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While the average rate of a 30-year mortgage has increased by 7 basis points over the last week to reach 3.56%, it remains at 15 basis points from a trough of three / six years and down 138 basis points (1.38 percentage points or about 28%). ) since the fourth quarter of last year.
At the same time, while the average rate of a 15-year fixed rate mortgage increased by 9 basis points to 3.09%, it remains 99 basis points lower than the same period in the previous year. last year, and adjustable year rose 6 basis points over last week to reach 3.36%, but it remains at 57 basis points below its mark in the same period the previous year.
Regarding the likelihood of the Fed easing its rates for the second time this year, the probability is now around 97%, according to a futures analysis.
And despite the fact that they have benefited from a significant reduction in mortgages compared to the same period last year, the sales of homes waiting in San Francisco are really down.
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