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☆ Mortgage rates climb to the highest level in a month
▼ + stars: | 2023-04-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Mortgage rates rose this week, after five weeks of falling. “For the first time in over a month, mortgage rates moved up due to shifting market expectations,” said Sam Khater, Freddie Mac’s chief economist. 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. “Last week’s jump in mortgage rates led to a pullback in mortgage applications, as homebuyers remain sensitive to rate movements,” said Bob Broeksmit, CEO of the Mortgage Bankers Association.

☆ 5.5% may be a magic number for mortgage rates
▼ + stars: | 2023-04-20 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Mortgage rates more than doubled over the past year, reaching as high as 7.08% in November, according to Freddie Mac’s average weekly mortgage rate for a 30-year fixed rate loan. The survey found that 5.5% mortgage rates seem to be the tipping point. A majority of respondents — 71% — said they are not willing to accept a mortgage rate above 5.5%. Looking at forecasts of mortgage rates for the rest of the second quarter of 2023, no major forecast is even predicting rates under 6%. Furthermore, 5.5% is lower than the historical average for mortgage rates.

☆ Mortgage rates fall for the fourth week in a row
▼ + stars: | 2023-04-06 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Homebuyers benefited from another week of falling mortgage rates, with the average rate dropping for the fourth week in a row, according to data from Freddie Mac released Thursday. The 30-year fixed-rate mortgage averaged 6.28% in the week ending April 6, down from 6.32% the week before. “Mortgage rates continue to trend down entering the traditional spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist. Mortgage rates tend to move with the 10-year Treasury yield, which ticked up this week, but the spread between the two narrowed as mortgage rates moved down and the market continued to navigate ongoing economic uncertainty.”“Potential buyers continue to face elevated mortgage rates and home prices, making buying less accessible than a year ago,” said Jones. Pent-up housing demand is evident with every gain in affordability, whether it be softening prices or lower mortgage rates.”

☆ Mortgage rates fall for the third week in a row
▼ + stars: | 2023-03-30 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Homebuyers saw another week of falling mortgage rates, with the average rate dropping last week for the third week in a row, according to data from Freddie Mac released Thursday. “Economic uncertainty continues to bring mortgage rates down,” 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. “Pent-up housing demand is evident with every gain in affordability, whether it be softening prices or lower mortgage rates,” said Jones. “The mortgage market has seen a partial revival in March, with the recent decline in mortgage rates boosting borrower demand,” said Bob Broeksmit CEO of the Mortgage Bankers Association.

☆ Mortgage rates fall for a second week
▼ + stars: | 2023-03-23 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates dropped again this week for the second week in a row amid lingering concerns about bank failures and uncertainty in the financial markets. 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. “Each downward tick in mortgage rates is met with increased buyer demand, as many eager home shoppers take advantage of the slightly lower cost of financing a home,” she said. “At the current price and mortgage rate level, the typical housing payment on a median-priced home is 43% higher than one year ago,” said Jones.

☆ Mortgage rates plunge in wake of bank failures
▼ + stars: | 2023-03-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates dropped this week in the wake of several bank failures, reversing course after rising half a percentage point over the past month. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The events of the past week, ranging from strong economic indicators to unforeseen events in banking, sent mortgage rates down. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “This year, both prices and mortgage rates are higher than a year ago, resulting in a 50% increase in housing costs for the typical US home.

☆ 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 rise for the fourth week in a row
▼ + stars: | 2023-03-02 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates shot up for the fourth consecutive week, as inflation concerns remain. “However, given sustained economic growth and continued inflation, mortgage rates boomeranged and are inching up toward 7%.”The lower rates in January brought buyers back into the market, Khater said. 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. “The recent jump in mortgage rates has led to a retreat in purchase applications, with activity down for three straight weeks,” said Bob Broeksmit, MBA’s CEO.

☆ US mortgage rates rise for the third week in a row
▼ + stars: | 2023-02-23 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington CNN —Mortgage rates shot up for the third-straight week, as inflation concerns make rates more volatile. The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Inflation concerns remainThe mortgage rate for a 30-year, fixed-rate loan continued to climb as the 10-year Treasury yield has surged. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “This decline may be due to a combination of multiple factors such as high housing prices, high mortgage rates, and the recent wave of tech layoffs on the West Coast,” said Xu.

