Tuesday, September 26, 2023
  • Login
CEO North America
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel
No Result
View All Result
CEO North America
No Result
View All Result

Mortgage Rates Hit 5% for First Time Since 2011

in News
Mortgage rates hit 5% for first time since 2011
Share on LinkedinShare on WhatsApp

Mortgage rates rose above 5% for the first time in more than a decade. The 30-year fixed-rate mortgage, the most popular home loan product, hit the threshold just five weeks after breaking the 4% barrier, according to Freddie Mac. The average has not been this high since February 2011.

Now, with a loan of $400,000, for example, a 3.125% fixed-rate 30-year loan would cost $1,714 per month. This month, the same loan at 5.125% will cost $2,178 per month.

The increase comes as the Federal Reserve has launched a major plan to fight the highest inflation in 40 years. Fed officials expect that higher interest rates will control both inflation and the job market.

After the increase, the Mortgage Bankers Association is forecasting a slow market. “The jump in mortgage rates will slow the housing market and further reduce refinance demand the rest of this year,” the association’s chief economist Mike Fratantoni said in a statement. “Higher home prices and rates as well as ongoing supply constraints are now expected to lead to an annual decline in existing home sales.”

Just last January, the 30-year fixed average was at 3.22 percent. Now, at 5% the rate rose more quickly than many economists predicted.

Tags: Federal ReserveMortgage Bankers AssociationMortgage Rates

Related Posts

Credit card companies continue racking up losses
Industry

Credit card companies continue racking up losses

Federal reserve to lay off hundreds of workers
Innovation

Federal Reserve to lay off hundreds of workers

Mcdonalds hikes up franchising royalty fees
Business

McDonalds hikes up franchising royalty fees

Hollywood studios reaches tentative deal with  wga
Industry

Hollywood studios reaches tentative deal with WGA

Philip morris weighs selling stakes in pharmaceutical sector
Business

Philip Morris weighs selling stakes in pharmaceutical sector

Treasury yield hits 15-year high
Industry

Treasury yield hits 15-year high

Cisco to acquire splunk for $28 billion
Business

Cisco to acquire Splunk for $28 billion

Rupert murdoch resigns as head of fox news and news corp.
Management & Leadership

Rupert Murdoch resigns as head of Fox News and News Corp.

Us brings back free at-home covid tests
Innovation

US brings back free at-home Covid tests

Instacart loses ipo gains during second trading day
Business

Instacart loses IPO gains during second trading day

No Result
View All Result

Recent Posts

  • Usher tapped for Super Bowl halftime show
  • 67 countries sign UN ocean treaty
  • Amazon to implement ads on streaming service
  • Walmart sets sights on pet industry
  • Credit card companies continue racking up losses

Recent Comments

  • Juul Unveils Cutting-Edge Vaping Tech: Navigating FDA Uncertainties – iStreetPark Blog on Juul hopes FDA won’t ban its new high-tech vape
  • CEO North America, August - September 2023 - CEO North America on Interviews – CEO North America, October – November 2022
  • CEO North America, August - September 2023 - CEO North America on CEO North America, December 2022 – January 2023
  • CEO North America, August - September 2023 - CEO North America on Why Tech Companies Are Moving to Texas and Florida
  • CEO North America, August - September 2023 - CEO North America on CEO North America, February 2023 – March 2023

Archives

Categories

  • Art & Culture
  • Business
  • CEO Interviews
  • CEO Life
  • Editor´s Choice
  • Entrepreneur
  • Environment
  • Food
  • Health
  • Highlights
  • Industry
  • Innovation
  • Issues
  • Management & Leadership
  • News
  • Opinion
  • PrimeZone
  • Printed Version
  • Technology
  • Travel
  • Uncategorized

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials – stuart.james@ceo-na.com

Advertising – media@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

 

MEXICO CITY

Paseo de la Reforma 296,
Floor 38
Mexico City
06600
MEXICO

HOUSTON

1201 Fannin St.
Suite 262
Houston, TX
77002
USA

  • CONTACT
  • GENERAL ENQUIRIES
  • ADVERTISING
  • MEDIA KIT
  • DIRECTORY
  • TERMS AND CONDITIONS

Editorials –
stuart.james@ceo-na.com

Advertising –
media@ceo-na.com

NEW YORK

110 Wall St.,
3rd Floor
New York, NY.
10005
USA
+1 212 432 5800

MEXICO CITY

Paseo de la Reforma 296,
Floor 38
Mexico City
06600
MEXICO

HOUSTON

1201 Fannin St.
Suite 262
Houston, TX
77002
USA

CEO North America © 2022 - Sitemap

No Result
View All Result
  • Home
  • News
    • Business
    • Entrepreneur
    • Industry
    • Innovation
    • Management & Leadership
  • CEO Interviews
  • Opinion
  • Technology
  • Environment
  • CEO Life
    • Art & Culture
    • Food
    • Health
    • Travel

© 2023 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In