April 16, 2020
Mortgage rates continue to hover near all-time lows for the third straight week. As a result, refinance activity remains high, but home purchase demand is weak due to economic tightening. While new monthly economic data are driving markets lower this week, they are a lagging indicator and should be priced in already. Real time daily economic activity metrics suggest that the economy will likely not decline much further. Going forward, the key question is no longer the depth of the economic contraction, but the duration.

Information provided by Freddie Mac.

April 9, 2020
While mortgage rates remained flat over the last week, there is room for rates to move down. This year the 10-year Treasury market has declined by over a full percentage point, yet mortgage rates have only declined by one-third of a point. As financial markets continue to heal, we expect mortgage rates will drift lower in the second half of 2020.

Information provided by Freddie Mac.

April 2, 2020
Mortgage rates have drifted down for two weeks in a row and that drop reflects improvements in market liquidity and sentiment. While the market has stabilized relative to prior weeks, homebuyer demand has declined in response to current economic conditions. The good news is that the pending economic stimulus is on the way and will provide support for both consumers and businesses.

Information provided by Freddie Mac.

March 26, 2020
The Federal Reserve’s swift and significant efforts to stabilize the market were much needed and helped mortgage rates drop for the first time in three weeks. Similar to other segments of the economy, real estate demand is softening. However, the combination of the Fed’s actions and pending economic stimulus will provide substantial support to the mortgage markets.

Information provided by Freddie Mac.

March 19, 2020
Mortgage rates rose again this week as lenders increased prices to help manage skyrocketing refinance demand. This is expected to be a short-term phenomenon as lenders work through their backlog. On the purchase front, daily loan purchase applications were rising as of mid-February but started to decline last Friday.

Information provided by Freddie Mac.

March 12, 2020
As refinance applications continue to surge and lenders work to manage capacity, the 30-year fixed-rate mortgage ticked up from last week’s all-time low. Mortgage rates remain at extraordinary levels and many homeowners are smartly weighing their options to refinance, potentially saving themselves money.

Information provided by Freddie Mac.

March 5, 2020
The average 30-year fixed-rate mortgage hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. Meanwhile, mortgage applications increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy.

Information provided by Freddie Mac.

February 27, 2020
Given the recent volatility of the ten-year Treasury yield, it’s not surprising that mortgage rates again have dropped. These low rates combined with high consumer confidence continue to drive home sales upward, a trend that is likely to endure as we enter spring.

Information provided by Freddie Mac.

February 20, 2020
The low mortgage rate environment continues to spur homebuying activity, with applications to purchase a home up fifteen percent from a year ago. We’ve seen new residential construction surge over the last few months, on pace to reach the highest level in more than a decade. This is a good sign for the inventory-starved housing market and is a promising indication for the spring homebuying season.

Information provided by Freddie Mac.

February 13, 2020
With mortgage rates hovering near a five-decade low, refinance application activity is once again surging, rising to the highest level in seven years. This surge coupled with strong purchase activity means that total mortgage demand remains robust, reflective of a solid economic backdrop and a very low mortgage rate environment.

Information provided by Freddie Mac.