New data from Freddie Mac reports a fifth straight rise in weekly average 30-year and 15-year fixed mortgage rates, while daily rates appear to have calmed after this week’s news of a Fed rate pause as of Friday, May 3, 2024. The current average rate for a 30-year fixed mortgage is 7.36% for both purchase
Donald Trump’s agenda includes a range of policies that could create new inflation pressures in the years ahead. The emerging debate among economists is exactly what those price effects would be if he wins. Trump’s ambitious plans include 60% tariffs on Chinese goods and 10% duties on other global trading partners. He is also promising
Mortgage rates have remained high this week. While we probably won’t experience dramatic spikes anytime soon, it’s unlikely that we’ll see significant drops, either. A huge indicator of when mortgage rates will go down is when the Federal Reserve lowers the federal funds rate. Although the Fed’s rate doesn’t directly impact mortgage rates, it is
Mortgage rates on 30-year terms continue their climb back to nearly 7.0% as of Friday, March 22, 2024, in the wake of the Federal Reserve’s hold on the benchmark interest rates. The Fed concluded its most recent meeting this week by holding the federal funds target interest rate at 5.25% to 5.50%, the fifth consecutive