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Mortgage Rates Fluctuate in May 8, 2023 Market

1 min read
Source: Investopedia
Mortgage Rates Fluctuate in May 8, 2023 Market
Photo: Investopedia
TL;DR

Mortgage rates rose on Friday, with jumbo 30-year rates climbing significantly to reach their highest level since early March. The 30-year fixed-rate average is now at 6.88%, while the 15-year fixed-rate average rose to 6.07%. Refinancing averages were also up, with the cost to refinance for 30 years currently 36 basis points more expensive than 30-year new purchase rates. The Federal Reserve's bond-buying policy and competition between mortgage lenders are among the factors that influence mortgage rates.

Topics:businessfinance#federal-reserve#finance#interest-rates#jumbo-loans#mortgage-rates#refinancing
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  1. Today's Mortgage Rates & Trends - May 8, 2023: Rates Rise  Investopedia
  2. Today's mortgage rates inch up, but 10- and 15-year terms stay below 6% | May 8, 2023  Fox Business
  3. Mortgage Rates for May 8, 2023: Rates Retreat  CNET
  4. Mortgage Rates Today: May 8, 2023—Rates Stay Low – Forbes Advisor  Forbes
  5. Current mortgage rates are down from this time last week  MarketWatch

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