Tagged: mortgage rates

Over the last two weeks, the 30-year fixed-rate mortgage dropped by half a percent, as concerns about a potential recession continue to loom.

As of May 19, the share of median income required to make the P&I payment had climbed to 33.7%, just shy of the 34.1% high reached in July 2006.

Fixed mortgage rates have increased by more than 2 full percentage points since the beginning of the year.

Redfin says the pool of homebuyers is dwindling as mortgage rates reach a record high.

It's the first jump in rates in three weeks.