Mortgage Rates Climb Again
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Industry experts generally don't foresee meaningful mortgage rate drops right after the July Fed meeting. The reason behind that sentiment comes down to how mortgage rates work .
Mortgage rates today are steady, but loan demand fell 10% after recent rate increases. See what’s driving today’s trends.
It's a bit of a stretch to refer to the past week as a "losing streak" for mortgage rates. The worst part about it was the consistency of upward movement starting last Wednesday. In terms of the
For Gen Z, respondents indicated they’re only willing to go up to a 5.8% rate from their current average of 5.1%. Millennials (born between 1981 and 1996), who have an average rate of 4.9%, say they would extend to a max of 5.5%.
Mortgage delinquencies are rising across the U.S., especially in southern states like Florida, Georgia, and South Carolina, a study by Cotality found. Escrow payments have surged – up 62% in the last 5 years – likely due to rising property taxes and insurance premiums.
Bad news first: mortgage rates have been moving steadily higher in July with the average top tier 30yr fixed scenario rising from 6.67% to 6.81% in just 4 business days. This isn't an incredibly abrupt move,