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Search resuls for: "” Sam Khater"


4 mentions found


☆ Here’s why mortgage rates are rising after the Fed’s rate cut
  + stars: | 2024-10-24 | by ( Bryan Mena | ) edition.cnn.com   time to read: +7 min
Expectations of a Fed rate cut caused mortgage rates to drop to a two-year low of 6.08% in late September, but it failed to spur homebuying activity. Every percentage point on a mortgage rate makes a big difference for that monthly payment. Here’s what’s driving the recent upswing in mortgage rates. Mortgage rates track the 10-year US Treasury yield, which was expected to fall in anticipation of further rate cuts. “I am clearly not going to own any fixed income.”The government’s fiscal situation might already be having an impact on mortgage rates.
Persons: Freddie Mac, pare, what’s, ” Sam Khater, Freddie Mac’s, Robyn Beck, Donald Trump, Kamala Harris, Harris, “ We’re, Paul Tudor Jones, “, ” Lawrence Yun, Kimberly Bradley, Zach, Kimberly, “ I’ve, ” Kimberly, ” Ken Lowrey, Ken Lowrey, “ homeownership, ”, Lowrey Organizations: Washington CNN, Federal Reserve, National Association of Realtors, Mortgage, Association, Treasury, Getty, Federal Budget, Trump, CNBC, US Postal Service Locations: AFP, Manteo , North Carolina, Charleston , South Carolina
☆ Mortgage rates fall to lowest level since February 2023
  + stars: | 2024-09-12 | by ( Bryan Mena | ) edition.cnn.com   time to read: +3 min
Washington CNN —Mortgage rates fell this week to the lowest point since February 2023, in a welcome sign for Americans grappling with a tough housing market. The standard, 30-year fixed-rate mortgage averaged 6.20% in the week ended September 12, mortgage financing giant Freddie Mac said Thursday. Mortgage rates started to drop early last month on news affirming lower interest rates in the future, specifically after a weaker-than-expected jobs report for July, and have gradually edged lower since. “Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023,” Sam Khater, Freddie Mac’s chief economist, said in a release. The Fed doesn’t directly set mortgage rates, but its action do influence them through movements in bond yields.
Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, that’s, Lawrence Yun Organizations: Washington CNN —, “, Federal Reserve, Treasury, Las, P Global, Apple, Fed, National Association of Realtors Locations: New York City, San Diego, Las Vegas, America, Los Angeles, Miami
☆ Mortgage rates fall for the third straight week, dipping below 7%
  + stars: | 2024-05-23 | by ( Bryan Mena | ) edition.cnn.com   time to read: +5 min
Washington CNN —Mortgage rates declined for the third consecutive week in a shred of good news for Americans dealing with a still-tough housing market. Mortgage rates track the benchmark 10-year US Treasury yield, which moves in anticipation of the Federal Reserve’s decisions on interest rates. Stubbornly high inflation this year has dashed hopes that the Fed could cut interest rates in the spring or in the summer. Some Fed officials said earlier this week that they likely won’t raise interest rates again and a few have said they expect to cut rates this year. With mortgage rates still elevated, some homeowners are deciding to stay put.
Persons: Freddie Mac, inflation’s cooldown, there’s, homebuyers, ” Sam Khater, Freddie Mac’s, That’s, ” Lawrence Yun, ”, Yun, Joe Biden Organizations: Washington CNN —, Treasury, National Association of Realtors, Fed, Housing Locations: San Diego, Chicago, Detroit
☆ U.S. Mortgage Rates Jump Above 7% for the First Time This Year
  + stars: | 2024-04-18 | by ( J. Edward Moreno | More About J. Edward Moreno | ) www.nytimes.com   time to read: +1 min
Mortgage rates rose above 7 percent for the first time this year, crossing a symbolically concerning threshold that threatens to keep millions of potential home buyers and sellers on the sidelines of a U.S. housing market that is increasingly showing signs of slowing. Mortgage rates reached a recent high of nearly 8 percent late last year — a level not seen since 2000. As mortgage rates have risen in recent months, making homeownership costlier for buyers, potential sellers who may feel locked into lower rates on their existing loans have been keeping their houses off the market, in effect pushing prices higher, too. “Potential home buyers are deciding whether to buy before rates rise even more, or hold off in hopes of decreases later in the year,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “It remains unclear how many home buyers can withstand increasing rates in the future.”
Persons: Freddie Mac, ” Sam Khater, Freddie Mac’s, ” Locations: U.S, United States
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