Today, the average 15-year fixed mortgage rate went to 6.20%. The average 15-year FRM hit a record weekly low of 2.1% on July 29, 2021, and a record weekly high of 18.63% on Sep. 10, 1981, according to Freddie Mac. The 15-year FRM offers borrowers a briefer term with less accru...
Here are the credit products already cheaper after the Fed's rate cut Lenders are already lowering rates on some products, providing savings to borrowers. Here's what to know. Sep 24, 2024 Interest rate cuts impact stock prices The Federal Reserve Board's announcement to cut interest ra...
Should you lock your mortgage rate today? I’m still optimistic that we’ll see a downward trend in mortgage rates. But I now reckon that probably won’t begin until much later in the year than I previously hoped. So, for now, my personal rate lock recommendations remain: ...
an increase to its benchmark interest rate makes it more expensive for banks to lend money to consumers. Conversely, rates tend to decrease during periods of rate cuts and cooling inflation.
This change was to the benefit of savings, and the nation's savings rate pushed up to a 4.6% rate, the highest since last June, up from a meager 3.5% in December. While such savings may be later spent on goods and services, the buildup here feels a little more like hunkering down...
when the Labor Department said inflation is back up to 3 percent. Stubbornly high inflation means that rates are likely to stay higher for longer. The Federal Reserve announcedno change to its benchmark federal funds rateat its first meeting of 2025, coming off three consecutive rate cuts that...
However, the Fed's policy committee cautioned at its December meeting that further rate cuts may be fewer and farther between—with just two 2025 rate cuts projected instead of the previously predicted four reductions. This scaled-back forecast for the year has pushed 10-year Treasury yields hig...
"Inflation and labor market conditions are two of the most significant factors in today's market, and they will drive movements in the 10-year yield and determine the size and pace of the Federal Reserve's rate cuts. As the Fed continues lowering rates, we are likely to see a modest ...
Today's Mortgage Rate Averages: Refinancing Refinancing rates were also largely up Monday. Roughly in line with its new purchase cousin, the 30-year refi average climbed 9 basis points. That keeps the spread between 30-year new purchase and refi rates at a narrow 24 basis points. The VA ...
Today's Mortgage Rates MortgageRates MND'sDaily Rate Survey RateChange 30 Yr. Fixed6.87%-0.02% 15 Yr. Fixed6.35%-0.02% 30 Yr. Jumbo7.20%-0.02% 7/6 SOFR ARM6.73%-0.15% 30 Yr. FHA6.23%-0.02% 30 Yr. VA6.24%-0.04% Updates Daily - Last Updated: 2/24 ...