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Mortgages

What home and commercial lending costs this week, and why the number moved.

Mortgages

Mortgage Rates Climb to 7.47 percent for a 30-year fixed loan

National Mortgage Rates just climbed to 7.47 percent. Home buyers face the highest Rates since November 2023. Fannie Mae now forecasts Rates near 7.50 percent for all of 2027. Borrowers who skip shopping around can pay 78,000 dollars extra over the loan.

Today

Mortgage rates will stay above 6 percent through 2031 in new five-year forecast

Mortgage rates stay above 6 percent through 2031 according to a new five-year forecast. Michael Wolf, a global economist at Deloitte Touche Tohmatsu Ltd., outlines rising Treasury yields. The 30-year fixed rate hit 7.40 percent recently.

11:23am ET

Tuesday, October 20

National 30-year Mortgage rates hold steady at 7.46 percent according to Bankrate

National 30-year Mortgage rates hold steady at 7.46 percent. Bankrate, the financial services company, reported the flat numbers on Monday. Shorter 15-year fixed loans sit at an average of 6.82 percent.

10:42am ET

IMF Director Krishna Srinivasan Says China Must Fix Housing Market

Krishna Srinivasan, a director at the International Monetary Fund, an organization that helps global economies, says fixing the housing market is the main key to getting people to spend again. He notes that there has been a massive drop in the value of people's assets like homes.

7:51am ETVideo
Aerial view of a suburban neighborhood of single-family homes

Monday, October 19

Bank of America projects 2027 mortgage volume at $1.72 trillion

Bank of America projects 2027 US mortgage originations at $1.72 trillion. Refinances will make up just $344 billion of that total. Analysts warn high rates and fading demand will create a tough market. This outlook sits well below other major industry forecasts for the year.

4:28pm ET

Friday, October 16

Fannie Mae slashes 2027 mortgage forecast to $1.86 trillion amid higher rates

Fannie Mae cut its 2027 mortgage forecast by eighteen percent. Thirty-year rates are projected to average seven and a half percent. Refinance volume takes the biggest hit in the new outlook. Purchase originations will stay flat as the market remains tight.

1:15pm ET
A blue craftsman house with a white front porch on a tree-lined lot

Tuesday, October 13

Homeowners have used only 2% of their home equity

Homeowners in New York, California, and Washington State are sitting on massive amounts of home equity. CoreLogic Chief Economist Selma Hepp says many people are investing in their properties because they cannot easily move elsewhere.

11:20am ETVideo
A large white colonial house with a wraparound porch and green lawn

Tuesday, October 6

Wealthfront expands mortgage to Washington

They offer mortgages in 4 states now. Washington is the new state. Rates are 50 basis points below the national average.

3:00pm ET
Keys hanging from the lock of a front door

Mortgage tech provider Polly launches PollyOS for pricing and trading

Polly is a mortgage capital markets technology provider. On Tuesday, the company launched PollyOS to combine pricing and trading. Lenders can now track loan margins in real time.

11:12am ET
A newly built single-family house with a driveway and lawn

Wednesday, September 23

Two mortgage forecasters, $177 billion apart on 2027

The Mortgage Bankers Association and Fannie Mae both cut their lending forecasts, four days apart, and they disagree about 2027.

10:34am ET
Rustic suburban rooftops overlook lush forest and distant ocean horizon.

Tuesday, September 22

The mortgage number moved, and the credit line moved faster

The Fed moved a quarter point, prime moved the next morning, and daily lender quotes were already above 7% before either.

9:00am ET
Aerial shot of a circular neighborhood in Fort Mill, SC, showcasing fall foliage and suburban layout.