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Mortgage Rates Tick Up

October 3, 2024 by Jim Emond

October 3, 2024
The decline in mortgage rates has stalled due to a mix of escalating geopolitical tensions and a rebound in short-term rates that indicate the market’s enthusiasm on rate cuts was premature. Zooming out to the bigger picture, mortgage rates have declined one and a half percentage points over the last 12 months, home price growth is slowing, inventory is increasing, and incomes continue to rise. As a result, the backdrop for homebuyers this fall is improving and should continue through the rest of the year.

Information provided by Freddie Mac.

Filed Under: Monthly Skinny Video

August Monthly Skinny Video

September 30, 2024 by Jim Emond

Filed Under: Monthly Skinny Video

The 30-Year Fixed-Rate Mortgage Reaches Lowest Level in Two Years

September 26, 2024 by Jim Emond

September 26, 2024
Although this week’s decline was slight, the 30-year fixed-rate mortgage trended down to its lowest level in two years. Given the downward trajectory of rates, refinance activity continues to pick up, creating opportunities for many homeowners to trim their monthly mortgage payment. Meanwhile, many looking to purchase a home are playing the waiting game to see if rates decrease further as additional economic data is released over the next several weeks.

Information provided by Freddie Mac.

Filed Under: Monthly Skinny Video

Mortgage Rates Continue to Tumble

September 19, 2024 by Jim Emond

September 19, 2024

Mortgage rates continued declining towards the six percent mark, reviving purchase and refinance demand for many consumers. While mortgage rates do not directly follow moves by the Federal Reserve, this first cut in over four years will have an impact on the housing market. Declining mortgage rates over the last several weeks indicate this cut was mostly baked in, but rates will likely fall further, sparking more housing activity.

Information provided by Freddie Mac.

Filed Under: Monthly Skinny Video

Mortgage Rates Drop to their Lowest Level Since February 2023

September 12, 2024 by Jim Emond

September 12, 2024
Mortgage rates have fallen more than half a percent over the last six weeks and are at their lowest level since February 2023. Rates continue to soften due to incoming economic data that is more sedate. But despite the improving mortgage rate environment, prospective buyers remain on the sidelines, as they negotiate a combination of high house prices and persistent supply shortages.

Information provided by Freddie Mac.

Filed Under: Monthly Skinny Video

Mortgage Rates Remained Flat This Week

September 5, 2024 by Jim Emond

September 5, 2024
Mortgage rates remained flat this week as markets await the release of the highly anticipated August jobs report. Even though rates have come down over the summer, home sales have been lackluster. On the refinance side however, homeowners who bought in recent years are taking advantage of declining mortgage rates in order to lower their monthly payments.

Information provided by Freddie Mac.

Filed Under: Monthly Skinny Video

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