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Today's Mortgage Rates | April 18, 2022
MSN News ^ | 4/18/2022 | Leslie Cook

Posted on 04/18/2022 7:56:12 AM PDT by fireman15

After briefly falling below 6% last Friday, the average rate for a 30-year fixed-rate mortgage jumped up to 6.875%, increasing by more than one percentage point. The rate is nearly two percentage points higher than the average rate just one month ago.

Rates for most other loan categories increased as well, although not quite so dramatically. The average rate on a 15-year fixed-rate loan, however, moved lower.

The latest rate on a 30-year fixed-rate mortgage is 6.875%. ⇑ The latest rate on a 15-year fixed-rate mortgage is 5.143%. ⇓ The latest rate on a 5/1 ARM is 4.258%. ⇑ The latest rate on a 7/1 ARM is 4.414%. ⇑ The latest rate on a 10/1 ARM is 4.49%. ⇑

Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score — roughly the national average score — might pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate 8,000 lenders offered to applicants the previous business day. Freddie Mac’s weekly rates will generally be lower since they measure rates offered to borrowers with higher credit scores.

Today’s 30-year fixed-rate mortgage rates The 30-year rate is 6.875%. That’s a one-day increase of 1.021 percentage points. That’s a one-month increase of 1.988 percentage points.

(Excerpt) Read more at msn.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS: housing; housingmarket; interestrates; mortgage; realty; refinance
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Say goodbye to the housing market. Thanks Brandon!

Please note that these are the average rates real people getting are not the sugar-coated numbers that are being used to hide just how bad things are getting.

1 posted on 04/18/2022 7:56:12 AM PDT by fireman15
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To: fireman15

Finally, my 4.65% refi in 2010 makes me feel smart again.


2 posted on 04/18/2022 7:57:48 AM PDT by Vermont Lt
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To: fireman15

Wow, with mortgage rates pushing 7% now, this is going to cause jumps in your monthly payment, and related decline in how much people can afford. And this is at a time when housing costs are at an all time high.

Good luck to anyone in the housing market right now.


3 posted on 04/18/2022 7:59:31 AM PDT by Dilbert San Diego
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To: fireman15

No doubt about it. The housing market will now collapse.


4 posted on 04/18/2022 7:59:36 AM PDT by Obadiah ("America is facing a winter of illness and death." The summary of America under Biden.)
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To: fireman15

Argh. And we’re putting our house on the market in 6 weeks. Fortunately it’s one of the lower priced ones in the zip code so hopefully it will go quickly.

And the best part is our house in FL, where we’re moving, is already paid for :)


5 posted on 04/18/2022 8:01:27 AM PDT by VeniVidiVici (GoFundMe is a Democrat Scam)
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To: VeniVidiVici

Where are you moving from?

Good luck with the home sale!!


6 posted on 04/18/2022 8:02:33 AM PDT by Jane Long (What we were told was a “conspiracy theory” in 2020 is now fact. 🙏🏻 Ps 33:12)
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To: VeniVidiVici
And the best part is our house in FL, where we’re moving, is already paid for :)

You lucky dog!
7 posted on 04/18/2022 8:02:43 AM PDT by SoConPubbie (Mitt and Obama: They're the same poison, just a different potency)
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To: fireman15
There is volatility in the the debt market. Several weeks ago the yield curve was inverted. (short term interest rates higher than long term interest rates) That was the first time since 2006 that occurred. It is normal for longer term debt to be more risky than short term and thusly long term debt has higher interest rates. I wouldn't be surprise if the yield curve is inverted once again. Bottom line, short and long term interest rates are increasing, and will continue to increase. This will have little impact to curbing inflation unless the Fed stops quantitative easing and the government radically cuts spending.

Personally, I waiting for the argument for and against an "austerity program". Government austerity will cure many of our ills.

8 posted on 04/18/2022 8:13:27 AM PDT by ConservativeInPA (Scratch a leftist and you'll find a fascist )
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To: fireman15

“Say goodbye to the housing market. Thanks Brandon!”

And all the other things associated with it. Building supplies, construction jobs, mortgage loan, remodels...

And we could see a repeat of 2008 if a lot of people are in variable interest mortgages.

I can see a serious market crash coming.


9 posted on 04/18/2022 8:15:38 AM PDT by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: Jane Long

Frederick, MD. Thanks!


10 posted on 04/18/2022 8:17:28 AM PDT by VeniVidiVici (GoFundMe is a Democrat Scam)
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To: VeniVidiVici

Nice move :-)


11 posted on 04/18/2022 8:19:53 AM PDT by Jane Long (What we were told was a “conspiracy theory” in 2020 is now fact. 🙏🏻 Ps 33:12)
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To: ConservativeInPA

“That was the first time since 2006 that occurred”

Summer 2019


12 posted on 04/18/2022 8:26:34 AM PDT by TexasGator (UF)
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To: fireman15

Rate are high but I think the above quoted rates are too high for TODAY.

https://www.forbes.com/advisor/mortgages/mortgage-rates-04-18-22/


13 posted on 04/18/2022 8:31:13 AM PDT by House Atreides
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To: TexasGator
Summer 2019

You are correct. I looked it up when I wrote my post and kept reading other articles after I posted. Unfortunately, the first article stated 2006. My bad.

14 posted on 04/18/2022 8:33:14 AM PDT by ConservativeInPA (Scratch a leftist and you'll find a fascist )
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To: fireman15
Not sure where these #s come from. Average 30 year fixed is 5.15% today and 15 year is 4.45% and 5 year ARM is 4.0%.

Mortgage News Daily

15 posted on 04/18/2022 8:34:27 AM PDT by rb22982
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To: House Atreides

Yup - the #s in this article are simply incorrect. I’m seeing 4.875% with no points from a number of lenders today and MND is close to the #s Forbes has.


16 posted on 04/18/2022 8:36:42 AM PDT by rb22982
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To: House Atreides

Yes, I saw the Forbes article myself this morning. The numbers are based on different methodology. Forbes goes into no detail about how they determined their “average”. “Money’s daily mortgage rates reflect what a borrower with a 20% down payment and a 700 credit score — roughly the national average score — might pay if he or she applied for a home loan right now. Each day’s rates are based on the average rate 8,000 lenders offered to applicants the previous business day.”

Unfortunately, Money uses the more accurate methodology.


17 posted on 04/18/2022 8:37:53 AM PDT by fireman15 (Irritating people are the grit from which we fashion our pearl. I provide the grit. You're Welcome.)
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To: VeniVidiVici

We were fortunate. Got an offer we accepted on our house in Seattle 2 weeks ago. We locked on our loan for our new house in Florida yesterday. It was at 4.5% and I was not happy, but with the news today I am ecstatic. Where are you moving in Florida? We are buying a house in Ormond Beach.


18 posted on 04/18/2022 8:38:35 AM PDT by RainMan (Democrats ... making war against America since April 12, 1861)
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To: House Atreides

Actually showing 4.3% 30 year fixed with no points on a jumbo mortgage in my area with 25% down right now.


19 posted on 04/18/2022 8:38:59 AM PDT by rb22982
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To: House Atreides

Here is a chart of historical rates for 30 year.

https://www.macrotrends.net/assets/php/chart_iframe_comp.php?id=2604&url=30-year-fixed-mortgage-rate-chart

We are seeing that from the Trump era the cost of a mortgage payment (P&I onty) has gone up about 40% in a year and a half.


20 posted on 04/18/2022 8:43:57 AM PDT by KC Burke (If all the world is a stage, I would like to request my lighting be adjusted.)
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