Your subscription supports journalism that matters. The average rate for a 30-year fixed-rate mortgage rose to 4.61% this week from 4.55% last week, according to data released Thursday by mortgage-finance giant Freddie Mac. How U.S. China Will ‘Significantly’ Boost U.S. See here for a complete list of exchanges and delays. © 2018 Reuters. Gold tends to rise when investors worry about the economy.
For Sommerfeld's clients, the lack of inventory is a bigger problem than rising mortgage rates. It crossed the 3 percent threshold Monday and then had its biggest single-day jump since early March on Tuesday. The average rate for a 30-year fixed mortgage jumped to 4.61 percent, up from 4.55 percent last week and the highest since May 2011, Freddie Mac said in a statement Thursday. The Wall Street Journal U.S.
Freddie Mac Reuters Staff 2 Min Read NEW YORK (Reuters) - Interest rates on U.S. According to mortgage industry publication Mortgage News Daily , we’re likely to see a few bumps as bond traders try to cover their positions and minimize losses. CNNMoney’s Fear & Greed Index remains at 54 (out of a possible 100). However, the longer you lock, the higher your upfront costs. Interest rates and yields are not mysterious.
Mortgage rates hit seven-year high — and buyers just keep making offers By Bloomberg May 17, 2018 | 2:25 PM A sold sign in front of a home last month in Jackson, Miss. (Rogelio V. Kristin Wilson, a loan officer with Envoy Mortgage in Edina, Minn., tells customers to keep things in perspective. It ended the day at 3.09 percent Wednesday. Bidding wars aren’t uncommon. Edition U.S. The average rate for a 30-year fixed mortgage jumped to 4.61 percent, up from 4.55 percent last week and the highest since May 2011, Freddie Mac said in a statement Thursday.
Three days, 21 showings, eight offers... Solis / AP) U.S. home buyers, already contending with escalating prices, now are getting hit with the most expensive mortgage rates in seven years. Newsletter Weekly A look back, and ahead, at the latest California business news. The market composite index — a measure of total loan application volume — decreased 2.7 percent from a week earlier. Mary Sommerfeld, a Minneapolis-area realtor, said a family she works with offered $33,000 more than the $430,000 list price for a home in St.
She loves helping consumers understand complex and intimidating topics. The new average rate is the highest since May 19, 2011. Funny thing: It's only making them move faster. You are now following this newsletter. The refinance index fell 4 percent, while the purchase index dropped 2 percent. For Sommerfeld’s clients, the lack of inventory is a bigger problem than rising mortgage rates. Freddie Mac says a 30-year fixed-rate mortgage averaged 4.61 percent this week, matching the highest level since May 19, 2011.
Mortgage interest rates depend on a great deal on the expectations of investors. The information contained on The Mortgage Reports website is for informational purposes only and is not an advertisement for products offered by Full Beaker. By contrast, the 30-year rate averaged 4.02 percent a year ago. The average rate for a 30-year fixed mortgage jumped to 4.61%, up from 4.55% last week and the highest since May 2011, Freddie Mac said in a statement Thursday.
She covers the Washington metropolitan area housing market. Kristin Wilson, a loan officer with Envoy Mortgage in Edina, Minn., tells customers to keep things in perspective. A 15-year fixed rate mortgage averaged 4.08 percent this week, up from 4.01 percent last week. The listing agent gave her the bad news: There were nine offers and the family’s was second from the bottom. A week earlier, 30-year rates averaged 4.55 percent, the U.S. mortgage finance agency said.
The Fed will also weigh in, releasing notes from its meeting on Wednesday. Good economic news tends to be bad for interest rates because an active economy raises concerns about inflation. Lorraine L. We took a look using a $200,000 loan for 30 years as our basis and the Freddie Mac average rates for the first part of this year. And homes that sold last month went into contract after a median of 36 days on the market — a record speed in data going back to 2010, according to a new report by brokerage Redfin Corp.
There is no reason to believe that mortgage rates will change much today, barring something crazy happening in Washington, DC. The buyer gets the same $50 a year in interest that you were getting. Thank you for The Mortgage Reports. April — 4.47 percent: $1,009 Week of May 13 — 4.61 percent: $1,026 Since January, the hike amounts to a monthly difference of $68 a month or $816 a year. With a short supply of listings, the increased competition is only making their purchases harder to afford.
If you’re close to being able to grab a shorter lock (say, 15 days instead of 30), it’s probably safe to wait a couple of days. The buyer gets an interest rate, or yield, of only 4.2 percent. Michael J. Then we compared this week’s rate to 2017’s low of 3.81 percent in September. Home prices jumped 7.6% in April from a year earlier to a median of $302,200, and sellers got a record 98.8% of what they asked on average, Redfin said Thursday.
She also worked at the Cincinnati Post. Play a quick game of solitaire or Sudoku. Kristin Wilson, a loan officer with Envoy Mortgage in Edina, Minnesota, tells customers to keep things in perspective. ENzSFO Reporting by Richard Leong; Editing by Bernadette Baum and Chris Reese Our Standards: The Thomson Reuters Trust Principles. Gold prices fell $2 an ounce to $1,288, reversing yesterday’s $2 gain. (That is pretty neutral for mortgage rates.