{"id":290433,"date":"2021-07-03T22:48:00","date_gmt":"2021-07-03T19:48:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/mortgage-rates-retreat-below-3-as-housing-affordability-becomes-a-bigger-concern\/"},"modified":"2021-07-03T22:48:00","modified_gmt":"2021-07-03T19:48:00","slug":"mortgage-rates-retreat-below-3-as-housing-affordability-becomes-a-bigger-concern","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/mortgage-rates-retreat-below-3-as-housing-affordability-becomes-a-bigger-concern\/","title":{"rendered":"#: Mortgage rates retreat below 3% as housing affordability becomes a bigger concern"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4217d428edf\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4217d428edf\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/mortgage-rates-retreat-below-3-as-housing-affordability-becomes-a-bigger-concern\/#Falling_mortgage_rates_are_another_sign_that_investors_view_the_current_spate_of_inflation_to_be_temporary\" >Falling mortgage rates are another sign that investors view the current spate of inflation to be temporary<\/a><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><ul class='ez-toc-list-level-4' ><li class='ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/mortgage-rates-retreat-below-3-as-housing-affordability-becomes-a-bigger-concern\/#Jacob_Passy\" >Jacob Passy<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#: Mortgage rates retreat below 3% as housing affordability becomes a bigger concern<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Falling_mortgage_rates_are_another_sign_that_investors_view_the_current_spate_of_inflation_to_be_temporary\"><\/span>\n  Falling mortgage rates are another sign that investors view the current spate of inflation to be temporary<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\" data-nosnippet>\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000323249\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div data-layout=\"\n                inline\" data-layout-mobile=\"\" class=\"\n          media-object\n          type-InsetArticleReader\n              \n              inline\n  article__inset\n          article__inset--type-InsetArticleReader\n              article__inset--inline\n  \"><\/p>\n<div class=\"media-object-article-reader\">\n<div class=\"audioplayer\" data-sbid=\"WP-MKTW-0000323249\" role=\"region\" aria-label=\"Listen to Article\" tabindex=\"-1\" id=\"articlereader\" data-show-title=\"false\" data-theme=\"wsj-article-reader\" data-show-header=\"false\" data-show-subscribe=\"false\" data-ads-enabled=\"true\" data-save-publication=\"false\">\n        <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       Benchmark mortgage rates dipped below 3%, moving downward in tandem with long-term bond yields. But the latest downturn in mortgage rates isn\u2019t likely to spur more real-estate activity.<\/p>\n<p> The 30-year fixed-rate mortgage averaged 2.98% for the week ending July 1, down four basis points from the previous week, Freddie Mac<br \/>\n        FMCC,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/202741363\/delayed\" class=\"positive\">+1.11%<\/bg-quote><br \/>\n       <a rel=\"nofollow noopener\" target=\"_blank\" href=\"http:\/\/www.freddiemac.com\/pmms\/\" class=\"icon none\">reported Thursday<\/a>. Last week, the 30-year loan jumped above 3% for the first time since late April, reflecting the bond market\u2019s sentiment that the Federal Reserve may hike interest rates sooner than previously expected.<\/p>\n<div class=\"paywall\">\n       The 15-year fixed-rate mortgage dropped eight basis points to an average of 2.26%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage rose by one basis point to an average of 2.54%.<\/p>\n<p>\u201cDespite more inflationary pressures and strong economic data releases,\u00a0mortgage\u00a0rates\u00a0fell this week,\u201d said Matthew Speakman, an economist with Zillow<br \/>\n        Z,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/204413973\/composite\" class=\"negative\">-2.72%<\/bg-quote><br \/>\n        ZG,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.00%\" channel=\"\/zigman2\/quotes\/205077794\/composite\" class=\"negative\">-2.86%<\/bg-quote><span>.<\/span><br \/>\n       It\u2019s the latest signal, he said, that \u201cinvestors are buying into the idea that rising price pressures are transitory, and more accurate readings on inflation will come only after supply chain restrictions ease.\u201d<\/p>\n<p>The Federal Reserve has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly maintained the view that the breakneck pace of inflation the U.S. economy is seeing is a reflection of the economy\u2019s reopening from the pandemic. Some economists disagree with that view, though, arguing that rising prices could be here to stay for longer than the central bank is anticipating, including in housing.<\/p>\n<p>Mortgage rates roughly track the direction of long-term bond yields, including the yield on the 10-year Treasury<br \/>\n        TMUBMUSD10Y,<br \/>\n        <bg-quote field=\"percentchange\" format=\"0,000.000%\" channel=\"\" class=\"\">1.436%<\/bg-quote><span>,<\/span><br \/>\n       which have retreated since they soared back in March. The movement in the bond markets, some analysts said, also reflect concerns that if the Fed does act to wind down fiscal stimulus before the economy and job market have fully recovered the pain could be longer-lasting.<\/p>\n<p>Either way, falling mortgage rates may not give the housing market the same lift they once did. Last month\u2019s pending home sales figures far exceeded economists\u2019 expectations, which is a good sign for home sales figures in the months to come. However, other indicators suggest a rocky road for the U.S. housing market in the latter half of 2021.<\/p>\n<p>In particular, data from the Mortgage Bankers Association showed that mortgage <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lications have fallen, including for loans used to purchase homes. Low mortgage rates continue to support the housing demand that exists, but they aren\u2019t likely to spur more buyers to enter the market given the major shortage of properties for sale. Sellers may be coaxed into listing if they feel they could net a strong return on their investment, but affordability is set to be a bigger concern in the housing market in the months ahead.<\/p>\n<p>\u201cFor buyers planning to purchase a <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>n priced home, which is now $385,000, the monthly payment is $145 higher this year compared with June 2020, despite interest rates still hovering near historic lows,\u201d said George Ratiu, senior economist with Realtor.com.<\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Jacob Passy\",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Jacob_Passy\"><\/span>Jacob Passy<span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-74EE-B1067CA4C14B%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;#: Mortgage rates retreat below 3% as housing affordability becomes a bigger concern&#8221; Falling mortgage rates are another sign that investors view the current spate of inflation to be temporary Benchmark mortgage rates dipped below 3%, moving downward in tandem with long-term bond yields. But the latest downturn in mortgage rates isn\u2019t likely to spur&#8230;<\/p>\n","protected":false},"author":1,"featured_media":290434,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-290433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/290433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=290433"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/290433\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/290434"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=290433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=290433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=290433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}