☆ Inflation pushes up mortgage rates for second week in a row
▼ + stars: | 2023-02-16 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates climbed higher for the second consecutive week, following four weeks of declines. After climbing for most of 2022, mortgage rates had been trending downward since November, as various economic indicators indicated inflation may have peaked. Inflation is keeping mortgage rates volatile, 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. Last week, applications fell 7.7% from one week earlier, according to the Mortgage Bankers Association.

☆ Mortgage rates fall for fourth week in a row
▼ + stars: | 2023-02-02 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Washington, DC CNN —Mortgage rates fell slightly this week, as a smaller rate hike by the Federal Reserve signaled promising improvement on inflation. Mortgage rates have not been this low since September and are now nearly a full point below last year’s peak of 7.08%, last reached in early November. When Treasury yields go up, so do mortgage rates; when they go down, mortgage rates tend to follow. “The Federal Reserve controls short-term rates, but long-term rates, including 30-year mortgage rates, are a function of market expectations for the path of the economy,” said Mike Fratantoni, senior vice president and chief economist at the Mortgage Bankers Association. Even with lower rates in recent weeks, mortgage applications dropped 9% last week from the week before, according to MBA.

☆ Mortgage rates tick down ahead of Fed meeting next week
▼ + stars: | 2023-01-26 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates fell slightly this week, staying almost flat ahead of the Federal Reserve’s closely watched interest rate-setting meeting next week. 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. Mortgage applications riseThe downward trend for mortgage rates since November has had a positive impact on home affordability for mortgage borrowers. “Borrower demand, thanks to lower mortgage rates, continues to rise in early 2023,” said Bob Broeksmit, MBA president and CEO.

☆ 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.

☆ Mortgage rates inched down last week, after a slight increase the week before
▼ + stars: | 2023-01-12 | by ( Anna Bahney | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —Mortgage rates inched down last week, after a slight increase the week before. The 30-year fixed-rate mortgage averaged 6.33% in the week ending January 12, down from 6.48% the week before, according to Freddie Mac. 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.

☆ Premarket stocks: These three big unknowns will drive markets in 2023
▼ + stars: | 2023-01-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

And there are three big “ifs” that will determine the health of the economy: The strength of the labor market, the American consumer and the Federal Reserve. Will the labor market cool off? This is all happening as the Fed tries to actively cool the labor market. Policymakers fear that persistent wage growth in a tight labor market will keep already sky-high inflation levels elevated. Mortgage rates continue to soarMortgage rates rose again last week, beginning 2023 twice as high as they were a year ago.

☆ Mortgage rates start 2023 twice as high as they were a year ago
▼ + stars: | 2023-01-05 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates inched up again last week, after a slight increase the week before interrupted six straight weeks of falling rates. But mortgage rates dropped in November and December, following data that showed inflation may have finally reached its peak. “Mortgage application activity sunk to a quarter-century low this week as high mortgage rates continue to weaken the housing market,” said Sam Khater, Freddie Mac’s chief economist. “While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.”The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. Although mortgage rates did increase slightly in recent weeks, the association expects them to fall to around 5.2 percent by the end of 2023.

CNN —Mortgage rates rose this week, their first increase after falling for six consecutive weeks, according to the latest data from Freddie Mac. The 30-year fixed-rate mortgage averaged 6.42% in the week ending December 29, up from 6.27% the week before and capping a rollercoaster year for homebuyers that saw mortgage rates more than double in less than 12 months. “The housing market remains in the doldrums with declining sales, inventory and prices,” said Sam Khater, Freddie Mac’s chief economist. Mortgage rates rose throughout most of 2022 amid the Federal Reserve’s unprecedented campaign of harsh interest rate hikes aimed at taming soaring inflation. But mortgage rates have tumbled in the last several weeks, following various data points that showed inflation may have finally reached its peak.

☆ Premarket stocks: The Grinch comes for retailers
▼ + stars: | 2022-12-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

What’s happening: US retail sales, which measure the total amount of money that stores make from selling goods to customers, fell 0.6% in November, the weakest performance in nearly a year. The Fed factor: November’s report could indicate that consumers are feeling the double-punch of sky-high inflation and painful interest rate hikes from the central bank. This retail sales data adds to recessionary concerns, as it suggests that consumers may be becoming more cautious with their spending. Those increases were spurred by the Federal Reserve’s unprecedented campaign of harsh interest rate hikes to tame soaring inflation. The Fed announced on Wednesday that it will continue to raise interest rates — albeit by a smaller amount than it has been.

