Mortgage rates forecast

Mortgage rates remained relatively flat, rising a single basis point off of last week's record low, according to Freddie Mac.

Low rates, along with increased new and existing home sales activity drives the latest forecast.

Even though second-quarter originations were nearly double the same period in 2019, most were refinancings, which generate less revenue for title companies.

Mortgage rates fell 7 basis points this week to yet another record low in the 49-year history of the Freddie Mac Primary Mortgage Market Survey, as stock market indicators sank during the period.

Home purchase power increased by almost 7% annually in July as mortgage rates were at or near record lows.

Mortgage rates remained relatively flat this week, as yields for the benchmark 10-year Treasury spiked at the start of the period before dropping, according to Freddie Mac.

Mr. Cooper plans to hire an additional 2,000 employees by the end of this year as record low interest rates spur home purchases and mortgage refinancings.

Mortgage rates decreased by 8 basis points this week, remaining near record lows, while a strong purchase market should continue into the fall, according to Freddie Mac.

Uncertainty over the economy, the pandemic and politics are keeping existing owners from listing their homes.

Mortgage rates crept up this week, nearly reaching the 3% mark as lenders raised prices because of a new fee, although purchase activity remained solid, according to Freddie Mac.

Interest rates jumped from a new record low, while Fannie Mae and Freddie Mac were widely panned for imposing a refinance fee.

But the 30-year fixed remains below 3%, which should continue to support increased demand.

About 54% of properties underwent bidding wars in July with some metro areas peaking at 75%, according to Redfin.

Earnings reports out this week beat pessimistic expectations, but strained coronavirus relief negotiations in Congress cloud the outlook for what's ahead.

Whether mortgage rates continue to decline may depend on Friday’s job numbers.

Rates are forecasted to remain at the current low levels for the rest of 2020, driving steady refinance volume.

Mortgage rates fell 2 basis points this week, remaining near their historic lows as they have for the past month with the markets roiled by uncertainty, according to Freddie Mac.

Mortgage rates rose for the first time in six weeks, going back the above the 3% mark, as spreads to the 10-year Treasury yield widened again, according to Freddie Mac.

Mortgage rates slid further this week, as the conforming 30-year fixed loan fell below the 3% mark for the first time in the 50 years Freddie Mac has tracked this information.

Mortgage rates continued their slide, with the conforming 30-year fixed at its closest point ever to breaching the 3% mark, according to Freddie Mac.