Mortgage Rates Surge, Dampening Demand in Year-End Housing Market

📆 13/10/1403 04:19 ب.ظ
📰 NBCPhiladelphia

⏱ Reading Time:
20 sec. here
7 min. at publisher
📊 Quality Score:
News: 28%
Publisher: 51%

Real Estate اخبار

Mortgage Rates,Housing Market,Refinancing

A sharp increase in mortgage interest rates towards the end of December 2024 led to a significant decline in mortgage application volume, coinciding with the typically slow period for the housing market. The average contract interest rate for 30-year fixed-rate mortgages rose to 6.97% from 6.89%, according to the Mortgage Bankers Association. Both refinance and purchase applications fell, with refinance applications dropping 36% and purchase applications declining 13% during the two weeks ending December 27, 2024.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less increased to 6.97% from 6.89%.

During that time, the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of $766,550 or less increased to 6.97% from 6.89%, with points increasing to 0.72 from 0.67, including the origination fee, for loans with a 20% down payment. Mortgage rates, which had been lower than the previous year for much of 2024, were 21 basis points higher annually.

این خبر را خلاصه کرده ایم تا بتوانید سریع آن را بخوانید. اگر به خبر علاقه مند هستید، می توانید متن کامل را اینجا بخوانید. ادامه مطلب:

نوشتن نظر

ایران آخرین اخبار, ایران سرفصلها