STOCK TITAN

Mortgage Rates Exceed 7 Percent for the First Time this Year

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Freddie Mac reports that the 30-year fixed-rate mortgage has exceeded 7 percent for the first time this year, reaching 7.10 percent. Potential homebuyers are faced with the decision of buying now or waiting for possible rate decreases later in the year. Purchase applications have risen modestly, but the impact of increasing rates on homebuyers remains uncertain.
Freddie Mac riporta che il mutuo a tasso fisso trentennale ha superato il 7 percento per la prima volta quest'anno, raggiungendo il 7,10 percento. I potenziali acquirenti di casa sono di fronte alla decisione di comprare ora o attendere possibili diminuzioni dei tassi più avanti nell'anno. Le domande di acquisto sono leggermente aumentate, ma l'impatto dell'incremento dei tassi sui compratori di case rimane incerto.
Freddie Mac informa que la hipoteca a tasa fija a 30 años ha superado el 7 por ciento por primera vez este año, alcanzando el 7.10 por ciento. Los potenciales compradores de vivienda se enfrentan a la decisión de comprar ahora o esperar posibles reducciones de las tasas más adelante en el año. Las solicitudes de compra han aumentado modestamente, pero el impacto del incremento de las tasas en los compradores de viviendas sigue siendo incierto.
프레디 맥은 올해 처음으로 30년 고정금리 모기지가 7퍼센트를 넘어서 7.10퍼센트에 도달했다고 보고합니다. 잠재적 주택 구매자들은 지금 구입할지 또는 연말에 가능한 금리 하락을 기다릴지 결정해야 합니다. 구매 신청은 약간 증가했지만, 금리 상승이 주택 구매자들에게 미치는 영향은 아직 불확실합니다.
Freddie Mac rapporte que le taux hypothécaire fixe sur 30 ans a dépassé les 7 pour cent pour la première fois de l'année, atteignant 7,10 pour cent. Les potentiels acheteurs de maison sont confrontés à la décision d'acheter maintenant ou d'attendre d'éventuelles baisses des taux plus tard dans l'année. Les demandes d'achat ont légèrement augmenté, mais l'impact de la hausse des taux sur les acquéreurs de logements reste incertain.
Freddie Mac berichtet, dass die 30-jährige Festhypothek erstmals in diesem Jahr die 7-Prozent-Marke überschritten hat und 7,10 Prozent erreicht hat. Potenzielle Hauskäufer stehen vor der Entscheidung, jetzt zu kaufen oder auf mögliche Zinssenkungen später im Jahr zu warten. Die Kaufanträge sind leicht gestiegen, aber die Auswirkungen der steigenden Zinsen auf die Hauskäufer bleiben ungewiss.
Positive
  • The 30-year fixed-rate mortgage has increased to 7.10 percent from 6.88 percent last week.
  • The 15-year fixed-rate mortgage has also risen to 6.39 percent from 6.16 percent.
  • Freddie Mac aims to make homeownership possible for families by promoting liquidity, stability, affordability, and equity in the housing market.
  • Since 1970, Freddie Mac has assisted millions of families in buying, renting, or maintaining their homes.
Negative
  • None.

MCLEAN, Va., April 18, 2024 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing the 30-year fixed-rate mortgage (FRM) averaged 7.10 percent.

“The 30-year fixed-rate mortgage surpassed 7 percent for the first time this year, jumping from 6.88 percent to 7.10 percent this week,” said Sam Khater, Freddie Mac’s Chief Economist. “As rates trend higher, potential homebuyers are deciding whether to buy before rates rise even more or hold off in hopes of decreases later in the year. Last week, purchase applications rose modestly, but it remains unclear how many homebuyers can withstand increasing rates in the future.”

News Facts

  • The 30-year FRM averaged 7.10 percent as of April 18, 2024, up from last week when it averaged 6.88 percent. A year ago at this time, the 30-year FRM averaged 6.39 percent.
  • The 15-year FRM averaged 6.39 percent, up from last week when it averaged 6.16 percent. A year ago at this time, the 15-year FRM averaged 5.76 percent.

The PMMS® is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. For more information, view our Frequently Asked Questions.

Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT:
Angela Waugaman
(703)714-0644
Angela_Waugaman@FreddieMac.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/c5dd7d33-b175-4e35-91e0-90807a0f06e0


FAQ

What is the current average rate for the 30-year fixed-rate mortgage (FRM) according to Freddie Mac's Primary Mortgage Market Survey (PMMS)?

As of April 18, 2024, the 30-year FRM averaged 7.10 percent.

How does the current 30-year FRM rate compare to the rate from last week?

The current rate of 7.10 percent is higher than last week's rate of 6.88 percent.

What is the average rate for the 15-year fixed-rate mortgage (FRM) based on the recent survey?

The 15-year FRM averaged 6.39 percent in the latest survey.

What is Freddie Mac's mission in the housing market?

Freddie Mac aims to make homeownership possible for families by promoting liquidity, stability, affordability, and equity in the housing market.

How long has Freddie Mac been assisting families in the housing market?

Since 1970, Freddie Mac has helped millions of families in buying, renting, or keeping their homes.

FREDDIE MAC

OTC:FMCC

FMCC Rankings

FMCC Latest News

FMCC Stock Data

946.81M
650.07M
0%
0.25%
7.96%
Savings Institutions
Finance and Insurance
Link
United States of America
Wilmington

About FMCC

freddie mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. since our creation by congress in 1970, we’ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. we are building a better housing finance system for homebuyers, renters, lenders and taxpayers.