Mortgage rates have three options: rise, drop or remain the same. After a few weeks of inching upward/remaining unchanged, rates took a dive this week – not just any dive, either.
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Congress passed a bill to raise the U.S. debt ceiling and end the partial government shutdown. While President Obama signed the short-term bill early Thursday morning, the deal will have to be revisited three months from now.
Mortgage rates can only drop so much before they begin to rise. Last week, fixed mortgage rates inched upward according to the Primary Mortgage Market Survey for the first time since the beginning of the month. That trend continued this week as rates again rose slightly.
While the weather can flip flop daily during the fall, mortgage rates can sometimes do the same. However, this wasn’t one of those weeks. In fact, there was barely even a change in mortgage rates.
It’s been a long time since rates have been this low. In fact, the last time 30-year fixed-rate mortgages were this low, the MLB season wasn’t even halfway over. To be exact, the last time 30-year fixed rates were this low was the week ending June 20, 2013.
The Fed holding off on tapering is doing wonders for the mortgage rate market! Read this week’s Primary Mortgage Market Survey to see how far the rates have fallen in two weeks.
The Fed’s announced they will not taper bond purchases yesterday, and mortgage rates fell quickly. The Primary Mortgage Market Survey shows how much they fell.
After weeks of ups and downs, the primary mortgage market survey shows us that rates have leveled out this week leaving those looking to purchase or refinance a small window of opportunity. Read all about it in this week’s PMMS report.
Rates have risen across the board, with the 30- and 15-year fixed rates roughly where they were two weeks ago. This is unfortunate for first time home buyers or those looking to refinance, but a good indicator for the U.S. economy and the fortune-telling future of line graphs. But because rates have risen, mortgage rate wolf has disappeared. Will he return? No one knows, but we’ll discuss the raw numbers from Freddie Mac anyways.
Amid Fed taper confusion, rates have dipped slightly this week, but the primary mortgage market survey comes with a sign. What does it all mean? Read on to find out!