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Mortgage rates reach seven-year high in a housing market reckoning

By Patrick following x   2018 May 17, 5:27pm 679 views   2 comments   watch   nsfw   quote     share    


https://www.marketwatch.com/story/mortgage-rates-reach-seven-year-high-in-a-housing-market-reckoning-2018-05-17

Rates for home loans powered to the highest since 2011, setting up a fresh test for a housing market already strained by lean supply and surging prices.

The 30-year fixed-rate mortgage averaged 4.61% in the week ending May 17, mortgage finance provider Freddie Mac said Thursday. That was a 6 basis point jump, and marked the highest for the popular product since May, 2011. ...

“The prospect of rates approaching 5% could begin to hit the psyche of some prospective buyers,” Freddie Chief Economist Sam Khater said.
1   APOCALYPSEFUCKisShostikovitch   ignore (38)   2018 May 17, 6:52pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Plenty of PRC Army officers and drug dealers to pay cash.

Prices will double by tomorrow as normal
2   Strategist   ignore (2)   2018 May 17, 7:57pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Patrick says
Rates for home loans powered to the highest since 2011, setting up a fresh test for a housing market already strained by lean supply and surging prices.

The 30-year fixed-rate mortgage averaged 4.61% in the week ending May 17, mortgage finance provider Freddie Mac said Thursday. That was a 6 basis point jump, and marked the highest for the popular product since May, 2011. ...

“The prospect of rates approaching 5% could begin to hit the psyche of some prospective buyers,” Freddie Chief Economist Sam Khater said.


Probably at just about 5% if you were to lock in your rates now. Give it a few weeks and people get used to it. If they expect rates to immediately go higher, they will be even more desperate to find a home and lock in their rates.

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