mortgagerates
The housing market, a significant indicator of economic health, has been undergoing a dramatic shift, particularly concerning millennials and Generation Z. Over the past three years, the cost of both renting and buying a home has surged significantly. However, the gap between the two has widened to an unprecedented extent. The median monthly cost of home ownership has risen to $2,800, compared to $1,800 for renting. This gap of over $1,000 is nearly double what it was during the housing bubble that precipitated the Great Financial Crisis. This disparity doesn’t even factor in the substantial d...
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The American Dream just got a lot more expensive for first-time homebuyers. There are three reasons for this. Mortgage rates are at their highest levels in 15 years. Prices for starter homes are spiraling upward due to lack of supply—which is, in part, because of higher mortgage rates. Meanwhile, incomes are hardly keeping up. Housing affordability today becomes even more astonishing when you compare it to the dreaded early 1980s when mortgage rates hit a record 18%. Housing Affordability Today Vs. 1970 And 1981The gap between incomes and house prices has been widening slowly for 50 years, but...
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Buying a home is always nerve-racking, but those looking purchase right now have even more reasons to fret: the Federal Reserve has been raising interest rates steadily for more than a year, meaning that those looking to get a mortgage are likely looking at a rate they aren’t going to like. The Federal Reserve Bank of New York just published the results of the 2023 edition of the Survey of Consumer Expectations Housing Survey, giving a snapshot of the housing market and how consumers are faring in it. Q4 2022 hedge fund letters, conferences and more What Home Buyers Are ThinkingAmong the most ...
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In his podcast addressing the markets today, Louis Navellier offered the following commentary. Blaming Bank ExaminersThe Congressional hearings about the failure of Silicon Valley Bank essentially blamed the banking examiners as the primary scapegoat. An inverted Treasury yield curve is what ultimately caused Silicon Valley Bank to fail, but this bank held much more long-term Treasury bonds than most other banks. Q4 2022 hedge fund letters, conferences and more The other culprit that took out Silicon Valley Bank was a spike in Treasury yields in February in the wake of the unexpectedly strong ...
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Homeowners across the country and much of the world are seeing their mortgage rates jump, as central banks continue to bump up prime interest rates in an ongoing effort to dampen stubbornly high inflation. Q4 2022 hedge fund letters, conferences and more While inflation has remained steady, ending December at 6.5%, the Federal Open Market Committee (FOMC) hawkishly raised rates again during its February meeting by 25 basis points to 4.5%-4.75%. Several aggressive hikes last year, and the most recent has pushed the cost of borrowing to its highest levels since the 2008 financial crisis. It’s no...
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On the Mortgage FrontFreddie Mac (OTCMKTS:FMCC) reported the 30-year fixed-rate mortgage averaged 6.95% as of Nov. 3, down from last week when it averaged 7.08%. The 15-year fixed-rate mortgage averaged 6.29%, down from last week when it averaged 6.36%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.95%, down from last week when it averaged 5.96%. Q3 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorEach advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched...
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On The Mortgage FrontFreddie Mac (OTCMKTS:FMCC) reported the 30-year fixed-rate mortgage averaged 7.08% as of Oct. 27, up from last week when it averaged 6.94%. The 15-year fixed-rate mortgage averaged 6.36% up from last week when it averaged 6.23%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.96%, up from last week when it averaged 5.71%. Q3 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorEach advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you're ready to be matched with ...
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This week, the housing market saw a continued climb in mortgage rates while existing home sales continued falling. On The Mortgage FrontFreddie Mac (OTCMKTS:FMCC) reported the 30-year fixed-rate mortgage averaged 6.94% as of Oct. 20, up from last week when it averaged 6.92%. The 15-year fixed-rate mortgage averaged 6.23%, up from last week when it averaged 6.09%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 5.71%, down from last week when it averaged 5.81%. Q3 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorEach advisor has been vette...
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This week in the housing world, mortgage rates ascended to their highest level in 20 years, mortgage application activity remained at a quarter-century low, and foreclosure starts almost returned to pre-pandemic levels. On the Mortgage FrontFreddie Mac (OTCMKTS:FMCC) reported the 30-year fixed-rate mortgage averaged 6.92% as of Oct. 13, up from last week when it averaged 6.66%. The 15-year fixed-rate mortgage averaged 6.09%, up from last week when it averaged 5.90%. And the 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 5.81%, up from last week when it averaged 5.36%. Q...
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Mortgage rates passed the 6% mark for the first time in 12 years – and while mortgage applications continue to be in decline, it is possible that homebuyers can get a bargain in two weeks from today. On The Mortgage FrontFreddie Mac (OTCMKTS:FMCC) reported the 30-year fixed-rate mortgage averaged 6.02% as of Sept. 15, up from last week’s 5.89% average – one year ago at this time, the average was 2.86%. Q2 2022 hedge fund letters, conferences and more Find A Qualified Financial AdvisorEach advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. I...
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