{"id":13815,"date":"2025-04-20T05:49:43","date_gmt":"2025-04-20T05:49:43","guid":{"rendered":"https:\/\/finderica.com\/?p=13815"},"modified":"2025-04-20T05:49:43","modified_gmt":"2025-04-20T05:49:43","slug":"weekly-mortgage-rates-rise-at-exactly-the-wrong-time","status":"publish","type":"post","link":"https:\/\/finderica.com\/?p=13815","title":{"rendered":"Weekly Mortgage Rates Rise at Exactly the Wrong Time"},"content":{"rendered":"
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Mortgage rates picked a lousy time to go up.<\/span><\/p>\n<\/div>\n

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The average rate on a 30-year fixed-rate mortgage rose 11 basis points, to 6.97%, in the week ending April 17, according to rates provided to SS by Zillow. A basis point is one one-hundredth of a percentage point. This marked the highest interest rate for the 30-year mortgage since the week ending Jan. 16.<\/span><\/p>\n<\/div>\n

A good time to sell \u2014 usually<\/span><\/h2>\n
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The week of April 13 to 19 is typically the best time of the year to sell a house. That\u2019s when the market tends to have the ideal balance of conditions favoring home sellers, more so than any other week in the year, according to a data analysis by Realtor.com.<\/span><\/p>\n<\/div>\n

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Buyer interest is usually up this time of year, with 17.7% more views per online real estate listing than a typical week, according to the analysis.<\/span><\/p>\n<\/div>\n

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But with mortgage rates around 7%, how many of those online \u201clookie-loos\u201d are actually taking the next steps \u2014 like touring houses and making offers? More <\/span>home buyers<\/span> would take the plunge if mortgage rates were closer to 6% than 7%.<\/span><\/p>\n<\/div>\n

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(By the way, Realtor.com says the best week to sell varies by market \u2014 for example, March 9 in Denver, May 11 in Birmingham, Alabama \u2014 but in most places, it\u2019s April.)<\/span><\/p>\n<\/div>\n

More houses, maybe more bargains<\/span><\/h2>\n
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Buyers have more properties to choose from, with 30% more active real estate listings in the first week of April compared to a year before, according to Realtor.com. Listings are also lingering longer on the market. These <\/span>housing market conditions<\/span> favor buyers. And now comes the trend that makes life harder for buyers: Mortgage rates are rising, making houses less affordable.<\/span><\/p>\n<\/div>\n

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“Moreover, consumers are feeling anxious about the economy and the rising cost of living, potentially leading them to adopt a ‘wait and see’ approach regarding significant purchases like homes,” said Kara Ng, senior economist for Zillow Home Loans, in a news release.<\/span><\/p>\n<\/div>\n

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Buyers benefit when enough of them hang back. As houses take longer to sell, the inventory of for-sale houses rises. The increased supply gives buyers more negotiating power on prices, resulting in slower price growth.<\/span><\/p>\n<\/div>\n

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In a quarterly survey of housing experts conducted on behalf of Fannie Mae, the average forecast was for home prices to rise 3.4% in 2025. That’s down from a 5.8% rise in prices in 2024.<\/span><\/p>\n<\/div>\n

Fed rate cuts could be delayed<\/span><\/h2>\n
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The rise in mortgage rates can be traced to the announced tariff hikes, which are expected to increase both unemployment and <\/span>inflation<\/span>, according to Jerome Powell, chair of the <\/span>Federal Reserve<\/span>.<\/span><\/p>\n<\/div>\n

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Speaking Wednesday at the Economic Club of Chicago, Powell implied that the inflationary tariff policy could push the Fed to cut short-term rates later rather than sooner. That grim outlook, in turn, could keep mortgage rates elevated longer.<\/span><\/p>\n<\/div>\n<\/div>\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage rates picked a lousy time to go up. The average rate on a 30-year fixed-rate mortgage rose 11 basis points, to 6.97%, in the week ending April 17, according to rates provided to SS by Zillow. A basis point is one one-hundredth of a percentage point. This marked the highest interest rate for the<\/p>\n","protected":false},"author":1,"featured_media":13816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[195],"tags":[417,261,125,205,62,2138],"class_list":{"0":"post-13815","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-mortgage","9":"tag-rates","10":"tag-rise","11":"tag-time","12":"tag-weekly","13":"tag-wrong"},"_links":{"self":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/13815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13815"}],"version-history":[{"count":0,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/posts\/13815\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=\/wp\/v2\/media\/13816"}],"wp:attachment":[{"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/finderica.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}