Homebuilders Gain as Mortgage Rates Fall to Two-Year Low

 · New Home Sales Decline in May By Robert Dietz on June 25, 2019 (). Contracts for new, single-family home sales declined to a 626,000 seasonally adjusted annual rate in May according to estimates from the joint release of HUD and the Census Bureau. This was a surprising drop due to recent softening of mortgage interest rates and continued low unemployment.

The 15-year fixed-rate mortgage during the week averaged 3.28%, down 18 bps from 3.46% in the prior week, while five-year adjustable-rate mortgage declined 8 bps to 3.52%.

Yet the rise in prices combined with rapidly increasing mortgage rates over the past couple of years made housing far. The SPDR S&P Homebuilders ETF. Mortgage rates fall to a 1-year low ;

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 · Mortgage rates are the lowest they’ve been in some time. If you’re in the market, it’s a really good time to lock your rate. Last week, the rate on a 30-year fixed mortgage according to Freddie Mac averaged 4.28% with 0.4 points paid in fees, down.

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driving a two-year downward trend in the share of consumers who think it’s a good time to buy a home," said Doug Duncan, senior vice president and chief economist at Fannie Mae. "The current low.

Ottawa mortgage rates fall to 2 year low as fixed mortgage rates and variable mortgage rates in Ottawa have become more favourable. This due to the cost for lenders is currently being lower. Despite the prices of homes being quite high in Ottawa and the rest of Canada, this is being offset a little with the fact that Canadians are able to.

 · Throughout each day, mortgage rates fall when MBS prices rise, and mortgage rates rise when MBS prices fall. Mortgage rates rose as investors sold MBS ahead of the december 16 fed meeting. It was widely expected the Fed would hike the short-term Fed Funds Rate, but without knowing how the Fed might position 2016 rate policy overall, MBS.

The dollar also appeared to get a boost from the data, and rose to two-year highs vs. strong headwind from low rates.

That means the same scenario could see a rate as low as 3.75% at one lender and 4.125% at another with the same closing costs. It continues to be the case that Thursday’s events have the biggest.