|Author||Topic: Mortgage Rate Going Up|
|posted: 3/30/2022 at 2:00:20 PM ET|
The 30-year fixed-rate mortgage averaged 3.45% for the week ending Jan. 13, up nearly a quarter of a percent from the previous week, Freddie Mac FMCC, -0.54% reported Thursda 1y. It’s the highest average rate for the 30-year loan since March 2020 when the coronavirus pandemic first began to send shockwaves through financial markets amid the first wave of lockdowns.
Comparatively, a year ago, the 30-year fixed-rate mortgage averaged 2.23%, near record-low levels.
|posted: 4/18/2022 at 3:23:43 AM ET|
For the thirteenth time since the beginning of the year, the cost of mortgage loans has plummeted to an all-time low, staying below 3% per year for seventeen weeks. The average 30-year fixed interest rate dropped to 2.72 percent, the lowest level since the settlement began. Since a mortgage loan usually involves borrowing a large amount of money over a long period of time, it's like a hot potato, so I did a little research and contacted a Mortgage Advsior Birmingham. A down payment is generally required in mortgage agreements carefully read it and everything will become evident.
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