_30-year-fixed-mortgage-rates-reach-highest-level-since-november-at-7-5.jpg "30-Year Fixed Mortgage Rates Reach Highest Level Since November at 7.5% from brain test level 48 Video Screenshot Preview")
GalleryPlay Video:
(Note: The default playback of the video is HD VERSION. If your browser is buffering the video slowly, please play the REGULAR MP4 VERSION or Open The Video below for better experience. Thank you!)
⏲ Duration: 0:41
👁 View: 70K times
✓ Published: 20-Apr-2024
👁 View: 70K times
✓ Published: 20-Apr-2024
Description:
The average rate on the 30-year fixed mortgage is currently around 7.5%, the highest level since mid-November and up from around 6% in February. Higher rates caused home sales to stall last year but rebounded before rising rates halted the surge. Affordability is weakening as rates increase while housing supply remains very low, fueling competition. Despite higher rates, mortgage applications to purchase homes rose 5% last week compared to the prior week. Economists expect rates to remain elevated given inflation and Fed policy, dampening sales going forward.
The average rate on the 30-year fixed mortgage is currently around 7.5%, the highest level since mid-November and up from around 6% in February. Higher rates caused home sales to stall last year but rebounded before rising rates halted the surge. Affordability is weakening as rates increase while housing supply remains very low, fueling competition. Despite higher rates, mortgage applications to purchase homes rose 5% last week compared to the prior week. Economists expect rates to remain elevated given inflation and Fed policy, dampening sales going forward.
Share with your friends:
Whatsapp | Viber | Telegram | Line | SMS
Email | Twitter | Reddit | Tumblr | Pinterest
Related Videos
_the-fate-of-o-j-39s-body-has-been-revealed.webp "Why is O.J. Simpson's brain in such high demand? Here's why Simpson's lawyer has been fielding calls from medical centers, and what's going to happen to his body.")
_what39s-your-source-of-energy.webp "What's your source of Energy? from brain test level 48")
_oj-simpsons-brain-will-not-be-probed-for-signs-of-whether-he-was-prone-to-erupting-in-violence.webp "After repeated requests from scientists who asked to study OJ Simpson’s brain to see if the former running back suffered Chronic Traumatic Encephalopathy – which can trigger outbursts of violence in sufferers – the former NFL player’s lawyer has said it will not be examined and Simpson will be cremated.")
⏲ 1:24 👁 70K
_premier-league-golden-boot-race-palmer-level-with-haaland.webp "Cole Palmer's four-goal masterclass moved him level with Erling Haaland in the race for the Golden Boot")
_the-billionaire39s-accidental-bride-ep-201-104.webp "The Billionaire's Accidental Bride Ep 201-204")
_the-fate-of-o-j-39s-body-has-been-revealed.jpg)
_what39s-your-source-of-energy.jpg)
_oj-simpsons-brain-will-not-be-probed-for-signs-of-whether-he-was-prone-to-erupting-in-violence.jpg)
_premier-league-golden-boot-race-palmer-level-with-haaland.jpg)
_the-billionaire39s-accidental-bride-ep-201-104.jpg)
![[+]](/images/menu.gif){kind=small}