{"id":2812,"date":"2022-06-03T04:49:44","date_gmt":"2022-06-03T04:49:44","guid":{"rendered":"https:\/\/imsfund.com\/?p=2812"},"modified":"2022-06-03T04:49:44","modified_gmt":"2022-06-03T04:49:44","slug":"mortgage-rates-rise-sharply-after-three-weeks-of-easing","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2022\/06\/03\/mortgage-rates-rise-sharply-after-three-weeks-of-easing\/","title":{"rendered":"Mortgage rates rise sharply after three weeks of easing"},"content":{"rendered":"


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A “For Sale” sign outside a house in Crockett, California, on Tuesday, May 31, 2022.<\/p>\n

David Paul Morris | Bloomberg | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

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Mortgage rates rose sharply this week, after pulling back over the last three weeks.<\/p>\n

The 30-year fixed hit 5.36% Monday and then moved higher again Tuesday to 5.47%, according to Mortgage News Daily<\/a>. Volatility in global markets Monday sent bond yields higher. Mortgage rates follow loosely the yield on the 10-year U.S. Treasury.<\/p>\n

The average rate on the popular 30-year fixed loan ended last week at 5.25%. The average rate on the popular 30-year fixed loan ended last week at 5.25%. The last high, three weeks ago, was 5.67%, but the rate dropped as the stock market sold off and bond yields fell.<\/p>\n<\/div>\n

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The jump Tuesday was likely due to data released from the U.S. Manufacturing Index.<\/p>\n

“The uptick in the manufacturing index suggests the economy isn’t slamming on the brakes very quickly,” wrote Matthew Graham, COO of Mortgage News Daily on the site.<\/p>\n

Mortgage rates, which are much higher than they were at the beginning of the year, have slammed the brakes on the red-hot housing market over the past few weeks. Realtors are reporting lower sales<\/a>, and mortgage demand to purchase a home<\/a> is also dropping. \u00a0<\/p>\n

While both home sales and mortgage demand are falling, home prices are still rising fast<\/a>. Prices usually lag sales by about six months, but the rare dynamics in the market today \u2013 strong demand and very low supply \u2013 are still keeping prices high.<\/p>\n

The National Association of Realtors’ chief economist, Lawrence Yun, did say on CNBC’s Power Lunch Monday, “It’s just inevitable that home price appreciation will slow down in the upcoming months.”<\/p>\n<\/div>\n<\/div>\n


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A “For Sale” sign outside a house in Crockett, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates rose sharply this week, after pulling back over the last three weeks. The 30-year fixed hit 5.36% Monday and then moved higher again Tuesday to 5.47%, according to Mortgage News […]<\/p>\n","protected":false},"author":5,"featured_media":2813,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"fifu_image_url":"https:\/\/image.cnbcfm.com\/api\/v1\/image\/107069717-1654096253511-gettyimages-1241032474-US_HOUSING_MARET.jpeg?v=1654096314&w=1920&h=1080","fifu_image_alt":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-2812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/2812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/comments?post=2812"}],"version-history":[{"count":0,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/posts\/2812\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media\/2813"}],"wp:attachment":[{"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/media?parent=2812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/categories?post=2812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imsfund.com\/index.php\/wp-json\/wp\/v2\/tags?post=2812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}