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Instant Reaction: Mortgage Rates, April 25, 2024
Instant Reaction: Mortgage Rates, April 25, 2024
Mortgage interest rates for the week sit at an average of 7.17%, and may show little dramatic downward movement any time soon.
March 2024 Existing-Home Sales Pace Sluggish
March 2024 Existing-Home Sales Pace Sluggish
Housing market activity declined 4.3% in March 2024, reaching a 4.19 million seasonally adjusted annual rate, down 3.7% from March 2023.
Housing Affordability Weakened in February 2024
Housing Affordability Weakened in February 2024
Housing affordability fell nationally in February 2024, the monthly mortgage payment decreased 3%, and the median single-family home price fell 1.5%.
Instant Reaction: Mortgage Rates, April 18, 2024
Instant Reaction: Mortgage Rates, April 18, 2024
Mortgage interest rates rose to 7.1% this week; despite higher mortgage rates, mortgage applications increased.
Instant Reaction: Mortgage Rates, April 11, 2024
Instant Reaction: Mortgage Rates, April 11, 2024
Yesterday's inflation figures rose to 3.5%, and as a result, mortgage interest rates are likely to increase in the coming weeks.
Instant Reaction: CPI, April 10, 2024
Instant Reaction: CPI, April 10, 2024
March inflation figures were very bad, which also means bad news for interest rates.
Instant Reaction: Jobs, April 5, 2024
Instant Reaction: Jobs, April 5, 2024
The job market is strong, with 303,000 net payroll job additions in March; 39,000 net new jobs in construction means more housing supply is coming.
Instant Reaction: Mortgage Rates, April 4, 2024
Instant Reaction: Mortgage Rates, April 4, 2024
Mortgage interest rates continue their now 17-week stay in the mid-6% range, with the current 30-year mortgage interest rate at 6.82%.
Pending Sales in February 2024 Increase from January
Pending Sales in February 2024 Increase from January
In February 2024, pending home sales rose 1.6% month over month and decreased 7% year over year.
Instant Reaction: Mortgage Rates, March 28, 2024
Instant Reaction: Mortgage Rates, March 28, 2024
Mortgage interest rates have continued in the mid-6% range for 16 weeks, with the 30-year fixed rate down slightly to 6.79% from 6.8% the week prior.