☆ Mortgage rates drop for fifth week in a row
▼ + stars: | 2022-12-15 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

Washington, DC CNN —Mortgage rates fell once again this week, dipping for the fifth straight week. But mortgage rates have tumbled in the last several weeks, following data that showed inflation may have finally reached its peak. The rate hike was already factored in to where mortgage rates are, but signaled more good news on inflation. Mortgage rates tend to track the yield on 10-year US Treasury bonds. Mortgage applications tick upFor people looking to buy a home, and homeowners wanting to sell, the retreat in mortgage rates over the past several weeks has been welcome.

☆ Premarket: Oil stocks are pointing to higher gas prices to come
▼ + stars: | 2022-12-09 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN —Brutally high oil and gas prices were the talk of the town in 2022 and one of the largest contributing factors to sky-high inflation. Oil prices and energy stocks are closely interlinked — so this discrepancy is an odd one and could mean that lower gas prices may not be here to stay. What’s happening: The price of West Texas Intermediate crude oil, the US benchmark, which is a large driver of gas prices, has fallen to its lowest level of the year this week — under $72 a barrel. But even though gas prices are falling, they’re still higher than they have been over the past few years. Exxon and Chevron are also speculating that crude prices will remain elevated and that demand will grow.

☆ Mortgage rates fall for the third week in a row as inflation fears ease
▼ + stars: | 2022-12-01 | by ( Anna Bahney | ) edition.cnn.com time to read: +5 min

CNN —Mortgage rates dipped again this week, marking the third straight week of falling rates. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation. But in the last couple of weeks, mortgage rates have tumbled following reports that indicated 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. Taken together with yesterday’s news from Powell, US Treasury yields fell, suggesting mortgage rates are likely to go in the same direction.

☆ Mortgage rates fall for the second week in a row
▼ + stars: | 2022-11-23 | by ( Anna Bahney | ) edition.cnn.com time to read: +4 min

Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation. But last week, rates tumbled amid reports that indicated 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. As a result of the drop in mortgage rates, both purchase and refinance applications picked up slightly last week.

☆ Premarket stocks: Fed officials crushed investors' hopes this week
▼ + stars: | 2022-11-18 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But messaging from Fed officials this week has brought Wall Street back down to earth. Tech layoffs don’t mean impending recessionA series of high-profile layoffs have rattled Big Tech this month. The series of high-profile layoff announcements prompted fears that the labor market was weakening and that a recession could be around the corner. Those fears aren’t unwarranted: The Federal Reserve is actively working to slow economic growth and tighten financial conditions to rebalance the white-hot labor market. “The main problem in the labor market is still that labor demand is too strong, not too weak,” they concluded.

☆ Mortgage rates plunge to 6.61% amid signs of easing inflation
▼ + stars: | 2022-11-17 | by ( Anna Bahney | ) edition.cnn.com time to read: +6 min

Mortgage rates dropped sharply last week following a series of economic reports that indicated inflation may finally be easing. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s unprecedented campaign of hiking interest rates in order to tame soaring inflation. While the Fed does not set the interest rates borrowers pay on mortgages directly, its actions influence them. Mortgage rates tend to track the yield on 10-year US Treasury bonds. Mortgage rates are expected to remain volatile for the rest of the year.

☆ Premarket stocks: Wall Street picks hope over reality after inflation report
▼ + stars: | 2022-11-11 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

New York CNN Business —Stocks surged on Thursday in their best day since 2020 after a key inflation indicator came in softer than expected. Investors broke out their party hats as they interpreted the report to mean that peak inflation may finally be behind us. Crypto-advocates were hoping that rising interest and inflation rates would drive investors away from the dollar and into alternative assets like gold and Bitcoin. Then, central banks started raising rates to fight inflation, and the dollar strengthened significantly, seducing investors as the ultimate safe haven. Mortgage rates have risen throughout most of 2022, spurred by the Federal Reserve’s regime of interest rate hikes.

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