Mortgage rates inch closer to 7% to close out 2024
Mortgage rates are climbing again, in yet another unwelcome sign to homebuyers. The standard, 30-year fixed-rate mortgage averaged just shy of 7% in the final week of 2024 ending on January 2, according to data from mortgage financing giant Freddie Mac.
Mortgage Rates Tick Up, Nearing 6-Month High
After dipping for two days, 30-year mortgage rates edged higher, again nearing their highest level since early July. Rate movement was mixed for other loan types.
US Mortgage Rates Rise to Highest Since Early July, Suppressing Demand
US mortgage rates climbed to an almost six-month high during the Christmas holiday week, suppressing applications for home purchases and severely undercutting refinancing activity.
Average rate on a 30-year U.S. mortgage hits 6.91%, according to Freddie Mac, the highest since July
The average rate on a 15-year fixed-rate mortgage, popular with homeowners seeking to refinance, climbed to 6.13%, up from 6% and also the highest since July. It was at 5.89% a year ago.
Mortgage rates start 2025 near 7%, hitting highest level since July
Demand for mortgages in the final week of 2024 fell sharply, a combination of holiday market slowness and rates near 7%, according to the Mortgage Bankers Association.
Mortgage Rates Reach Highest Point Since July
Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months,” said Sam Khater, Freddie Mac’s Chief Economist. “Compared to this time last year, rates are elevated and the market’s affordability headwinds persist.
Mortgage rates kick off 2025 with an increase, nearing 7%
Mortgage rates climbed again for a third consecutive week to the since since July, with the 30-year fixed-rate average rising to just under 7% as the housing market remains stalled.
Mortgage rates touch highest levels in almost six months
Mortgage rates touched their highest point since July, while the market's affordability headwinds continued to persist, the ...
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Signed contracts for existing homes increased 2.2% last month from October, in the fourth straight month of gains, the ...
30-Year Mortgage Rates March Downward for a Second Day
After surging to their highest level in nearly six months last week, 30-year mortgage rates declined. Most other loan types ...
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Mortgage rates approach 7% in ominous sign for housing market
The average interest rate on a 30-year mortgage rose to 6.91% as of Thursday, up from 6.85% a week earlier, according to ...
The Fed Is Cutting - Why Are Mortgage Rates Going Up?
Powell is admitting that inflation is still too high, but the Fed still plans to cut interest rates by .25%. So why are ...
Why mortgage rates remain so high—and what to expect in 2025
Mortgage costs stayed stubbornly high in 2024, with 30-year fixed rates holding well above 6% for most of the year.
Mortgage rates slashed by major lenders kicking off 'mini New Year rates war'
Leeds Building Society and Halifax have announced mortgage rate cuts on several of its products and experts believe more ...