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Fixed Mortgage Rates Move Higher
The 30-year mortgage rate rose 2 basis points to 4.32 percent, closing the year with nine consecutive weeks of increases. As mortgage rates continue to increase, home sales and affordability will continue to be a concern for housing in 2017.
New Listings and Pending Sales
Inventory
Existing Home Sales
Mortgage Rates At Two Year High
A week after the only rate hike of 2016, the mortgage industry digested the Fed’s decision and this week’s survey reflects that response. Following Yellen’s speech last Wednesday, the 10-year Treasury yield rose approximately 10 basis points. The 30-year mortgage rate rose 14 basis points to 4.30 percent, reaching highs we have not seen since April 2014.
New Listings and Pending Sales
Inventory
Mortgage Rates Move Higher
The 30-year mortgage rate rose 3 basis points on the week to 4.16 percent. If rates continue their upward trend, expect mortgage activity to be significantly subdued in 2017.
New Listings and Pending Sales
