 7%
▼ + stars: | 2023-07-13 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —US mortgage rates climbed higher this week, inching closer to 7% and reaching their highest level since November. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Mortgage rates have remained over 5% for all but one week during the past year and even went as high as 7.08%, last reached in November. “The strong job market will continue to drive demand in the economy, fuel price increases and contribute to higher inflation,” Xu said. Strong labor market encourages some buyersEven as the average mortgage rate pushed toward 7%, reaching its highest level this year last week, mortgage applications still ticked up a bit, according to the Mortgage Bankers Association.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Jiayi Xu, ” Xu, Bob Broeksmit, Xu, “ Organizations: DC CNN, Mortgage, Association Locations: Washington

☆ US mortgage rates climb to their highest level since November
▼ + stars: | 2023-06-01 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington CNN —US mortgage rates jumped higher last week as uncertainty about the debt ceiling standoff sent bond yields rising. Mortgage rates tend to be pegged to US Treasury yields, which had been heading higher as America grows ever closer to default. Although the Fed doesn’t have direct control over mortgage rates, higher interest rates tend to push bond yields higher, which also can nudge mortgage rates up. “If the U.S. defaults on its debt, bond investments become riskier, resulting in increased yields and potentially higher mortgage rates. But if mortgage rates remain elevated, sellers looking to wrap up a move during the summer months may be motivated to cut prices.

Persons: Freddie Mac, ”, Sam Khater, Freddie Mac’s, Jiayi Xu, Joe Biden, Xu, “, George Ratiu, ” Ratiu, Bob Broeksmit, today’s, ” Xu Organizations: Washington CNN, Treasury, Federal, “, Realtor.com, Mortgage, Association Locations: America, U.S

☆ Is your job ruining your sleep? If so, this may be why
▼ + stars: | 2023-05-09 | by ( Sandee Lamotte | ) edition.cnn.com time to read: +6 min

Experiencing negative changes in workplace leadership and fairness was associated with the strongest long-term impact on a worker's sleep. LumiNola/E+/Getty ImagesSleep problems included initiating or maintaining sleep, poor-quality sleep and daytime tiredness two to four times a week that lasted one month to three months. Within a two-year period of time, over half of the participants (53%) reported changes in their workplace environment. However, if the changes at work were negative, sleep issues increased — in fact 1 in 4 people in the study with a worse job environment developed problems getting enough rest. Having negative changes in the leadership and fairness sector was associated with the greatest long-term impact on sleep, more than negative changes in coworker relationships or collaboration, the study found.

☆ Mortgage rates rise for the fifth-straight week
▼ + stars: | 2023-03-09 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates edged further toward 7%, rising for the fifth consecutive week, as the Federal Reserve suggests rate increases will continue amid stubborn inflation. “Mortgage rates continue their upward trajectory as the Federal Reserve signals a more aggressive stance on monetary policy,” said Sam Khater, Freddie Mac’s chief economist. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. Housing market chilledRising mortgage rates have put a damper on the spring selling season. While applications for a mortgage rose slightly last week after three weeks of declines, according to the Mortgage Bankers Association, activity is muted.

☆ Mortgage rates fall to levels last seen in September
▼ + stars: | 2023-01-19 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

“As inflation continues to moderate, mortgage rates declined again this week,” said Sam Khater, Freddie Mac’s chief economist. But mortgage rates dropped in November and December, following data that showed inflation may have finally reached its peak. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “While our 2023 forecast anticipates ongoing inflation causing upward pressure on rates, recent favorable data has helped to pull mortgage rates down,” said Xu.

☆ DoorDash to lay off 1,250 corporate employees
▼ + stars: | 2022-11-30 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +1 min

CNN —DoorDash on Wednesday said it will lay off about 1,250 corporate employees after growing its team too quickly during the pandemic, making it the latest tech company to cut staff in recent weeks. Like other tech companies, DoorDash experienced a pandemic boom as more consumers embraced online deliveries and shied away from stores and restaurants amid the health crisis. In his memo, Xu nodded to the shifting economic climate. “We too are not immune to the external challenges and growth has tapered vs our pandemic growth rates,” he wrote. Shares of DoorDash are down more than 60% so far this year.

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