Tag Archives: rates

The Federal Reserve raised short-term interest rates Wednesday by a quarter percentage point, bringing its benchmark rate to a new range of 4.50% and 4.75%, the highest level since October 2007. In its statement on Wednesday, the central bank acknowledged the slowdown in inflation as the Fed continues to assess the impact its interest rate hikes have had on consumer prices over the last year. The 25 basis point rate hike marks a further slowdown in the Fed’s pace of rate increases after the… Source link

Mortgage rates fell for the third consecutive week, helping to revive some buyer interest. The rate on the average 30-year fixed mortgage declined to 6.15% from 6.33% a week prior, according to Freddie Mac. Rates have fallen more than three-quarters of a point since mid-November, as signs that inflation is finally cooling strengthen the chances that the Federal Reserve will slow down its aggressive rate hikes this year. The dip in rates is a boon to homebuyers, especially first-timers, who are… Source link

Homebuyers may finally catch a break this year, says one expert, as signs of fading inflation could drive mortgage rates lower as soon as this month. “Mortgage rates have declined by almost a full percentage point since they peaked in November,” Melissa Cohn, vice president for William Raveis, a real estate brokerage firm, told Yahoo Finance Live (video above). “I think that we can expect mortgage rates to go down another quarter or even as much as a half a percent over the course of… Source link

As the holiday season approaches, COVID cases are on the rise once again around the world. Globally, there have been more than 654 million COVID cases, with more than 15 million recorded in the last 28 days, according to the Johns Hopkins Coronavirus Resource Center. The U.S. is nearing an overall total of 100 million cases, with more than 1.5 million cases seen over the last 28 days. Despite this uptick, one NYC-based physician is optimistic about how the U.S. will fare throughout the winter,… Source link

It’s been a no good, very bad year for private companies eager to make their debuts on U.S. and global exchanges. Through December 14, there have been just 1,333 initial public offerings worldwide in 2022 which collectively raised $179.5 billion, marking a 45% drop in listings raising 61% fewer dollars compared to 2021. “Amid an environment defined by higher inflation and rising interest rates, investors have spurned new public companies and turned to less risky asset classes,” said Paul Go,… Source link

The Federal Reserve raised short-term interest rates Wednesday by a half percentage point, slowing down its pace of rate hikes from this summer’s torrid clip. The rate hike brings the Fed’s benchmark policy rate, the federal funds rate, to a new range of 4.25%-4.5%, the highest level since December 2007. Wednesday’s 50 basis point rate hike comes after the Fed raised rates by 75 basis points at each of the past four policy meetings — its most aggressive stretch since the 1980s. “Recent… Source link

Mortgage rates plunged by nearly a half-percent this week, marking the largest week-over-week decline since November 1981. The rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its methodology calculating rates. The drop follows a sharp decline in the yield on the 10-year Treasury last week after a government showed inflation cooled last month. The sudden decrease gave price-strained homebuyers and sellers… Source link

Mortgage rates dropped below 7% this week, but remain high enough to keep price-rattled homebuyers on the sidelines. The rate on the average 30-year fixed mortgage fell to 6.95%, down from 7.08% the week prior, according to Freddie Mac. Still, rates are 3.73 percentage points higher since the start of the year, the largest year-to-date increase in over 50 years. Sharply higher rates in combination with elevated home prices and still-high inflation have triggered a fight-or-flight response… Source link

Mortgage rates, over 7% or so, are at their highest levels in 20 years and loan applications are down. So, it should follow, that homeowners looking to refinance loans would also be headed to the sidelines in droves. But according to experts, it might still make sense for homeowners to refinance. Why? Rates, even at current levels, can still be a decent deal compared to alternatives. “People would still be refinancing if they need the cash, so they are withdrawing equity, even at much higher… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, Nov. 2, 2022 Today’s newsletter is by Janna Herron, Yahoo Finance’s personal finance editor. Follow Janna on Twitter @JannaHerron. Read this and more market news on the go with Yahoo Finance App. It’s no secret the mortgage market is getting hammered. Just look at last week’s stats on new home sales and pending ones and you… Source link