Insightful Word
  • Investing
  • Stock
  • Economy
  • Politics
  • Investing
  • Stock
  • Economy
  • Politics
No Result
View All Result
Insightful Word
No Result
View All Result
Home Economy

US mortgage rates hit lowest since October

admin by admin
December 4, 2024
in Economy
0
US mortgage rates hit lowest since October
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

US mortgage rates have seen a significant drop, reaching their lowest point since mid-October, which has led to an increase in home purchase financing.

The 30-year mortgage contract rate fell by 17 basis points to 6.69% for the week ending November 29, marking the largest weekly decline since August. This data comes from the Mortgage Bankers Association (MBA), which released its findings on Wednesday.

The MBA’s index of home purchase applications rose 5.6% on a seasonally adjusted basis, reaching the highest point since the beginning of the year. This recent uptick in applications is part of a larger trend, with a roughly 18% increase observed over the past two weeks.

However, the data also show that these figures can experience significant fluctuations during the year-end holiday period.

The decline in mortgage rates is closely aligned with the recent drop in Treasury yields, as investors anticipate a more gradual approach from the Federal Reserve in lowering its benchmark rate.

There is a growing expectation that the Fed may enact a third consecutive reduction in borrowing costs at the upcoming meeting scheduled for December 17-18. Despite this, several Fed policymakers have indicated they are maintaining a flexible stance.

Amidst these changes, the MBA noted that the measure of refinancing has decreased for the ninth time in the past ten weeks, hitting its lowest point since May.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

This post appeared first on investing.com

Previous Post

Exclusive: BCA CEO says demand for research will increase in Trump 2.0

Next Post

AI to continue boosting US stocks next year, BlackRock says

admin

admin

Next Post
AI to continue boosting US stocks next year, BlackRock says

AI to continue boosting US stocks next year, BlackRock says

Trending News

How Australia is gaining advantage in beef market amid US-China trade war

How Australia is gaining advantage in beef market amid US-China trade war

April 8, 2025
Swiss president says deal with EU possible this year despite immigration hurdle

Swiss president says deal with EU possible this year despite immigration hurdle

October 28, 2024
Emirati billionaire and Trump ally sees more Gulf investments into US under new president

Emirati billionaire and Trump ally sees more Gulf investments into US under new president

January 10, 2025
Subscribe to Insightful Word


    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025
    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    August 7, 2025
    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    Goldman Sachs boosts Nvidia price target to $200 ahead of Q2 earnings

    August 7, 2025

    Recent News

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    Dow futures soar 250 points today: 5 things to know before Wall Street opens

    August 7, 2025
    Affirm stock price is rising: is it a buy before earnings?

    Affirm stock price is rising: is it a buy before earnings?

    August 7, 2025

    Latest News

    • Dow futures soar 250 points today: 5 things to know before Wall Street opens
    • Affirm stock price is rising: is it a buy before earnings?
    • Intel stock plunges sharply after Trump calls on CEO to resign: here’s why rebound may take time

    About Insightful Word

    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools
    • Contacts
    • Cookie Notice
    • Privacy Policy
    • Terms of Service
    • Trading tools

    Copyright © 2025 Insightfulword.com. All Rights Reserved.

    No Result
    View All Result
    • Investing
    • Stock
    • Economy
    • Politics

    Copyright © 2025 Insightfulword.com. All Rights Reserved.