Weekly mortgage demand drops as interest rates rise again, but Fed announcement will be key for spring market

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.97% from 6.84%

The latest Federal Reserve rate announcement could have a significant impact on the trajectory of mortgage demand this spring. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 6.97% from 6.84%, with points decreasing to 0.64 from 0.65 for loans with a 20% down payment. That was the weekly average, but another index from Mortgage News Daily, which looks at daily rates, had the 30-year fixed mortgage moving back over 7% last Thursday.

Loans Loans Latest News, Loans Loans Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Weekly mortgage demand jumps again as interest rates fall just below 7%Mortgage demand surged higher for the second straight week, after the average rate on the 30-year fixed dropped below 7%.
Source: CNBC - 🏆 12. / 72 Read more »

Mortgage rates ease slightly as spring homebuying season nears: Freddie MacThe average 30-year fixed-rate mortgage was 6.88% for the week ending March 7, according to Freddie Mac's latest Primary Mortgage Market Survey.
Source: FOX29philly - 🏆 570. / 51 Read more »

Today's mortgage rates drop for 30-year termsMortgage rates fluctuate almost daily based on economic conditions. Here are today’s mortgage rates and what you need to know about getting the best rate.
Source: FoxBusiness - 🏆 458. / 53 Read more »

Mortgage demand roars back to life as interest rates dip below 7%A key measure of home-purchase application jumped more than 7% last week as mortgage rates fell below the 7% threshold for the first time in two months.
Source: FoxBusiness - 🏆 458. / 53 Read more »