Freddie Mac’s weekly report covers mortgage rates from the previous week, but interest rates change daily – mortgage rates today may be different than reported. To find out what rates are currently available, compare quotes from multiple lenders .
Mortgage Rates Rise By Michael Neal on March 1, 2018 (). The Federal Housing Finance Agency (FHFA) reported that contract mortgage rates rose by four basis points to 4.05 percent in January 2018. After falling to 3.93 percent following its February 2017 peak of 4.18 percent, rates on purchases of newly built homes have risen 12 basis points over two months to 4.05 percent.
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Unlike the interest rate climate when we wrote the above, the more pronounced fall in first mortgage rates may change the equity-extraction equation a bit. At least some homeowners may be able to extract equity and lower the interest rate on their primary mortgage at the same time, so this combination should provide some lift for cash-out.
Looking back at the week, the biggest jump in rates came on Wednesday when the second-estimate for third quarter GDP came in above expectations. Financial market participants took that as a sign that a rate hike in December is a sure thing, and that more rate hikes in 2018 are a possibility.
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Mortgages Rates Rise in 2017 But Remain Low By Michael Neal on January 17, 2018 (). Information provided by the Federal Housing Financing Agency (FHFA) indicates that mortgage rates on purchases of newly built homes rose 7 basis points in November to 4.00 percent. At this level, rates remain below the 4.18 cycle peak level recorded in February.
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Mortgage rates rise (but historically low) 2. household composition increasingly diverse. Interest Rate on 30-Year fixed-rate mortgages (percent) Rates are still historically low. Home Prices: Expect U.S. Index Up 5% in 2017 Projected to Return to 2006 Peak by Yearend 2017
FHFA’s Index examined the rise and fall in average interest rates on different types of mortgage loans. Here’s what it revealed. theMReport.com Your trusted source for mortgage banking news
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