{"id":2091,"date":"2017-03-17T00:00:00","date_gmt":"2017-03-17T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/borrowers-face-higher-mortgage-rates\/"},"modified":"2017-03-17T00:00:00","modified_gmt":"2017-03-17T00:00:00","slug":"borrowers-face-higher-mortgage-rates","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/borrowers-face-higher-mortgage-rates\/","title":{"rendered":"Borrowers Face Higher Mortgage Rates"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"36.251221214236\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"19.595254710398\"><!--paging_filter--><\/p>\n<p>For the second consecutive week, <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> rates were on the rise. &#8220;As expected, the [Federal Reserve&#8217;s Federal Open Market Committee] announced its first rate hike of 2017\u00a0and hinted at additional increases throughout the remainder of the year,&#8221; says Sean Becketti, Freddie Mac&#8217;s chief economist. &#8220;Although our survey was conducted prior to the Fed&#8217;s decision, the release of the February jobs report all but guaranteed a rate hike and boosted the 30-year mortgage rate 9 basis points to 4.30 percent this week. Increasing inflation, continued gains in the labor market and the Fed&#8217;s intentions for further rate increases\u2014all three will keep pushing mortgage rates up this year.&#8221;<\/p>\n<blockquote readability=\"2.9545454545455\">\n<p>Fed Votes to Raise Rates: The <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">Housing<\/a> Impact<\/p>\n<\/blockquote>\n<p>Freddie Mac reports the following national averages with mortgage rates for the week ending March 16:<\/p>\n<ul>\n<li><strong>30-year fixed-rate mortgages <\/strong>averaged 4.30 percent, with an average 0.5 point, rising from last week\u2019s 4.21 percent average. A year ago, 30-year rates averaged 3.73 percent.<\/li>\n<li><strong>15-year fixed-rate mortgages<\/strong> averaged 3.50 percent, with an average 0.5 point, increasing from last week\u2019s 3.42 percent average. Last year at this time, 15-year fixed-rate mortgages averaged 2.99 percent.<\/li>\n<li><strong>5-year hybrid adjustable-rate mortgages <\/strong>averaged 3.28 percent, with an average 0.4 point, increasing from last week\u2019s 3.23 percent average. Last year at this time, 5-year ARMs averaged 2.93 percent.<\/li>\n<\/ul>\n<p><em>Source: Freddie Mac<\/em><\/p>\n<\/div>\n<\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/TlLCEMmokN0\/borrowers-face-higher-mortgage-rates\"> link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>For the second consecutive week, mortgage rates were on the rise. &#8220;As expected, the [Federal Reserve&#8217;s &hellip; <a title=\"Borrowers Face Higher Mortgage Rates\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/borrowers-face-higher-mortgage-rates\/\"><span class=\"screen-reader-text\">Borrowers Face Higher Mortgage Rates<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":2092,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[408,1295,312,41,818],"class_list":["post-2091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-mortgage","tag-mortgage-rate","tag-mortgages","tag-property","tag-real"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":2037,"url":"https:\/\/amazingproperty.com.ng\/blog\/fed-votes-to-raise-rates-the-housing-impact\/","url_meta":{"origin":2091,"position":0},"title":"Fed Votes to Raise Rates: The Housing Impact","author":"Amazing Property","date":"March 16, 2017","format":false,"excerpt":"The Federal Reserve is picking up the pace, voting on Wednesday to raise its key interest rate just three months after its last rate hike. The Fed announced that short-term interest rates will increase by one-quarter of a percentage point and suggested that two similar increases likely will occur later\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":621,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-rates-take-a-breather-this-week\/","url_meta":{"origin":2091,"position":1},"title":"Mortgage Rates Take a Breather This Week","author":"Amazing Property","date":"February 3, 2017","format":false,"excerpt":"[ad_1] Mortgage rates barely budged this week compared to the previous week, as the 30-year fixed-rate mortgage held its 4.19 percent average, Freddie Mac reports. \"The 10-year Treasury yield fell 5 basis points this week following a tepid advance estimate of fourth-quarter GDP and the Fed's decision to leave rates\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8910,"url":"https:\/\/amazingproperty.com.ng\/blog\/era-of-super-low-mortgage-rates-is-over\/","url_meta":{"origin":2091,"position":2},"title":"\u2018Era of Super-Low Mortgage Rates Is Over\u2019","author":"Amazing Property","date":"September 27, 2018","format":false,"excerpt":"\u2018Era of Super-Low Mortgage Rates Is Over\u2019 | Realtor Magazine \r \r Internet Explorer does not currently support REALTOR\u00ae Magazine search. IE users, please download Firefox, Chrome, or Edge. The Federal Reserve on Wednesday voted to raise its benchmark interest rate by a quarter of a point to the highest\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"mortgage rates","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/09\/09_27_18_Mortgage_Rates_Feature.jpg?fit=586%2C330&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/09\/09_27_18_Mortgage_Rates_Feature.jpg?fit=586%2C330&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/09\/09_27_18_Mortgage_Rates_Feature.jpg?fit=586%2C330&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5406,"url":"https:\/\/amazingproperty.com.ng\/blog\/after-brief-hike-mortgage-rates-fall-below-4\/","url_meta":{"origin":2091,"position":3},"title":"After Brief Hike, Mortgage Rates Fall Below 4%","author":"Amazing Property","date":"July 21, 2017","format":false,"excerpt":"Following two weeks of rate increases, the 30-year fixed-rate mortgage settled back below a 4 percent average this week.\u00a0 \u201cContinued economic uncertainty and weak inflation data pushed rates lower this week,\u201d says Sean Becketti, Freddie Mac\u2019s chief economist.\u00a0\u201cThe 10-year Treasury yield fell 5 basis points this week. The 30-year mortgage\u2026","rel":"","context":"In &quot;Property buyer&quot;","block_context":{"text":"Property buyer","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/property-buyer\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/rates072117R.png?fit=620%2C252&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/rates072117R.png?fit=620%2C252&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/rates072117R.png?fit=620%2C252&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":7478,"url":"https:\/\/amazingproperty.com.ng\/blog\/despite-fed-move-mortgage-rates-hold-steady\/","url_meta":{"origin":2091,"position":4},"title":"Despite Fed Move, Mortgage Rates Hold Steady","author":"Amazing Property","date":"December 15, 2017","format":false,"excerpt":"Mortgage rates were in a holding pattern this week, even after the Federal Reserve voted Wednesday to hike its benchmark interest rate. \u201cAs widely expected, the Fed increased the federal funds target rate this week for the third time in 2017,\u201d says Len Kiefer, Freddie Mac\u2019s deputy chief economist. \u201cThe\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Rates121417.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/rates121417.png?fit=620%2C252&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/rates121417.png?fit=620%2C252&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/rates121417.png?fit=620%2C252&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":4173,"url":"https:\/\/amazingproperty.com.ng\/blog\/interest-rates-dodge-another-close-call\/","url_meta":{"origin":2091,"position":5},"title":"Interest Rates Dodge Another Close Call","author":"Amazing Property","date":"May 4, 2017","format":false,"excerpt":"The Federal Reserve voted Wednesday to leave its benchmark interest rate alone, citing signs of a slowing economy between the January-to-March quarter. The benchmark rate will stay low, near 1 percent. However, the Fed cautions that it expects that a strengthening economy and job market in the coming months will\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/TlLCEMmokN0","_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2091","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=2091"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/2091\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/2092"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=2091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=2091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=2091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}