Mortgage rates tumble in the wake of bank failures

A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022. Jordan Vonderhaar | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage dropped to 6.57% Monday, accor...

Mortgage demand recovers slightly, despite rising rates

A “For Sale” sign outside of a home in Atlanta, Georgia, on Friday, Feb. 17, 2023. Dustin Chambers | Bloomberg | Getty Images After dropping to a 28-year low the previous week, mortgage de...

Mortgage demand falls as interest rates rise

A potential buyer with her realtor view a home listed for sale during an open house in Parkland, Florida. Carline Jean | Tribune News Service | Getty Images Mortgage rates moved higher again last week...

Black real estate developers get access to big capital

Black Americans represent less than 5% of residential real estate developers, largely because they can’t get equal access to capital, according to a recent report by the Urban Land Institute. In...

Home price gains weakened sharply to end 2022: S&P Case-Shiller

A “For Sale” sign in front of a home in Roseville, California, on Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images Higher mortgage rates weighed on home price gains at the end of...

January pending home sales show rush of contracts

Saul Loeb | AFP | Getty Images A sharp drop in mortgage interest rates brought homebuyers out in force in January, but rates have bounced back higher again, so the gains may be short-lived. Signed con...

As interest rates rise, Biden administration will reduce the cost of some mortgages by $800 per year

The federal government said Wednesday that it’s lowering the cost of certain federal mortgages by an average of $800 per year, lowering housing costs for an estimated 850,000 homebuyers and homeowners...

Homebuilder sentiment in February sees biggest gain in decade

America’s homebuilders are growing more bullish as buyer demand picks up, driven in part by slightly lower mortgage rates. Homebuilder confidence in the market for newly built single-family home...

Mortgage demand drops as interest rates bounce higher

A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images After falling for five straight weeks, mortgage rates jumped last week, triggering ...

What’s happening with home prices as mortgage rates fall

An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indices existing home prices rose to the highest level in 6 years. Joe Raed...

Mortgage refinance demand jumps 18% as interest rates drop

A ‘For Sale’ sign is posted in front of a single family home on October 27, 2022 in Hollywood, Florida. Joe Raedle | Getty Images Mortgage rates continued to fall last week, and both curre...

Mortgage rates drop to the 5% range for first time since September

Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%,...

Mortgage demand fell last week, even after interest rates fell further

A “For Sale” sign outside a house in Albany, California, on Tuesday, May 31, 2022. David Paul Morris | Bloomberg | Getty Images After a stronger start to the year, mortgage demand plunged ...

Metro areas where U.S. rent prices have dropped the most

Colorful cafe bars at the iconic Beale Street music and entertainment district of downtown Memphis, Tennessee. benedek | iStock | Getty Images Despite broad hikes in rental prices, competition is easi...

Mortgage demand jumps as interest rates drop

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 interest rates fell for the third straight week, while...

Existing home sales drop in December to slowest pace since 2010

Homes in Rocklin, California, US, on Tuesday, Dec. 6, 2022. A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin. David Paul Mo...

Homebuilder sentiment in January rises for the first time in a year

Homes under construction in Tucson, Arizona, U.S., on Tuesday, Feb. 22, 2022. Sales of new U.S. homes retreated in January after a flurry of purchases at the end of 2021, indicating a jump in mortgage...

Mortgage refinance demand surges, as homeowners take advantage of lower interest rates

After rising at the end of the year, mortgage rates dropped sharply last week. That drove demand from current homeowners hoping to save on their monthly payments, but it did little to excite potential...

Wells Fargo Is Backing Out Of The Mortgage Market

(Photo by Robert Alexander/Getty Images) Getty Images Key takeaways Wells Fargo, the country’s third largest mortgage lender, is stepping back from the mortgage market. While not exiting it enti...

Wells Fargo, once the No. 1 player in mortgages, is stepping back from the housing market

Charles Scharf, chief executive officer of Wells Fargo & Co., listens during a House Financial Services Committee hearing in Washington, D.C., U.S., on Tuesday, March 10, 2020. Andrew Harrer | Blo...

Consumer confidence in housing rises as prices fall

Mortgage rates are still twice what they were a year ago, but home prices have been falling since June, and that’s finally making consumers feel better about what had been an overheated, highly ...

Mortgage demand plunges, as interest rates rise

A ‘For Sale’ sign stands in a vacant lot near new homes in Dunlap, Illinois. Daniel Acker | Bloomberg | Getty Images After a brief reprieve in the first half of December, mortgage interest...

Home price gains weakened sharply in November

A sign is posted in front of a home that is for sale on December 19, 2022 in Los Angeles, California. Mario Tama | Getty Images Home prices are falling into a deep winter chill, as higher mortgage rat...

Mortgage rates fall for sixth week in a row, providing some relief for buyers

The numbers: Mortgage rates continued to inch downwards, providing some relief to prospective homeowners. The 30-year fixed-rate mortgage averaged 6.27% as of December 22, according to data released b...

Home sales tumbled in November

Sales of existing homes fell 7.7% in November compared with October, according to the National Association of Realtors. The seasonally adjusted annualized pace was 4.09 million units. That is weaker t...

Mortgage refinance demand surged 6%, as interest rates dropped

A property for sale in Monterey Park, California Frederic J. Brown | AFP | Getty Images Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it...

Homebuilder sentiment falls again, but bottom may be near

A worker walks on the roof of a new home under construction in Carlsbad, California. Mike Blake | Reuters Homebuilders were less confident about their business in December, but they are starting to se...

As US home prices decline, number of buyers with underwater mortgages swells

An alarming number of new homeowners are discovering they owe more on their mortgage than their home is worth as surging interest rates send housing prices spiraling down. About 250,000 Americans who ...

Mortgage demand inches higher as interest rates move lower

A For Sale sign appears in front of a house on Oak Street in Patchogue, New York, on May 17, 2022. Steve Pfost | Newsday | Getty Images After a month of declines, mortgage application volume is rising...

Mortgage rates drop after CPI inflation report

A prospective home buyer, left, is shown a home by a real estate agent in Coral Gables, Florida. Getty Images The average rate on the 30-year fixed mortgage dropped to 6.28% Tuesday, according to Mort...

Mortgage demand falls again even as interest rates sink further

A “For Sale” sign in front of a home in Sacramento, California, on Monday, Dec. 5, 2022. David Paul Morris | Bloomberg | Getty Images Lower mortgage rates are pulling some current homeowne...

Mortgage rates fall for the third straight week, but demand still drops further

A For Sale sign appears in front of a house on Oak Street in Patchogue, New York, on May 17, 2022. Steve Pfost | Newsday | Getty Images Mortgage rates soared over 7% just a month ago, but since then t...