Mortgage rates barely moved this week after marching higher for the past month and a half, while purchase demand remains stalled in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.78% from…

The Federal Reserve just cut interest rates for the second time this year, a move that was largely expected as inflation continues to drop. The Fed lowered rates by a quarter of a percentage point to 4.5% to 4.75%. The decision came on the heels of the lowest rise in…

Mortgage rates marched higher for the sixth straight week while purchase demand continues to decline in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.79% from last week’s reading of 6.72%. The average…

Mortgage rates continued their upward climb this week, leaving demand essentially flat in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.72% from last week’s reading of 6.54%. The average rate on a…

Mortgage rates continued their upward trajectory this week, climbing for a month straight while further pushing down demand in the stalled housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.54% from last week’s reading of…

Americans saw mortgage rates soar during the Federal Reserve’s aggressive campaign to fight inflation, leading many to hope for a reprieve after the central bank finally cut the federal funds rate last month for the first time in four years. But instead of declining, mortgage rates have marched higher for…

Mortgage rates continued their upward climb this week, further hindering demand in the housing market amid elevated rates and high home prices. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.44% from last week’s reading of 6.32%.…

Mortgage rates jumped markedly this week, sending demand down for a second straight week. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.32% from last week’s reading of 6.12%. The average rate on a 30-year loan was…

The Consumer Price Index (CPI), the main measure of inflation, increased 0.2% in September, a similar increase consumers saw in August and July, the Bureau of Labor Statistics reported. Over the last 12 months, the index increased 2.4%, the lowest yearly increase since February 2021. A rise in food and…

Washington D.C., Denver and Raleigh, North Carolina, are the real estate markets that are projected to see the most substantial changes as the Federal Reserve begins to lower borrowing rates.  According to a new Realtor.com report published Tuesday, markets with a high percentage of homeowners with a mortgage stand to…