Instant Reaction: Mortgage Rates, October 26, 2023

The 30-year fixed mortgage interest rate has now surpassed the historical average since 1971 of 7.74%. The rate now sits at 7.79%, up from 7.63% last week. After gaining steam since September, the rate is just shy of 8%. For a $400,000 home, a mortgage interest rate of 7.79% means a mortgage pay

Mortgage Rates and Approval Rates in the Last 5 Years

Please note: The Tableau data visualization embeds in this post are best viewed on a laptop or desktop computer. Mortgage Interest Rates Between 2018 and 2022, most applicants (5,530,386) received a mortgage rate below 3%. However, the average U.S. rate between those yea

Instant Reaction: Mortgage Rates, October 19, 2023

Since the first week in September, home buyers have faced weekly increases in mortgage interest rates. Today's release at 7.63% shows they are close to the historical average since 1971 of 7.74%. The typical existing condo of $353,800 means a monthly mortgage payment of $2,004. The latest month's