https://growella.com/ mortgage / ► Today’s mortgage and real estate news: (1) Mortgage rates for all types of loan s — conforming, USDA, VA, USDA, FHA, and Jumbo — are spiking. Rates have moved to a 7-year high and it’s affecting today’s home buyers. (2) An update on today’s mortgage rates and a look at the 5-day trends. (3) The U.S. Census Bureau’s Housing Starts report showed an increase in single-family home construction in March as compared to month prior, but the news headlines are telling the story differently.
FROM THIS EPISODE
With this two-week run up in rates dating back to late-April, rates for all loan types are clocking in at the highest interest rate levels in the last seven years. Seven years! Conforming thirty-year fixed rates, which now hover near 4.625 according to Freddie Mac’s most recent Primary Mortgage Market Survey, are now up five-eights of a percentage point since the start of the year, adding an extra forty dollars per month for every hundred thousand dollars in your mortgage . We’re not talking chump change here, friends.
Jump to the following:
(00:11) Freddie Mac Primary Mortgage Market Survey
(01:18) Today’s mortgage rates and trends
(01:55) Housing Starts data from the Census Bureau
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