Mortgage Rates

Home Mortgage
Housing Crash
Housing Market
Mortgage
Mortgage Rates
Mortgage Refinance

US Mortgage Rates Plunge for a Second Week, Hit Two-Month Low

(Bloomberg) — US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market. The contract rate on a 30-year fixed mortgage decreased 23 basis points to 6.67% in the week ended Nov. 18, according to Mortgage Bankers Association data released Wednesday. Rates […]

Read More
Home Mortgage
Housing Market
Housing Market Bubble
Mortgage Rates
Mortgage Refinance

US Mortgage Lenders Are Starting to Go Broke

(Bloomberg) — The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. There’s no systemic meltdown coming this time around, because there hasn’t been the […]

Read More
Home Mortgage
Mortgage
Mortgage Rates

Almost Half of Mortgaged Homes in US Now Considered Equity-Rich

(Bloomberg) — Home ownership has reached a milestone in the US. Nearly half of mortgaged properties were considered equity-rich in the second quarter — meaning owners had at least 50% in home equity. This marked the ninth straight quarterly rise, fueled by soaring house valuations in the pandemic era and an increase in down payments […]

Read More
Home Mortgage
Mortgage
Mortgage Rates

Mortgage Rates Fall to 5.1% in Biggest Drop Since April 2020

(Bloomberg) — US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs. The average for a 30-year loan declined to 5.10% from 5.25% last week, Freddie Mac said in a statement Thursday. That was the biggest decline since April 2020, […]

Read More
Home Buyers
Mortgage Rates

U.S. Homebuyers Are Getting Discouraged by Rising Rates and Prices

(Bloomberg) — Potential home buyers are getting discouraged by rising mortgage rates and home prices, according to a survey released on Monday by the New York Federal Reserve. U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% […]

Read More
Home Mortgage
Mortgage
Mortgage Rates

Getting a Mortgage for Non U.S. Citizens

For many foreign-born individuals living in the United States, owning a home is one of the cornerstones of the American dream. But there’s a perception among some non-U.S. citizens that there’s no way they can obtain a mortgage, thus creating a huge barrier to that goal. However, according to the National Association of Realtors (NAR), […]

Read More
Home Ownership
Mortgage Rates

Mortgage rates have dipped — is it a good time to buy a home? Experts weigh in.

Getty Images Some mortgage rates have fallen slightly: The average interest rate on a fixed rate 30-year mortgage now sits at 4.20% and the average annual percentage rate is 4.25%, down from 4.29% and 4.23%, respectively. The average interest rate for a 15-year fixed rate mortgage remains unchanged from a day prior at 3.48% (the […]

Read More
Mortgage
Mortgage Rates

Mortgage Layoff Alert & 4 Shakeout Bets – after refi apps drop 45% in last 6 months

A Bloomberg story by Carmen Arroyo today underscores the cost-cutting focus I’m increasingly hearing from mortgage lenders this month. Mortgage layoffs and cost cuts are normal as rates rise, but lenders will still fund $2.6 trillion in 2022. Here are some bullet points on which lenders will thrive vs. struggle as this plays out. – […]

Read More
Home Ownership
Home Prices
Mortgage Rates

Here’s how to increase your chances of buying a home, even as mortgage rates rise

The 30-year mortgage rate has risen rapidly to its highest level since 2019, around 4%. The increase could compel home shoppers to look for houses in lower price ranges. Some might need to get preapproved again. Mortgage rates have risen almost a full percentage point since late December. A few days before Christmas, the 30-year […]

Read More
Home Mortgage
Mortgage
Mortgage Rates

Mortgage Rates in U.S. Cool After Four Weeks of Increases

(Bloomberg) — Mortgage rates in the U.S. dipped for the first time in a month. The average for a 30-year loan was 3.55%, down from 3.56% the prior week, Freddie Mac said in a statement Thursday. The dip may reassure homeowners there’s still opportunity to save money by refinancing. Still, borrowing costs are expected to […]

Read More
Homeowners
Interest Rates
Mortgage
Mortgage Rates

Rising mortgage rates squeeze both homeowners and buyers

Mortgage rates surged again this week on inflation concerns, hitting the highest point in 22 months that sent homebuyers scrambling to lock in rates. Many homeowners, on the other hand, face a shrinking opportunity to refinance. The rate on the 30-year fixed rate mortgage – the most common home loan for buyers – increased to […]

Read More
Home Mortgage
Mortgage
Mortgage Rates
Mortgage Refinance

Mortgage Rates Surge. The Pandemic’s Ultralow Rates Are Over.

The average rate of a 30-year fixed-rate mortgage was 3.45% this week. Brandon Bell/Getty Images Mortgage rates climbed to their highest point since March 2020, according to data released Thursday. It’s the latest sign that the pandemic’s ultralow rates are a thing of the past. The average rate of a 30-year fixed-rate mortgage was 3.45% […]

Read More
Home Mortgage
Mortgage
Mortgage Rates
Mortgage Refinance

Real estate shock or a big nothing? Experts debate what rising mortgage rates will mean for the 2022 housing market

Federal Reserve officials were confident through the summer that spiking prices would reverse as the economy worked through supply and demand shocks caused by the pandemic. But that “transitory” narrative has been all but abandoned this month as the latest reading of U.S. inflation hit a 39-year high. Soon after that report came out, Fed […]

Read More
Mortgage
Mortgage Rates

U.S Mortgage Rates Slide but Avoid sub-3%

Mortgage rates hit reverse ahead of the holidays, with volatility stemming from the Omicron strain weighing. In the week ending 23rd December, 30-year fixed rates fell by 7 basis point to 3.05%. 30-year fixed rates held above the 3% mark for a 6th consecutive week in spite of the decline. Compared to this time last […]

Read More
Home Mortgage
Mortgage
Mortgage Rates
Mortgage Refinance

This is the No. 1 reason Americans get denied a mortgage — and it’s not the reason you might think

Getty Images/iStockphoto Mortgage rates remain near historic lows, with some 30-year rates near 3% and some 15-year rates near 2%, as you can see here — though experts predict they will rise. But you might not get a mortgage at all, if you fall into some of these traps: According to a recently released NerdWallet […]

Read More
X