Mortgage rates had a bad day. Even after a weaker reading on Retail Sales (something that normally helps), the bond market lost ground. Unfortunately, that’s consistent with the rest of the week as investors have largely shunned bonds. Lower demand for bonds = higher rates.
Mortgage Rates Jump to 8-Year High. By Ben Hernandez on November 9, 2018.. the five-year adjustable rate mortgage ticked higher to 4.14% versus 4.04% just a week ago and 3.22% the previous year.
Mortgage applications soared last week. CEO Jay Farner told CNBC Wednesday the jump resulted from greater awareness of.
U.S. jobless claims jump to 6-week high – Your Real Estate Life – Initial jobless claims, a tool to measure U.S. layoffs, rose by 10,000 to 249,000 in the week ended Nov. 11. The number of applications hit a six-week high and exceeded the 235,000 estimate of economists polled. The more stable monthly average of claims rose by 6,500 to 237,750, the government said Thursday.
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Low mortgage rates help propel U.S. home sales and the refinance market. “Rates moved up slightly this week while mortgage applications decreased following last week’s jump in rates – indicating.
Fixed mortgage rates continue their slide, falling for the fourth week in a row – “Mortgage applications increased 2.4 percent last week and were 15.4 percent higher than a year ago, with declining mortgage rates leading to a jump in refinance activity,” said Bob Broeksmit, MBA.
For now, sturdy demand for housing is buoying mortgage applications. It may even be pulling some Americans to apply now before rates jump even higher. “The typical consumer may not have a very.
· The surge in mortgage rates follows the Federal Reserve’s signal that it could slow its bond purchases later this year. A pullback by the Fed would likely send long-term interest rates even higher. In the short run, the spike in mortgage rates might be causing more people to consider buying a.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.92%, down from 3.93%. Mortgage rates track alongside the benchmark 10-year U.S. Treasury note yield TMUBMUSD10Y, +0.09% , which roared to a four-month high as trade war fears eased and Federal Reserve officials doubled down on their intentions to raise interest rates.
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