mortgage rate

Mortgage rates are on a steady decline as investors have cemented expectations for upcoming reductions in the federal funds rate, yet mortgage demand continues to depict challenges among homebuyers. The Mortgage Bankers Association has reported Wednesday that the average contract interest rate for...

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $726,200 or less witnessed a further increase recently, reaching 7.06% for the week ending Feb. 16, 2024. It marks the highest point observed since early December, as reported by the Mortgage...

U.S. 30-year Treasury yields fell below the 4% mark on Wednesday, reaching their lowest level since late July. The decline in long-dated Treasury yields has sparked a remarkable surge in fixed income and real estate assets recently, as market participants increasingly bet on the Federal Reserve...

Construction could be a major tailwind to economic growth in 2024 if homebuilding keeps pace with the rate at which it grew in November and demand for new homes remains robust. Housing starts surged by 14.8% to 1,560,000 in November, well above consensus expectations of 1,360,000, with an 18% surge...

The latest data from the Mortgage Bankers Association (MBA) revealed a significant uptick in U.S. mortgage applications, marking a 3% increase from the previous week and the sharpest weekly rise in two months. The surge came during a decrease in the average contract interest rate for 30-year fixed-...