The 30-year fixed-rate mortgage averaged 6.69% as of June 15, down from last week when it averaged 6.71%.
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Mortgage Rates Down Again
Housing Wire
Why is housing inventory growing with higher mortgage rates?
The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened […]
Housing Wire
Apartment permits are back to recession lows. Will mortgage rates follow?
In Tuesday’s report, the 5-unit housing permits data hit the same levels we saw in the COVID-19 recession. Once the backlog of apartments is finished, those jobs will be at risk, which traditionally means […]
Housing Wire
Are 1970s inflation and mortgage rates possible?
The CPI report came out Tuesday, and the headline number showed a 12-month inflation of 3.2%. The running average of CPI going back to 1914 has been 3.3%. So, what should we take away […]