Tag Archives: 30-year mortgage rate

What happened to mortgage applications this week?

“With mortgage rates increasing last week to the highest level since 2009, applications continued to decline. Overall application activity fell to the lowest level since 2018, with both purchase and refinance applications posting declines,” said Joel Kan, AVP of economic and industry forecasting at MBA. The refi index posted a 9% week-over-week decrease, and the […]

US mortgage rates cross 5% for first time in a decade

The 30-year fixed mortgage rate has reached the 5% mark, hitting its highest level in more than 10 years as inflation continues to soar. Freddie Mac’s weekly primary mortgage market survey showed that the average 30-year fixed-rate mortgage jumped to 5% as of April 14 from 4.17% the week prior. A year ago, the benchmark […]