Posts with tag mortgage rates rising

New loan applications grew 2.2 percent last week as borrowers tried to lock in low interest rates, according to the Mortgage Bankers Association. The volume of mortgage applications reached its highest level since May; clearly the spike in mortgage rates motivated more homebuyers to act now. The average contract interest... Continue Reading »

Are the winds of homebuyer fate shifting? It certainly seems to be the case: The average interest rate on 30-year fixed-rate mortgages increased for the second straight week, Freddie Mac announced today. The average rate was 4.37 percent; the previous week, it was 4.35 percent, after hitting a record low of 4.32 percent a... Continue Reading »

Wall Street Journal reporter Kelly Evans deserves much praise for her sometimes insightful "Ahead of the Tape" column. But in the case of her entry today, titled "The Good News About Rising Mortgage Rates," her logic and conclusion are dead wrong. Evans claims that "one reason buyers have remained hesitant [about buying a... Continue Reading »