Facts: The average 30-year fixed mortgage rate from Freddie Mac increased to 6.83%, up from 6.62% last week. At this rate, with a 20% down payment, the monthly mortgage payment amounts to $2,093 for a home priced at $400,000. With a 10% down payment, the typical payment would be $2,354.
Level set: The 30-year fixed settled some from the bounce-house activity in the week prior. Spring buyers are in a better position with more inventory in many markets. While some are cautious in the face of uncertainty, others will jump at better opportunities.
Watch: Economists are currently eyeing any potential changes in the bond market that would impact the mortgage market. China holds about $760 billion in U.S. bonds, raising eyebrows given the trade war. Japan is currently the largest holder of U.S. bonds.
