Long-term mortgage rates see largest weekly decline since mid-September
Mortgage Rate Decline: Long-term mortgage rates have experienced their largest weekly drop in six months, with 30-year fixed-rate mortgages averaging 6.63% and 15-year fixed-rate mortgages at 5.79%, encouraging higher refinancing activities.
Increased Purchasing Power: The decrease in mortgage rates is enhancing homebuyers' purchasing power and has led to a surge in refinancing applications, which reached nearly 44%, the highest since mid-December.
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Mortgage rates barely changed, continues to stay under 7%
Current Mortgage Rates: Mortgage rates remain stable, with 30-year fixed-rate mortgages averaging 6.67% and 15-year fixed-rate mortgages at 5.83%, both lower than the previous year.
Impact of Federal Reserve Decisions: The Federal Reserve's decision to keep interest rates unchanged has contributed to the sustained mortgage rates under 7%, benefiting potential home buyers and sellers.
Mortgage rates 'essentially flat' from last week despite market volatility
Current Mortgage Rates: Mortgage rates have remained stable, with 30-year fixed-rate mortgages averaging 6.65% and 15-year fixed-rate mortgages at 5.80%, showing slight increases from the previous week but decreases compared to last year.
Market Response: The combination of lower mortgage rates and improved inventory has led to a 5% increase in purchase applications year-over-year, indicating positive trends for homebuyers during the spring season.
Long-term mortgage rates see largest weekly decline since mid-September
Mortgage Rate Decline: Long-term mortgage rates have experienced their largest weekly drop in six months, with 30-year fixed-rate mortgages averaging 6.63% and 15-year fixed-rate mortgages at 5.79%, encouraging higher refinancing activities.
Increased Purchasing Power: The decrease in mortgage rates is enhancing homebuyers' purchasing power and has led to a surge in refinancing applications, which reached nearly 44%, the highest since mid-December.
Mortgage rates hit a two-month low
Mortgage Rate Trends: Mortgage rates have decreased to their lowest level in over two months, with 30-year fixed-rate mortgages averaging 6.76% and 15-year fixed-rate mortgages at 5.94%.
Market Implications: The decline in mortgage rates, along with improving inventory, is seen as a positive development for homebuyers, despite ongoing challenges such as rising home prices and falling mortgage applications.
SPDR Portfolio Mortgage Backed Bond (SPMB) Shares Cross Above 200 DMA
SPMB Stock Performance: SPMB's stock has a 52-week low of $20.92 and a high of $22.7563, with the last trade recorded at $21.95.
Market Insights: The article mentions other ETFs that have recently crossed above their 200-day moving average, indicating potential market trends.
SPMB Crowded With Sellers
SPDR Portfolio Mortgage Backed Bond Analysis: The RSI for SPDR Portfolio Mortgage Backed Bond (SPMB) is at 28.3, indicating potential exhaustion of recent selling, while the S&P 500's RSI stands at 49.6.
Performance Overview: SPMB's share price is currently $21.68, within a 52-week range of $20.5899 to $22.7563, and it has seen a slight decline of about 0.3% on the day.
Mortgage rates barely changed, continues to stay under 7%
Current Mortgage Rates: Mortgage rates remain stable, with 30-year fixed-rate mortgages averaging 6.67% and 15-year fixed-rate mortgages at 5.83%, both lower than the previous year.
Impact of Federal Reserve Decisions: The Federal Reserve's decision to keep interest rates unchanged has contributed to the sustained mortgage rates under 7%, benefiting potential home buyers and sellers.
Mortgage rates 'essentially flat' from last week despite market volatility
Current Mortgage Rates: Mortgage rates have remained stable, with 30-year fixed-rate mortgages averaging 6.65% and 15-year fixed-rate mortgages at 5.80%, showing slight increases from the previous week but decreases compared to last year.
Market Response: The combination of lower mortgage rates and improved inventory has led to a 5% increase in purchase applications year-over-year, indicating positive trends for homebuyers during the spring season.
Long-term mortgage rates see largest weekly decline since mid-September
Mortgage Rate Decline: Long-term mortgage rates have experienced their largest weekly drop in six months, with 30-year fixed-rate mortgages averaging 6.63% and 15-year fixed-rate mortgages at 5.79%, encouraging higher refinancing activities.
Increased Purchasing Power: The decrease in mortgage rates is enhancing homebuyers' purchasing power and has led to a surge in refinancing applications, which reached nearly 44%, the highest since mid-December.
Mortgage rates hit a two-month low
Mortgage Rate Trends: Mortgage rates have decreased to their lowest level in over two months, with 30-year fixed-rate mortgages averaging 6.76% and 15-year fixed-rate mortgages at 5.94%.
Market Implications: The decline in mortgage rates, along with improving inventory, is seen as a positive development for homebuyers, despite ongoing challenges such as rising home prices and falling mortgage applications.
SPDR Portfolio Mortgage Backed Bond (SPMB) Shares Cross Above 200 DMA
SPMB Stock Performance: SPMB's stock has a 52-week low of $20.92 and a high of $22.7563, with the last trade recorded at $21.95.
Market Insights: The article mentions other ETFs that have recently crossed above their 200-day moving average, indicating potential market trends.
SPMB Crowded With Sellers
SPDR Portfolio Mortgage Backed Bond Analysis: The RSI for SPDR Portfolio Mortgage Backed Bond (SPMB) is at 28.3, indicating potential exhaustion of recent selling, while the S&P 500's RSI stands at 49.6.
Performance Overview: SPMB's share price is currently $21.68, within a 52-week range of $20.5899 to $22.7563, and it has seen a slight decline of about 0.3% on the day.
