What are the Average Interest Rates for Fixed-Rate Mortgages Since the Great Recession? Keep in mind that mortgage lending is down, because there aren’t enough houses on the market to meet demand and the increase in rates does not help either since 2017. However, the decline in interest rates since the end of 2018, helps…
U.S. Housing Market – MBA Purchase Index Mortgage applications in the U.S. continue to decline due to a combination of high interest rates and elevated home prices, resulting in a 28-year low. Image: The Daily Shot
U.S. Fixed Rate CMBS Index Price Commercial mortgage-backed securities prices are currently at their lowest since October 2009. Image: BofA Global Investment Strategy
Housing Market – U.S. MBA Purchase Index Mortgage applications are on a downward trend as mortgage rates rise, which is a major factor in the slowdown in the U.S. housing market. Image: BofA Global Investment Strategy
U.S. Existing Home Sales High mortgage rates do not bode well for existing home sales in the United States. Image: BofA Global Research
Housing Market – U.S. Housing Starts U.S. housing starts drop in October amid rising mortgage rates. Image: The Daily Shot
Fed MBS Holdings and FHFA House Price Index Despite a strong U.S. housing market, the Federal Reserve continues to buy mortgage-backed securities (MBS). Image: BofA Global Investment Strategy
Delinquencies as % of Total Loans This chart shows the highest mortgage delinquency rate in nine years. Image: The Daily Shot
U.S. Housing Starts by Decade Currently, lower mortgage rates are boosting U.S. housing starts, but this decade will see the lowest number of housing units started in six decades.
U.S. Home Builder Sentiment – NAHB/Wells Fargo Housing Market Index Lower mortgage rates help the housing market and boost home builder sentiment. Image: Leonard Kiefer
Delinquency Rate of Student Loans since 2003 The delinquency rate of student loans is higher than credit card delinquency, auto loans and mortgages. The main reason is that the interest rate on student loans can be very high. Image: Federal Reserve Bank of New York