Mortgage Rates Continue Their Ascent
The 30-year FRM averaged 7.17% as of April 25, 2024, up from last week, when it averaged 7.10%.
The 30-year FRM averaged 7.17% as of April 25, 2024, up from last week, when it averaged 7.10%.
Redfin's study shows monthly mortgage payments dropping $164 from peak.
The 30-year fixed mortgage rate averaged 6.71% this week.
Redfin says inventory is down nearly 20% YOY, but homes for sale are flying off the market.
Rates climb closer to 7%; reach level not seen since November.
Both refis and purchase loans rose; MBA also revises data for previous seven weeks.
The 30-year fixed mortgage increases to 6.5%, highest since November 2022.
Analysis by The Urban Institute finds growth was driven by young, high-earning, highly educated borrowers.
Volume decreased 13.3% in MBA weekly survey, the third decline in four weeks.