Mortgage rates hit new high since last JulyMovement StaffMovement Mortgage Blog

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March 5, 2021

Mortgage rates hit new high since last July

According to National Mortgage News, the mortgage rate increases noticeably stifled recent borrower applications, but further growth should slacken right as the typical prime home buying season starts, said Sam Khater, Freddie Mac’s Chief Economist.

“While activity remains high, it’s currently on par with early March, prior to the pandemic,” Khater said in a press release. “However, the rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”

The average for the 15-year FRM held at 2.34% from last week and remained far below the 2.795 from the year before.

Continue reading Mortgage rates hit new high since last July at Movement Mortgage Blog.

According to National Mortgage News, the mortgage rate increases noticeably stifled recent borrower applications, but further growth should slacken right as the typical prime home buying season starts, said Sam Khater, Freddie Mac’s Chief Economist.
“While activity remains high, it’s currently on par with early March, prior to the pandemic,” Khater said in a press release. “However, the rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.”
The average for the 15-year FRM held at 2.34% from last week and remained far below the 2.795 from the year before.
Continue reading Mortgage rates hit new high since last July at Movement Mortgage Blog.Movement Mortgage Blog

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