Affordability remains a challenge for buyers
- Mortgage rates rose slightly in the latest week
- 30-year fixed-rate mortgage averaged 6.66%
- 15-year mortgage averaged 5.87%
- Affordability remains a major headwind for buyers
- Homebuyer demand has increased
- Prices continue to rise faster than incomes
- Housing supply expected to rise in the spring
Mortgage rates inched higher in the latest week, with the 30-year fixed-rate mortgage averaging 6.66%. The 15-year mortgage averaged 5.87%. Despite the increase in rates, homebuyer demand continues to grow. However, affordability remains a major challenge for buyers as prices rise faster than incomes. The Mortgage Bankers’ Association anticipates renewed activity in the housing market heading into the spring, especially if housing supply continues to rise.
Public Companies: Freddie Mac (FMCC)
Private Companies: undefined, undefined
Key People: Sam Khater (Chief Economist at Freddie Mac), Bob Broeksmit (President and CEO of Mortgage Bankers’ Association)
Factuality Level: 7
Justification: The article provides specific data on mortgage rates from Freddie Mac and Mortgage News Daily. It includes quotes from experts and industry professionals. However, it lacks additional context or analysis to fully understand the implications of the data.
Noise Level: 3
Justification: The article provides relevant information about mortgage rates and their impact on home buyers. It includes data from Freddie Mac and Mortgage News Daily to support its claims. However, the article is short and lacks in-depth analysis or actionable insights.
Financial Relevance: Yes
Financial Markets Impacted: Mortgage rates
Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses mortgage rates and their impact on home buyers. There is no mention of an extreme event or any specific impact rating.
www.marketwatch.com 
