mortgage rates

As the housing market grapples with elevated prices and a historic drop in listings, there's a glimmer of hope for homebuyers: mortgage rates are taking a slight dip. The CME Group FedWatch tool currently shows an 89.3% probability that the Federal Reserve will pause rate hikes in June, a move...

‘Rich Dad, Poor Dad' author Robert Kiyosaki has criticized President Joe Biden, apparently on his mortgage plan that permits consumers with lower credit ratings to get better mortgage rates. What Happened: "Biden rewards people with poor credit & punishes people with good credit," Kiyosaki...

While mortgage rates may have dipped slightly this week due to several bank failures, five consecutive weeks of increases have undone the temporary decrease that began last November. And with the Federal Reserve warning that rate increases will continue in an effort to curb inflation, many are...

The average 30-year fixed mortgage interest rate is up to 7.06%, increasing over 50 basis points over the past month, according to BankRate, causing home-sale prices to slide from a year earlier for the first time in more than a decade. The decrease in home prices are due to climbing rates, meaning...

The housing market, still in its relentless rough patch as mortgage rates continue to climb higher, is deterring buyers from making a move. What Happened: Mortgage applications for purchasing a home plummeted by 6% last week compared to the previous week, falling for the third straight week,...

Last summer, Federal Reserve chair Jerome Powell laid out a plan to reset the U.S. housing market, which has been putting the squeeze on aspiring homeowners. How? By increasing interest rates, and subsequently spiking mortgage rates. While higher rates alone wouldn't solve the problem of...

With mortgage rates falling for the fifth consecutive week, newer homeowners who locked in higher rates are looking for ways to reduce their monthly mortgage costs — and they’re doing so by refinancing in flock-like numbers. What Happened: Applications to refinance a home loan jumped 6...

Data issued by Redfin Corp (NASDAQ: RDFN) Thursday revealed its Homebuyer Demand Index — which tracks various services tied to early-stage home buying — was up 10%, while mortgage applications came in 14% higher than at the end of October. Those would-be homeowners who have been...

Toll Brothers Inc (NYSE: TOL) issued an upbeat earnings report Tuesday — the company's strongest in history. The report came in above consensus estimates on the top and bottom lines, but Raymond James analysts say 'not so fast,' citing data that could dampen Toll Brothers'...

A homebuyer must earn $93,684 to afford the $2,342 monthly mortgage payment on the typical U.S. home. That's down 14.51% from one month ago, and up 21.37% from $73,668 a year ago. This is owing to mortgage rates more than doubling in the last year, along with consistently high property prices....

Starting with the Fed's talking lines on Wednesday, the economic environment, including mortgage rates (6.34%/30-yr), shifted last week. The labor market is still thriving, as seen by another strong employment report released on Friday, which initially drove bond rates higher. However, the way...

Mortgage rates dropped significantly last week as a result of U.S. Bureau of Labor Statistics statistics that showed inflation had slowed in October, which is a boon for potential home buyers. According to Freddie Mac, the average 30-year fixed rate dropped by 47 basis points, from 7.08% to 6.62%,...

Redfin Corp (NASDAQ: RDFN) data shows that the annual growth in sales prices for properties sold during the four weeks that ended on November 13 was 3.2%, the smallest increase since July 2020. However, since reaching all-time highs in June, the median price of homes sold has dropped substantially...

Last week, the Federal Reserve approved a fourth straight 75-basis point hike in interest rates (the sixth overall this year) and hinted at a potential shift in its monetary policy strategy to combat inflation. Rising interest rates in the U.S. are doing more damage to the housing markets than...

Almost every day for the last several months, people have been subjected to a steady trickle of bad news about the state of America’s real estate market. Unless you’ve been living under a rock, it’s impossible to avoid talk of the U.S. Federal reserve’s almost yearlong spree...