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Homebuyers are feeling whiplashed by surging mortgage rates, and the outlook just turned grim. The average rate on the 30-year mortgage increased to 7.37% on Thursday, a steep climb from 7.11% at the beginning of the week, according to Mortgage News Daily. The quarter-point increase comes as rattled investors respond to a hotter-than-expected inflation reading. At the same time, a separate measure tracking weekly average rates rose to 6.88%, up from 6.82% the week prior, Freddie Mac found. Elevated rates have left would-be buyers in a pinch, causing both repeat and first-time buyers to step away from any purchase plans....

Dear Big Move, I’m struggling with the idea of selling a rental property that has both a high monthly maintenance fee and a high mortgage rate. The costs to keep this house are currently higher than the monthly income it generates. I recently refinanced in order to pull out $100,000, so now I owe $420,000 on the property, which is worth approximately $750,000. My recent refinancing increased my mortgage rate from 5.14% to 7.9%, essentially eating up all my cash flow. I’m on the fence. Should I sell, or should I refinance for a better rate to free up cash...

Despite The Federal Reserve removing some of the monetary punch bowl, Bankrate’s 30-year mortgage rate declined to 6.77% yesterday. Catch a rising yield and put it your pocket. European sovereign yield are up over 10 basis points today. On this side of the pond, The Federal Reserve has begun their experiment with big banks using digital currency. This is a step towards going to a cashless economy. Why is this terrifying? Blockchain technology is a fantastic innovation for processing payments given its ledger capabiliities. But that means that The Federal Reserve might be able to look at your complete history...

Biden’s magic trick was to turn the economy into a train wreck. Example? The 30-year mortgage rate was 2.88% on Biden’s inauguration day (January 20, 2021). They are now 7.32%, a 154% increase under Biden. ... The US economy is suffering from knucklehead energy policies, reckless Federal spending and rampant inflation. Joe Biden doing economic magic tricks, turning a vibrant economy into an inflation-ravaged one.

(Reuters) - The average interest rate on the most popular U.S. home loan rose to its highest level since 2001 as tightening financial conditions weigh on the housing sector, data from the Mortgage Bankers Association (MBA) showed on Wednesday.

The Freddie Mac 30-year mortgage rate is rising faster than a SpaceX moonshot! I’m telling your now that The Fed is killing the dreams of millions of Americans by pricing them out of the housing market. Home price growth is lethal as is the increase in mortgage rates. Do The Feddy!

US existing home sales fell -7.24% from January as mortgage rates soar. On a YoY basis, existing home sales declined by -2.43%. The median price of existing home sales “slowed” to 15% YoY in February as inventory picked-up slightly. And yes, Fed Stimulypto is still around and hasn’t helped increase inventory for sale. As I said earlier, we are seeing the Treasury yield curve plunging towards recession.

Bankrate’s 30-year mortgage rate rose to 4.43%, up 55% under Biden/Pelosi/Schumer’s reign of error. Thanks to the rising Fed rate hikes priced-in the market.

The Freddie Mac 30-year mortgage commitment rate rose to 3.12%. But once we subtract the gut-wrenching inflation rate, the REAL 30-year mortgage rate is -3.689%. The nominal Freddie Mac 30-year commitment rate rose to 3.12% which is still lower than 3.18% back on April 1, 2021 after surge in rates following Biden’s taking the office of Presidency in January. Meanwhile, the REAL Case-Shiller National home price index (CS National YoY – CPI YoY) is growing at the fastest rate in history. Great if you already own a home, but lethal if you are renting and want to move to homeownership....

A recent report in the Wall Street Journal that cited data from the National Association of Realtors and Fannie Mae caught our eye by highlighting an unfortunate reality of low interest rates: while they initially help even the playing field and make homes more affordable for more Americans, after a while, price appreciation will ultimately make housing less accessible for middle- and working-class Americans.Using data combined with anecdotes from home buyers, WSJ illustrated how the rapid pace of price appreciation over the last year is affecting the outlook for the housing market, as high prices negate the impact of mortgage...

WASHINGTON (AP) -- What Fed rate hike? One week after the Federal Reserve raised short-term interest rates from record lows, the average on a 30-year fixed-rate mortgage went the other way: It dipped to 3.96 percent from 3.97 percent last week, mortgage giant Freddie Mac says. The drop is a reminder that the Fed has only an indirect influence on long-term mortgage rates, which more closely track the yield on the 10-year U.S. Treasury note. And that rate, in turn, tends to stay down as long as inflation remains low and investors keep buying Treasurys. The 10-year Treasury yield has...

The US has experienced a phenomenal run (bull market( in Treasury and mortgage rates from September 1981. (US 10 year Treasury yield in white, The Fed Funds Target rate in red). t10fedfunds We can examine mortgage purchases applications (courtesy of the Mortgage Bankers Association) in distinct regimes over the bond bull market. The first regime is 1990-2008 where mortgages rates are generally falling and mortgage purchase applications are rising. mbpurchmb30pre2008 The second regime is 2008-2013 where house prices collapsed in many parts of the US, despite continually falling mortgage rates. In this regime, mortgage purchase applications fell (on average) with...

The economic news, particularly surrounding Thursday’s jobless claims numbers and Friday’s job report, wreaked havoc on the Treasury 10 year yield. Despite that 10 basis point rise on Thursday and the 10 basis point drop on Friday, we are almost back to where we started at Wednesday close. ust10080213a Since May 1st, the US Treasury 10 year yield has risen almost 100 basis points. yc51080213 And the Bankrate 30 year fixed average (yellow) has risen as well by 106 basis points. br10080213 The spread between the Bankrate 30 FRM and the 10 year Treasury yield is now 181 basis points,...

Average rates on U.S. fixed mortgages ticked up this week but are still low by historical standards, a trend that has helped the housing market recover. Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan rose to 4.39 percent from 4.31 percent last week. Rates are a full percentage point higher than in early May. The average on the 15-year fixed loan increased to 3.43 percent from 3.39 percent last week...

(Reuters) - Contracts to purchase previously owned U.S. homes fell in June, retreating from a more than six-year high touched the prior month, suggesting rising mortgage rates were starting to dampen home sales. The National Association of Realtors said on Monday its Pending Homes Sales Index, based on contracts signed last month, decreased 0.4 percent to 110.9. May's index was revised down to 111.3 from a previously reported 112.3.

According to Bankrate, the average 30 year mortgage rate is 3.72%. But when we consider that headline inflation is 1.6%, that translates to a REAL mortgage rate of 2.12%. If you think that the inflation is actually higher, then subtract your estimate of inflation from the nominal mortgage rate of 3.72%.* Since headline inflation is 1.6%, that indicates that Treasury rates with maturities of less than ten years are earning investors (like The Fed) a NEGATIVE real rate of interest. Back to housing and mortgages. With a real mortgage rate of 2.12% for 30 year fixed, the affordability of housing...

Soft landing or crash? S&P sees gradual unwinding of housing bubble By John Spence, MarketWatch Last Update: 2:11 PM ET Sept. 19, 2005 BOSTON (MarketWatch) -- The popping of the red-hot U.S. housing market will likely play out as a steady deceleration of prices followed by stabilization, rather than a dramatic national downturn, Standard & Poor's said Monday. "The bubble should end with a fizzle, not a bang," said S&P Chief Economist David Wyss in a conference call Monday, adding that it's difficult to nail down exactly when the market might weaken, and what the implications might be for the...