Mortgage rates

Home sellers for properties listed at $650,000 or less are more likely to overprice their house and as a result, these are the ones which are languishing on the market.

Pending home sales during November were led by a 5.2% monthly increase in the South, with smaller advances in the West and Midwest, the National Association of Realtors said.

Mortgage rates have run higher since the most recent Federal Reserve meeting as consumer spending points to economic strength.

Mortgage rates should decline very gradually next year as the Federal Reserve will keep to its implied path of short-term rate reductions, Freddie Mac said.

Only some of the increase compared with October can be attributed to Hurricanes Helene and Milton, as annual rates have increased six months in a row, ICE Mortgage Technology said.

Sales of new single-family homes increased 5.9% last month to a 664,000 annualized rate, in line with the median estimate of economists who expected 669,000.

United Wholesale Mortgage's legal battles and the passing of David Stevens top the list of important mortgage news in 2024.

The so-called core personal consumption expenditures price index, which excludes food and energy items, increased 0.1% from October and 2.8% from a year earlier, according to Bureau of Economic Analysis data out Friday.

Over the past two weeks, the 10-year Treasury yield, priced on market expectations, increased over 40 basis points and that is finally being seen in the Freddie Mac survey.

Habib, an often-accurate and frank forecaster bridging Main Street and Wall Street, explains why he found recent times to be challenging, but he's hopeful.

Monetary policy officials greenlighted a 25 basis-point federal funds cut but mixed economic signals dimmed hopes for more affordable home financing costs.

Mortgage originators should expect more of those interest rate dips that took place in September, but when they happen is the unknown factor, economists said.

President-elect Trump's victory will have a direct impact on how much the Federal Open Market Committee will cut short-term rates next year, Wolters Kluwer found.

Average rates for the 30-year fixed fell for the third consecutive week, Freddie Mac said, but the 10-year Treasury yield rose to the highest point in weeks.

But the Federal Housing Administration program was the only mortgage loan type to gain market share month-to-month as measured by rate lock percentage.

An interest rate drop spurred an unusually high number of recently originated mortgages to prepay, and one loan type proved to be particularly reactive.

The 30-year fixed rate mortgage is at its lowest point since the end of October, but it is still relatively elevated at near 7%, Freddie Mac reported.

As 2025 approaches, some lenders are already scaling operations, hiring talent, and preparing for the next cycle, despite ongoing market uncertainty, write leaders from Pennymac.

Yields on the U.S. five-year note added as much as six basis points to 4.10% after tumbling a quarter-percentage-point last week. 

For the second time in the past three weeks, the 30-year fixed mortgage moved lower, but investors want clarity about U.S. economic policy, Freddie Mac said.