With mortgage rates dropping, the conforming and jumbo loan spread narrows
Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage at 6.42% as of March 23, down 18 basis points from the previous week.
Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage at 6.42% as of March 23, down 18 basis points from the previous week.
Mortgage rates, which climbed one day and dropped the next after the bank failures, will be volatile before stabilizing, experts say.
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Higher mortgage rates have zapped mortgage demand to a 28-year-low, as buyers are now having second thoughts about purchasing homes.Â
The industry is on a roller coaster ride after mortgage rates shot up close to 7% following a drop to the low 6%-levels on the back of a resilient economy.Â
Gathering of Eagles is the must-attend event of 2023 for real estate presidents, senior leaders, and broker-owners.
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.
Gathering of Eagles is the must-attend event of 2023 for real estate presidents, senior leaders, and broker-owners.
The latest Freddie Mac index measured the 30-year fixed mortgage rate at 6.09% on Thursday, down four basis points from the previous week.