As mortgage rates enter the ‘red zone,’ homebuyers find they can’t quite bully sellers hard enough to compensate The average interest rate on America’s most popular home loan hit a 14-year high this w...
Tag: mortgage
Mortgage Rates Surpass 6% For First Time October 2008
Topline Mortgage rates are now at their highest level since the peak of the Great Recession, according to data released Thursday by mortgage provider Freddie Mac. A home for sale sign in Florida. Gett...
Mortgage refinancing index falls for 5th straight week hitting lowest level since 2000
Mortgage activity has been in decline with the increasing interest rates, a secondary cause of the Federal Reserve’s (Fed) fight against inflation. Further, the housing market in the US has already sh...
Should Retirees Pay Off Their Mortgage?
Paying off the mortgage after 30 years, followed by retirement, used to be a rite of passage for many. This scenario is no longer the norm: Baby Boomers, Americans born between 1946 and 1965, are carr...
Mortgage demand declines 29% from last year as rates eclipse 6%
A for sale sign is posted in front of a home that is listed for over $1 million on April 29, 2022 in San Francisco, California. Justin Sullivan | Getty Images Mortgage demand appears to have nowhere t...
Despite Mortgage Rates, You Should Buy a House Right Now
You can’t time the housing market. That statement, on the surface, seems like it’s wrong, but over 50 years of sales data suggest broadly that the right time to buy a house is always now. ...
‘Frigid’ future ahead for housing market as mortgage rates scale new heights
‘Frigid’ future ahead for housing market as mortgage rates scale new heights The interest rate on America’s most popular home loan surged this week, surpassing its mid-summer high as federal regulator...
Can you avoid that 6% mortgage rate? Here’s what pros think will happen next with mortgage rates
What might mortgage rates look like this month? Getty Images This past week, average 30-year mortgage rates crossed the 6% mark — though many borrowers can still snag lower lower rates than that — aft...
Mortgage Rates Hit Highest Level Since 2008 In Latest Bleak Sign For Housing Market
Topline Mortgage rates are at their highest level since the Great Recession, according to data released by Freddie Mac Thursday, as housing affordability continues to slump. A for sale sign is posted ...
Mortgage demand drops further as interest rates shoot back to June high
GP: Homes for sale Brittany Murray Via Getty Images | Medianews Group | Getty Images In June the average rate on the 30-year fixed shot over 6% briefly, and that was enough to turn the once-hot housin...
Are These Mortgage REITs Too Risky Right Now?
A long-standing tenet of investing holds that the greater the risk, the greater the reward. But every investor has a different tolerance for accepting risk. One measure of a stock’s risk is its beta, ...
When It Pays to Have a Mortgage in Retirement—and When It Doesn’t
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‘Vulnerable time for the housing market’: Mortgage rates are now double what they were a year ago, and will weigh on house prices
The 30-year fixed-rate mortgage averaged 5.66% as of Sept. 1, according to data released Thursday by Freddie Mac. That’s up 11 basis points from the previous week — one basis point is equal to one hun...
Mortgage rates tiptoe perilously close to threshold where the average family can’t afford a typical home
Mortgage rates tiptoe perilously close to threshold where the average family can’t afford a typical home U.S. mortgage rates moved higher this week amid signs that the Federal Reserve will continue to...
Wells Fargo Cuts 75 Jobs In Home Mortgage Division. Here Are The Major U.S. Job Cuts Amid Growing Recession Fears
Wells Fargo made its ninth round of job cuts in its home mortgage division this year as the housing market continues to cool substantially—the latest U.S. company to announce layoffs this summer as em...
Mortgage demand falls even further, as rates shoot back up to July highs
A real estate consultant shows a condo to a prospective buyer in Miami, Florida. Joe Raedle | Getty Images After falling back earlier this month, mortgage rates began rising sharply again to the highe...
Your Mortgage Could Skyrocket if Federal Funds Rate Goes from 2.25% to 4%
As of today, August 26, the average mortgage rate for a 30-year fixed is 5.5%, rising 0.42% from last week, according to Freddie Mac’s Primary Mortgage Market Survey. That’s compared to just 3.079% a ...
How Rising Interest Rates Could Affect These Mortgage REITs
A rising inflation rate has been a drag on the U.S. stock market for much of 2022. The Fed’s recent moves to curb inflation by raising interest rates multiple times may have kept inflation from growin...
US mortgage lenders are starting to go bankrupt — how this one factor could be triggering the worst surge of failures since 2008
US mortgage lenders are starting to go bankrupt — how this one factor could be triggering the worst surge of failures since 2008 The real estate market just can’t catch a break, with inventory of resa...
Fannie Mae says fixed mortgage rates could fall to 4.5% next year
The Good Brigade | Digitalvision | Getty Images Mortgage rates are projected to decline next year — but that doesn’t mean prospective homebuyers should necessarily delay a purchase for the prosp...
Mortgage rates are up, but home prices may have peaked — just as debt forgiveness frees up more cash
‘We are at the turning point’: Mortgage rates are up, but home prices may have peaked — just as debt forgiveness frees up more cash U.S. mortgage rates have spiked to their highest level in two months...
Mortgage Rates Could Skyrocket Even More If the Federal Funds Rate Goes from 2.25% to 4%
Compare mortgage rates What Is a Mortgage Rate? The mortgage rate is the interest rate a lender will charge on your mortgage, based on your risk profile and the particular market conditions. Fixed mor...
Mortgage demand from first-time buyers makes a comeback
A real estate agent shows a home to a prospective buyer in Miami. Getty Images Mortgage demand continues to weaken, still right around a 22-year low, but there was a sign in the weekly numbers that fi...
Mortgage rates slink back down, but hordes of jittery homebuyers are still waiting on the sidelines
Mortgage rates slink back down, but hordes of jittery homebuyers are still waiting on the sidelines U.S. mortgage rates fell this week as inflation finally started to moderate, a new report shows. The...
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 h...
July existing-home sales fall for the sixth straight month, realtors see ‘housing recession’
The numbers: U.S. existing-home sales fell 5.9% to a seasonally adjusted annual rate of 4.81 million in July, the National Association of Realtors said Wednesday. This is the sixth straight monthly de...
Lock In High Yields With Mortgage REITs
Cubes form the abbreviation “REIT” (Real Estate Investment Trust) next to a model house. getty Mortgage REITs are all about the yield curve. They borrow on the low end (30- to 60-day LIBOR...
Mortgage Demand Falls To New 22-Year Low As Housing Market Fuels Recession Fears
Topline Despite falling mortgage rates providing some relief to potential home buyers, mortgage applications fell to the lowest level since the turn of the century last week—providing fresh evidence t...
Mortgage demand fell last week even as rates declined slightly
A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates fell slightly last week, but not enough to fuel ...
‘Home prices where I live are close to $600,000.’ Is it a smart move to buy a house with all-cash — or better to take out a mortgage?
Dear Big Move, I’ve recently been thinking about purchasing my first home at 35. I have a nest egg of about $1.8 million that I’ve accrued over the past 14 years. This money is completely invested in...