Add news
March 2010
April 2010
May 2010June 2010July 2010
August 2010
September 2010October 2010
November 2010
December 2010
January 2011
February 2011March 2011April 2011May 2011June 2011July 2011August 2011September 2011October 2011November 2011December 2011January 2012February 2012March 2012April 2012May 2012June 2012July 2012August 2012September 2012October 2012November 2012December 2012January 2013February 2013March 2013April 2013May 2013June 2013July 2013August 2013September 2013October 2013November 2013December 2013January 2014February 2014March 2014April 2014May 2014June 2014July 2014August 2014September 2014October 2014November 2014December 2014January 2015February 2015March 2015April 2015May 2015June 2015July 2015August 2015September 2015October 2015November 2015December 2015January 2016February 2016March 2016April 2016May 2016June 2016July 2016August 2016September 2016October 2016November 2016December 2016January 2017February 2017March 2017April 2017May 2017June 2017July 2017August 2017September 2017October 2017November 2017December 2017January 2018February 2018March 2018April 2018May 2018June 2018July 2018August 2018September 2018October 2018November 2018December 2018January 2019February 2019March 2019April 2019May 2019June 2019July 2019August 2019September 2019October 2019November 2019December 2019January 2020February 2020March 2020April 2020May 2020June 2020July 2020August 2020September 2020October 2020November 2020December 2020January 2021February 2021March 2021April 2021May 2021June 2021July 2021August 2021September 2021October 2021November 2021December 2021January 2022February 2022March 2022April 2022May 2022June 2022July 2022August 2022September 2022October 2022
123
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
News Every Day |

Today's mortgage and refinance rates: September 21, 2022 | Rates up as another Fed hike looms

Insider's experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

Federal Reserve Chair Jerome Powell is set to announce another extra large rate hike this afternoon, and mortgage rates are elevated as a result.

Most investors expect the Fed to opt for a 75-basis-point hike to the federal funds rate, though a larger, 100-point hike is also possible. Mortgage rates aren't directly impacted by Fed increases, but they often move up or down based on how investors believe the Fed's actions will impact the broader economy.

The Fed has been raising rates to try to slow inflation, but so far prices have remained stubbornly high. As long as inflation remains elevated, the Fed will likely continue tightening monetary policy. This means borrowers can expect high mortgage rates for the foreseeable future.

"Based on current conditions and expectations, rates will not start going down until there is a consensus in economic data that indicates inflation is under control and the growth in the economy is at a manageable level," says Scott Haymore, head of mortgage pricing and secondary markets at TD Bank. "Looking at Fed funds futures forecast, that looks to be in the second half of 2023."

Mortgage rates today

Mortgage refinance rates today

Mortgage calculator

Use our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

By plugging in different term lengths and interest rates, you'll see how your monthly payment could change.

Are mortgage rates going up?

Mortgage rates started ticking up from historic lows in the second half of 2021 and have increased significantly so far in 2022. More recently, rates have been relatively volatile.

In the last 12 months, the Consumer Price Index rose by 8.3%. The Federal Reserve has been working to get inflation under control, and plans to increase the federal funds target rate three more times this year, following increases in March, May, June, and July.

Though not directly tied to the federal funds rate, mortgage rates are sometimes pushed up as a result of Fed rate hikes and investor expectations of how those hikes will impact the economy.

Inflation remains elevated, but has started to slow, which is a good sign for mortgage rates and the broader economy.

What do high rates mean for the housing market?

When mortgage rates go up, home shoppers' buying power decreases, as more of their anticipated housing budget has to go toward paying interest. If rates get high enough, buyers can get priced out of the market completely, which cools demand and puts downward pressure on home price growth.

However, that doesn't mean home prices will fall — in fact, they're expected to rise even more this year, just at a slower pace than what we've seen in the past couple of years.

Even with fewer buyers in the market, those who can afford to buy will still be competing over historically low inventory. When there are more buyers than there are houses available, home prices go up. So while conditions may loosen up a bit due to high rates, we aren't likely to see a significant drop in prices.

What is a good mortgage rate?

It can be hard to know if a lender is offering you a good rate, which is why it's so important to get preapproved with multiple mortgage lenders and compare each offer. Apply for preapproval with at least two or three lenders.

