Tag Archives: hike

Fixes continue to move upwards as base rate hike bites, Moneyfacts data shows

For a two-year fix, the average rate increased 3 basis points to 3.08%, while the average rate for a three-year fix moved 3 basis points in the same direction, to 3.05%. At the same time, the average rate for a five-year fix grew 2 basis points to 3.22% and the average rate for a 10-year […]

Federal Reserve approves interest rate hike of half a percentage point What does that mean for mortgage rates?

The Federal Reserve Wednesday approved a 50 basis point increase to its policy interest rate in an effort to reduce inflation, in conjunction with a plan to shrink its $9 trillion asset portfolio beginning next month, according to Chairman Jerome Powell. During a news conference following the Fed’s committee meeting, Powell announced the increase and outlined the […]

Here’s what the Fed’s half-point rate hike means for your money

The Federal Reserve raised its target federal funds rate by a half point at the end of its two-day meeting Wednesday, notching the largest increase in the benchmark in more than 20 years. “The Federal Reserve is behind the curve,” said Greg McBride, chief financial analyst at Bankrate.com. “They have to raise interest rates a lot […]

Here’s how you can prepare if t.’s a 50 basis point Fed rate hike

Consumers are spending more to keep up with the surging cost of living, and it may get worse before it gets better. “Even though wage growth has been the best in decades, it’s been outpaced by increased household costs,” said Greg McBride, chief financial analyst at Bankrate.com. “With inflation at a 40-year high, that has […]

Mortgage rates soar to 4.42% following rate hike According to the Freddie Mac‘s PMMS survey, rates climbed 26 basis points to 4.42%

The rollercoaster is still climbing. Mortgage rates are approaching 4.5%, a level economists forecasted would not be reached until the tail end of 2022. And t.’s good reason to believe mortgage rates will be in the 5% range before too long. According to data from Freddie Mac‘s PMMS survey, mortgage rates on the traditional 30-year fixed-rate mortgage jumped […]

Mortgage rates surge to 3-year high following Fed hike

Mortgage rates accelerated following last week’s Federal Reserve meeting, with the 30-year average now at its highest in over three years, according to Freddie Mac. The 30-year fixed-rate mortgage average came in at 4.42% for the weekly period ending March 24, based on data from Freddie Mac’s Primary Mortgage Market Survey, a spike of 26 […]

3 mortgage-related takeaways about the Fed rate hike

Historically, purchase loans are considered more at risk for material misrepresentations in mortgage applications. Although certain risk product types that used reduced or no verification of applicant’s .rmation are no longer available in the marketplace, this is reminiscent of what happened starting in 2008, when the chickens came home to roost over lax underwriting practices. […]

Here’s what the Fed’s rate hike means for borrowers, savers

The Federal Reserve raised its target federal funds rate by a quarter percentage point from near zero at the end of its two-day meeting Wednesday. The first increase in the benchmark rate in three years will lay the groundwork for six more hikes by year’s end. “The war in Eastern Europe gives the Fed reason to act more cautiously, but […]

Here’s what the Fed’s expected rate hike means for your wallet

The Federal Reserve is expected to raise rates Wednesday as they look to contain soaring inflation. The first quarter-point increase in the federal funds rate in three years will likely lay the groundwork for additional hikes to follow. “The cumulative effect of rate hikes is what is really going to have an impact on the economy and […]