U.S. mortgage rates hit seven year high. Home mortgage rates hit 7-year high. By Melanie Posey | November 8, 2018 at 7:47 PM CST – Updated November 8 at 7:47 PM . BIRMINGHAM, AL (WBRC) – When it comes to selling homes, Kim Barelare is an expert. She’s been a realtor for thirty years.
· The average 30-year mortgage rate topped 5% on Friday to a Fresh 7-Year High. Mortgage rates had a bad week and an especially bad day following a much stronger-than-expected jobs report. Mortgage rates were already operating fairly close to long.
· Mortgage rates top 5%, hitting a 7-year high. The Mortgage Bankers Association said this week that the average 30-year fixed home loan rate hit 5.05 percent –.
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As interest rates spiked in the past month, one direct consequence is that U.S. mortgage rates, already at a seven-year high, surged by the most since the Trump elections. According to the latest weekly Freddie Mac statement , the average rate for a 30-year fixed mortgage jumped to 4.9%, up from 4.71% last week and the highest since mid-April 2011.
Sam Khater, Freddie Mac’s chief economist, says, “The economy continued to show resilience as strong business activity and growth in employment drove the 30-year fixed mortgage rate to a seven.
· Buoyed by a strong economy and a series of interest rate increases by the Federal Reserve, thirty-year fixed mortgage interest rates reached 4.61 percent – the highest number since May of 2011. Rates crossed the 4 percent threshold in the week of January 11 and they have been on a relatively steady rise since then.
· That brings us to the Freddie Mac Primary mortgage market survey (pmms). rates increased again this week, hitting a seven-year high. Here are the numbers: The average rate on a 30-year fixed rate mortgage jumped six basis points to 4.6% (0.4 points) The average rate on a 15-year fixed rate mortgage increased six basis points to 4.08% (0.4 points)
· And federal mortgage buyer Freddie Mac said rates for a 30-year fixed mortgage are now at 4.9%, also more than a seven-year high.
Existing home sales hit a seven-year high in 2013. reached an “unsustainably” high 6.48 million at the close of the housing boom. In December 2013, total existing home sales increased 1% to a.
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