Mortgage Rates1 – We lost some ground this week and our benchmark rate climbed back up to 6.990% (7.067% APR). There wasn’t any ‘big’ news this week, but Thursday’s initial jobless claims report, which measures individuals filing for first-time unemployment benefits,...
Mortgage Rates1 – A little good news to report: for the first time in weeks our benchmark rate dropped considerably, and we are back in the sixes! Our benchmark rate is now at 6.750% (6.836% APR) driven primarily by Wednesday’s release of the June Consumer Price...
Mortgage Rates1 – It wasn’t a friendly week for interest rates, and we saw our benchmark rate move up to 7.25% (APR 7.37%). On Wednesday, the FOMC released the minutes from its June 14th meeting, which showed that almost all of the Fed officials believe further...
Mortgage Rates1 – We had a relatively stable week until yesterday’s Initial Jobless Claims Report (which measures individuals filing for first-time unemployment benefits), fell 26,000 to 239,000 causing rates to increase to 6.999% (APR 7.044%). While a substantial...
Mortgage Rates1 – Rates moved slightly higher this week and our benchmark rate is now at 6.875% (APR 6.948%) on the heels of Fed Chair Jerome Powell’s semi-annual testimony to the Financial Services Committee in the House of Representatives and the US Congress. He...
Mortgage Rates1 – While we ended the week slightly better than where we started, and our benchmark rate is now at 6.75% (APR 6.828%) it was not a flat road. The headline inflation number in the May CPI report showed a year-over-year declined from 4.9% to 4.0% (which...
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