{"id":8291,"date":"2018-02-16T00:00:00","date_gmt":"2018-02-16T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/climbing-mortgage-rates-reach-4-year-high\/"},"modified":"2018-02-16T00:00:00","modified_gmt":"2018-02-16T00:00:00","slug":"climbing-mortgage-rates-reach-4-year-high","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/climbing-mortgage-rates-reach-4-year-high\/","title":{"rendered":"Climbing Mortgage Rates Reach 4-Year High"},"content":{"rendered":"<p>\n<\/p>\n<div readability=\"41.205103359173\">\n<!--\n\n<pre>-->  <\/p>\n<div property=\"dc:description\" readability=\"27.801033591731\"><!--paging_filter--><\/p>\n<p><img data-recalc-dims=\"1\" decoding=\"async\" alt=\"\" src=\"https:\/\/i0.wp.com\/realtormag.realtor.org\/sites\/realtormag.realtor.org\/files\/rmo_files\/images\/2018_feb\/rates021618.png\" style=\"width: 620px; height: 253px;\"\/><\/p>\n<p><a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">Mortgage<\/a> rates continued to inch higher this week, marking the sixth consecutive week for borrowing cost increases for home shoppers.<\/p>\n<p>\u201cWednesday\u2019s Consumer Price Index report showed higher-than-expected inflation; headline consumer price inflation was 2.1 percent year-over-year in January, two-tenths of a percentage point higher than the consensus forecast,\u201d explains Len Kiefer, Freddie Mac\u2019s deputy chief economist. \u201cInflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary tightening later this year. Following this news, the 10-year Treasury reached its highest level since January 2014, climbing above 2.90 percent. Mortgage rates have also surged.\u201d<\/p>\n<p>After jumping 10 basis points last week, the 30-year fixed-rate mortgage rose 6 basis points to 4.38 percent, its highest level since April 2014.<\/p>\n<p>Freddie Mac reports the following national averages with mortgage rates for the week ending Feb. 15:<\/p>\n<ul>\n<li><strong>30-year fixed-rate mortgages:<\/strong> averaged 4.38 percent with an average 0.6 point, rising from last week\u2019s 4.32 percent average. Last year at this time, 30-year rates averaged 4.15 percent.<\/li>\n<li><strong>15-year fixed-rate mortgages:<\/strong> averaged 3.84 percent, with an average 0.5 point, increasing from last week\u2019s 3.77 percent average. A year ago, 15-year rates averaged 3.35 percent.<\/li>\n<li><strong>5-year hybrid adjustable-rate mortgages:<\/strong> averaged 3.63 percent, with an average 0.4 point, rising from last week\u2019s 3.57 percent average. A year ago, 5-year ARMs averaged 3.18 percent.<\/li>\n<\/ul>\n<p><em>Source: Freddie Mac<\/em><\/p>\n<\/div>\n<\/div>\n<p><a hre=\"http:\/\/feedproxy.google.com\/~r\/DailyRealEstateNews\/~3\/5jIEyDiKzlY\/climbing-mortgage-rates-reach-4-year-high\"> Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage rates continued to inch higher this week, marking the sixth consecutive week for borrowing cost &hellip; <a title=\"Climbing Mortgage Rates Reach 4-Year High\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/climbing-mortgage-rates-reach-4-year-high\/\"><span class=\"screen-reader-text\">Climbing Mortgage Rates Reach 4-Year High<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":8292,"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":[12908,543,408,1295,312,41,818,479],"class_list":["post-8291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-mortgage","tag-mortgage-rate","tag-mortgages","tag-property","tag-real","tag-realtor"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8393,"url":"https:\/\/amazingproperty.com.ng\/blog\/mortgage-rates-still-climbing-not-fading\/","url_meta":{"origin":8291,"position":0},"title":"Mortgage Rates Still Climbing, Not Fading","author":"Amazing Property","date":"February 23, 2018","format":false,"excerpt":"The 30-year fixed-rate mortgage shows little signs of stopping its gradual move upwards week to week. This marks the seventh consecutive week for higher mortgage rates, and rates continue to be at a four-year high. \u201cFixed mortgage rates increased for the seventh consecutive week, with the 30-year fixed mortgage rate\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":"Rates022218.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/rates022218.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\/2018\/02\/rates022218.png?fit=620%2C252&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/rates022218.png?fit=620%2C252&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8532,"url":"https:\/\/amazingproperty.com.ng\/blog\/another-week-of-mostly-flat-mortgage-rates\/","url_meta":{"origin":8291,"position":1},"title":"Another Week of Mostly Flat Mortgage Rates","author":"Amazing Property","date":"April 13, 2018","format":false,"excerpt":"\u00a0 \" Mortgage rates have been holding steady over the past two months \" says Deputy chief economist . Borrowing costs haven\u2019t budged much in recent weeks, offering some relief from the weekly amount increases that had almost become routine at the start of 2018. \u201cMortgage rates have been holding\u2026","rel":"","context":"In &quot;Mortgage&quot;","block_context":{"text":"Mortgage","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/mortgage\/"},"img":{"alt_text":"Mortgage rates","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/rates041318.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\/2018\/04\/rates041318.png?fit=620%2C252&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/04\/rates041318.png?fit=620%2C252&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":8371,"url":"https:\/\/amazingproperty.com.ng\/blog\/higher-rates-offset-loan-demand\/","url_meta":{"origin":8291,"position":2},"title":"Higher Rates Offset Loan Demand","author":"Amazing Property","date":"February 21, 2018","format":false,"excerpt":"Home buyers and homeowners may be getting spooked by higher mortgage rates. Mortgage applications for both home purchases and refinancings plummeted 6.6 percent last week on a seasonally adjusted basis compared to the previous week, the Mortgage Bankers Association reported Wednesday. Volume is now just 3.5 percent higher than a\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 Activity 022118.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/Mortgage_Activity_022118.png?fit=620%2C326&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":2037,"url":"https:\/\/amazingproperty.com.ng\/blog\/fed-votes-to-raise-rates-the-housing-impact\/","url_meta":{"origin":8291,"position":3},"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":5406,"url":"https:\/\/amazingproperty.com.ng\/blog\/after-brief-hike-mortgage-rates-fall-below-4\/","url_meta":{"origin":8291,"position":4},"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":8910,"url":"https:\/\/amazingproperty.com.ng\/blog\/era-of-super-low-mortgage-rates-is-over\/","url_meta":{"origin":8291,"position":5},"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":[]}],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/rates021618.png?fit=620%2C252&ssl=1","_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8291","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=8291"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/8291\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/8292"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=8291"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=8291"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=8291"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}