Your rate isn't the only thing that matters. Be sure to compare both what your monthly costs would be as well as your upfront costs, including any lender fees.

Even though mortgage rates are heavily influenced by economic factors that are out of your control, there are some things you can do to help ensure you get a good rate:

  • Consider fixed vs. adjustable rates. You may be able to get a lower introductory rate with an adjustable-rate mortgage, which can be good if you plan to move before the intro period ends. But a fixed rate could be better if you're buying a forever home because you won't risk your rate going up later. Look at the rates your lender offers and weigh your options.
  • Look at your finances. The stronger your financial situation, the lower your mortgage rate should be. Look for ways to boost your credit score or lower your debt-to-income ratio, if necessary. Saving for a higher down payment also helps.
  • Choose the right lender. Each lender charges different mortgage rates. Picking the right one for your financial situation will help you land a good rate.
Read the original article on Business Insider








Read also

Anish Giri, the Dragon Sicilian

NFL Rumors: Tua Tagovailoa To Be Interviewed As Part Of NFL Investigation

Panthers' Christian McCaffrey Likely to Suit Up vs. Cards


News, articles, comments, with a minute-by-minute update, now on Today24.pro

News Every Day

The most luxurious Mercedes!

Today24.pro — latest news 24/7. You can add your news instantly now — here


News Every Day

Tracking a Coyote after Chicken Coop Attack!



Sports today


Новости тенниса
WTA

Блинкова пробилась в основную сетку турнира WTA 500 в Остраве



Спорт в России и мире
Москва

Промес признан лучшим игроком матча «Пари НН» — «Спартак»


Загрузка...

All sports news today




Загрузка...

Sports in Russia today

Москва

Спортсмены Центрального округа Росгвардии завоевали золото на Всероссийской спартакиаде по летним видам спорта


Новости России

Game News

You can add Jedi Academy to the list of audacious VR ports


Russian.city


VIP

Уход за пожилыми людьми с болезнью Паркинсона в доме престарелых


Губернаторы России
#123ru.net

Компания MANGO OFFICE расширила географию присутствия на десять городов


Строительство Южно-Лыткаркинской автомобильной дороги – магистраль в будущее

В Москве задержали студента, угрожавшего своим однокурсникам

В НАТО испугались возможности запуска российской суперторпеды «Посейдон»

Мясникович призвал страны ЕАЭС перейти на ценообразование и расчеты в нацвалютах


Садальский посчитал позорной работу Цискаридзе в качестве ведущего Первого канала

Выплаты мобилизованным в Белгороде и автограф Шатунова в Оренбурге: главные новости регионов

Шокирующие мини и детские хвостики: стилист разобрала гардероб Нетребко

Семен Слепаков навсегда уехал из России


Военком Кудрявцев рассказал о проблемах мобилизации в Новосибирской области

Петра Квитова и ещё две чешских теннисистки получили wild card на турнир WTA 500 в Остраве

Теннисист Шевченко пробился в основную сетку турнира ATP-500 в Астане

Дмитриева: смешно рассуждать о шансах Сафиуллина с Джоковичем



«В 11 лет мне привили этот комплекс»: Лиза Лпшка сделала ринопластику

Уход за пожилыми людьми с болезнью Паркинсона в доме престарелых

Около 400 некорректных повесток отозвали в Москве

Корпоратив Мезонпроект прошел на выезде в городе Нижний Новгород.


Денис Черкасов одержал победу в турнире по ММА в Омске

Патрушев допустил причастность западных спецслужб к взрывам на "Северных потоках"

Путин оценил развитие отношений России и Китая

Нарышкин: страны Запада находятся на грани потери рассудка


Лолита призналась, что хотела провести остаток жизни с Борисом Моисеевым

Роскосмос опубликовал новые спутниковые снимки места утечки на «Северных потоках»

Брат Моисеева не знал о перенесенных артистом инсультах

На станции метро "Лианозово" Люблинско-Дмитровской линии монтируют эскалаторы



Путин в России и мире







Персональные новости
Russian.city

Департамент ГОЧСиПБ по ВАО

О безопасности в сезон «тихой охоты» напомнили грибникам



News Every Day

German-style soft pretzels no lye




Friends of Today24


Загрузка...
Музыкальные новости

Персональные новости
Moscow.media