Mortgage rates surpass 6 percent for the first time since 2008 – The Washington Post
Mortgage rates surpass 6 percent for the first time since 2008 The Washington Post
Mortgage rates surpass 6 percent for the first time since 2008 The Washington Post
The Department of Housing and Urban Development will cut the Federal Housing Administration’s mortgage insurance premium by 30 basis points, a move that many stakeholders think is long overdue. The cut drops premiums from 85 basis points to 55 basis points — reverting premiums to a level not seen since before the 2008 housing crisis. … [Read more…]
Mortgage rates start 2023 twice as high as they were a year ago CNN
“Unlike in the past, the likelihood of the industry benefiting from another refinance wave in the next few years appears remote,” said a team of mortgage analysts at KBW.
Positive economic indicators were enough for the 30-year fixed-rate mortgage to rise again to 6.32% as of Feb. 16, up 20 basis points compared to the previous week.
Homebuyers facing affordability challenges are turning to ARMs to reduce their monthly payments as mortgage rates have more than doubled.
With mortgage rates expected to climb even higher, lenders are cutting closing costs and launching new programs to court buyers.
Mortgage rates drop for fifth week in a row CNN
Mortgage rates fall to levels last seen in September CNN
The average 30-year fixed-rate mortgage rate decreased to 6.33% this week, down 16 basis points compared to the previous week, according to the latest Freddie Mac survey.