mortgage rates

Consumers’ wallets should get some relief if the Federal Reserve lowers rates this week, but it won’t be a huge help, according to Benjamin Ayers, senior economist with Nationwide Insurance (NASDAQ:NWFAX). “It should put some downward pressure on auto rates, mortgage rates, loan...

Homebuilder stocks are on the rise as the Federal Reserve is expected to cut rates later this week, mortgage rates are on the decline and Democratic presidential candidate, Vice President Kamala Harris, proposes a homeownership plan that involves building three million new homes. The Fed is...

Mortgage rates declined to their lowest point in more than 18 months last week, encouraging homebuyers to refinance the amount they have left on their home loans. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 6.29...

The U.S. housing market has been tumultuous due to persistent interest rate hikes. However, an upward revision of U.S. gross domestic product growth in the second quarter has led speculators to reconsider their bets on a substantial 50-basis-point rate cut next month. With mortgage rates...

Prospective homebuyers are holding off on buying new homes as they bet on mortgage rates falling further, causing slow home sales, according to builders. And why wouldn’t they wait? In the week ending Aug. 23, the average contract interest rate for 30-year fixed-rate mortgages with conforming...

Mortgage rates fell to their lowest levels in over a year this week, spurred by rising market expectations of interest rate cuts by the Federal Reserve, bringing some much-needed relief to U.S. homebuyers. As of Aug. 7, the average 30-year fixed mortgage rate dropped by 26 basis points from the...

The U.S. housing market faced a prolonged period of disequilibrium following interest rate hikes. While mortgage rates are poised to continue their fall, experts say homebuyers should capitalize now. The Data: Redfin released a report on Tuesday following a weak July jobs report that sent mortgage...

Markets are on edge as investors digest a slew of geopolitical events, corporate earnings, and economic data in this final session of July, which promises to be highly volatile ahead of the Federal Open Market Committee (FOMC) meeting. Geopolitical Tensions Flare Up In Middle East, BoJ Moves, US...

Mortgage rates continued to trickle down this month, falling to 6.77%. The housing market continues its long-term movement to equilibrium, albeit slowly, as housing remains unaffordable for many Americans. The Data: According to a Freddie Mac report, the average 30-year fixed mortgage rate fell to...

Mortgage rates have declined for the third consecutive week following signs of cooling inflation and lower interest rates from the Federal Reserve, according to Freddie Mac (OTC:FMCC). The 30-year fixed mortgage rate averaged 6.87% as of Thursday, down from last week’s average of 6.95%. A...

Mortgage rates dropped for a second consecutive week as inflation continued to ease. The average 30-year fixed-rate mortgage was 6.95% for the week ending June 13, according to Freddie Mac‘s (OTC:FMCC) latest Primary Mortgage Market Survey, Fox Business reported. That is down from an average...

As Treasury yields continue their upward trajectory, reaching levels not seen since November 2023, the impact on the U.S. mortgage market and potentially for the broader economy is becoming increasingly pressing. On Wednesday, the yield on the 30-year Treasury note climbed 5 basis points, reaching...

Real estate stocks slid at Wednesday’s market open, weighed down by the latest disappointing data on housing starts and a spike in mortgage rates, darkening the outlook for the sector. By 9:00 a.m. EST, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) had dropped by 0.3%. This marked its...

The recent spike in national mortgage rates stirred concerns among homebuyers and economists alike. With the 30-year fixed-rate mortgage (FRM) climbing to 6.88% on April 11, questions arise about the trajectory of the housing market. Chart Source: Freddie Mac Additionally, other key indicators...

Mortgage lock-in is an often overlooked area of the U.S. housing market. It hampers the ability of homeowners to sell their properties, adding to the shortage in supply of available homes, pushing house prices ever higher. Here’s the problem. Most of the 50 million active mortgages in the U.S...