30-Year Mortgage Rates Tick Up for 1st Time in Over a Week

30-Year Mortgage Rates Tick Up for the First Time in Over a Week
After falling for four days and then holding at that level for another day, rates on 30-year mortgages added points Thursday, as did most other loan types.
Weekly Mortgage Rates Drop as Home Sales Stall
The average rate on the 30-year fixed-rate mortgage fell 12 basis points to 6.94% in the week ending Jan. 23, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point. The previous week had been the first time that the 30-year rate had inched above 7% since May.
Four major mortgage lenders all increase rates at the same time: Here's why more may follow...
Major banks have begun increasing mortgage rates in earnest in response to the renewed uncertainty surrounding interest rates.
Mortgage rates climb above 7% to highest level since May
Mortgage rates topped 7% this week, a key psychological threshold, in a sign of the US housing market’s unrelenting affordability challenges.
Average rate on 30-year mortgage slips below 7% after climbing five weeks in a row
The average rate on a 30-year mortgage in the U.S. eased this week to just below 7%, its first decline after climbing five weeks in a row. The rate fell to 6.96% from 7.04% last week, mortgage buyer Freddie Mac said Thursday.
The 30-year mortgage rate is back below 7%. How does this affect your purchasing power?
Economic and monetary policy uncertainty and inflationary concerns will likely keep mortgage rates elevated for the near future.”
30-year mortgage rates dip below 7% this week
Since its inception in 1970, Freddie Mac (OTC:FMCC) has played a pivotal role in helping millions of families to buy, rent, or maintain their homes. This week's survey results provide a glimpse into the current state of mortgage rates and their impact on the housing market.
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