It was the biggest weekly drop since January 2015, but the 30-year FRM was still up almost a percentage point from its 3.92% one year ago. From Florida Realtors® News For more information, visit – http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=374309
Treasure Coast & Palm Beach | Real Estate News
Rates for home loans took a breather after churning to the highest in nearly eight years, mortgage liquidity provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 4.94% in the Nov.15 week, unchanged during the week. The 15-year fixed-rate mortgage averaged 4.36%, up three basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.14%, also unchanged. Those rates don’t include fees associated with obtaining mortgage loans. Fixed-rate mortgages move in line with the U.S. 10-year Treasury note, although with a slight delay. Investors have snatched up bonds as concerns about the Chinese economy and geopolitics have prompted a stock sell-off. Bond yields fall as prices rise, and vice versa. Meanwhile, a sense of stagnation keeps creeping into the many corners of the housing market. ...
The 30-year fixed-rate mortgage rose 11 basis points to 4.94%, due to “strong business activity and growth in employment,” says Freddie Mac’s chief economist. from Florida Realtors® News For more information, visit – http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=373682
Rates remain near seven-year highs, but the drop from last week’s 4.86% offers a bit of relief after market anxiety over rising interest rates. from Florida Realtors® News For more information, visit – http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=373381
A decade ago, foreclosures were big part of the housing market; today, they’re almost a non-issue – but a few Fla. metros are seeing a foreclosure resurgence. From Florida Realtors® News For more information, visit – http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=372565