Mortgage Rates Are Still Going Up—Here's Why - Newsweek

The 30-year fixed mortgage rate hit the 7% mark on Monday, the highest level since the start of the summer, as the election looms.

CouponFollow Extension

7%
OFF

Mortgage Rates Are Still Going Up—Here's Why - Newsweek

3 weeks from now

The 30-year fixed mortgage rate hit the 7% mark on Monday, the highest level since the start of the summer, as the election looms.

newsweek.com

3%
OFF

How To Get A Mortgage Rate Under 3% In 2025 - Newsweek

3 weeks from now

Jan 15, 2025 · With 30-year fixed mortgage rates officially crossing the 7 percent threshold, the idea of securing a mortgage rate in the 3 percent range—let alone under 3 percent—may …

newsweek.com

08%
OFF

The Surprising Reason Mortgage Rates Are Up Despite Interest Rate …

3 weeks from now

Oct 20, 2024 · Why mortgage rates are rising 30-year fixed-rate mortgages averaged 6.08% on September 26th, the week after the Fed announcement.

thestreet.com

FAQs about Mortgage Rates Are Still Going Up—Here's Why - Newsweek Coupon?

Will mortgage rates go up further?

WalletHub analyst Chip Lupo told Newsweek, "Mortgage rates are unlikely to go up further, given the Federal Reserve's apparent desire to cut its target rate. This should help prospective home buyers and the housing market generally." ...

Are high mortgage rates affecting homeownership?

High mortgage rates and home prices have kept homeownership out of reach for many prospective buyers. Borrowing costs on a 30-year home loan in the U.S. increased to 6.85 percent from 6.72 percent last week, mortgage buyer Freddie Mac said Thursday. Meanwhile, the rate of a 30-year mortgage averaged 6.61 percent a year prior. ...

Why have mortgage rates risen in recent months?

Mortgage rates have risen in recent months, even as the Federal Reserve has cut interest rates. While those opposing movements may seem counterintuitive, they're due to market forces that seem unlikely to ease much in the near term, according to economists and other finance experts. That may leave prospective homebuyers with a tough choice. ...

Will mortgage rates rise in 2025?

The Fed lowered interest rates this week, causing speculation about mortgage rates in 2025. Thompson told Newsweek: "With the 10-year Treasury yield climbing above 4.5 percent and nearing 5 percent, housing affordability will likely become even more challenging. I expect mortgage rates to remain between 6.5 percent and 7.5 percent indefinitely." ...

Are mortgage rates set to fall this year?

Some housing economists suggested that rates are set to fall this year. Mike Fratantoni, Mortgage Bankers Association chief economist, suggested that Fed policymakers were being cautious about slashing rates before prices consistently trend lower. ...

How have mortgage rates impacted home prices?

Mortgage rates, which have declined markedly since they hit their two-decade peak in October, have contributed to a rise in demand for homes, which in turn has helped push up prices, Freddie Mac said. ...