INSIDER
Average rate on a 30-year mortgage in the US rises for fifth straight week
Read full article: Average rate on a 30-year mortgage in the US rises for fifth straight weekThe average rate on a 30-year mortgage in the U.S. rose for the fifth straight week, returning to its highest level since early August.
Allies hope a Trump win changes the system for mortgages. Some warn it will make them pricier
Read full article: Allies hope a Trump win changes the system for mortgages. Some warn it will make them pricierIf Donald Trump wins the presidential election, Republicans hope he will fulfill a longstanding GOP goal of privatizing the mortgage giants Fannie Mae and Freddie Mac.
Average rate on a 30-year mortgage in the US rises to the highest level in 8 weeks
Read full article: Average rate on a 30-year mortgage in the US rises to the highest level in 8 weeksThe average rate on a 30-year mortgage in the U.S. moved higher for the third week in a row and reached the highest level since late August.
Average rate on a 30-year mortgage in the U.S. ticks up to 6.12%, first increase in 7 weeks
Read full article: Average rate on a 30-year mortgage in the U.S. ticks up to 6.12%, first increase in 7 weeksThe average rate on a 30-year mortgage in the U.S. rose to 6.12% this week, the first increase in seven weeks.
Average rate on a 30-year mortgage slips to 6.08%, lowest level in 2 years
Read full article: Average rate on a 30-year mortgage slips to 6.08%, lowest level in 2 yearsThe average rate on a 30-year mortgage in the U.S. slipped this week to its lowest level in two years, boosting home shoppers’ purchasing power as they navigate a housing market with prices near all-time highs.
Average rate on a 30-year mortgage eases to 6.35%, its lowest level in more than a year
Read full article: Average rate on a 30-year mortgage eases to 6.35%, its lowest level in more than a yearThe average rate on a 30-year mortgage eased for the second week in a row and remains at its lowest level in more than a year.
Average rate on a 30-year mortgage ticks up to 6.49%, near its lowest level in more than a year
Read full article: Average rate on a 30-year mortgage ticks up to 6.49%, near its lowest level in more than a yearThe average rate on a 30-year mortgage edged higher this week, holding close to its lowest level in more than a year.
Average rate on a 30-year mortgage falls to 6.73%, lowest level since early February
Read full article: Average rate on a 30-year mortgage falls to 6.73%, lowest level since early FebruaryThe average rate on a 30-year mortgage fell this week to its lowest level since early February, easing borrowing costs for prospective homebuyers facing record-high home prices.
Average rate on a 30-year mortgage falls slightly, easing borrowing costs for home shoppers
Read full article: Average rate on a 30-year mortgage falls slightly, easing borrowing costs for home shoppersThe average rate on a 30-year mortgage fell slightly this week, providing modest relief for home shoppers facing record-high home prices.
Average rate on a 30-year mortgage climbs for the first time since late May to just under 7%
Read full article: Average rate on a 30-year mortgage climbs for the first time since late May to just under 7%The average rate on a 30-year mortgage rose this week, pushing up borrowing costs on a home loan for the first time since late May.
Average long-term US mortgage rate falls again, easing to lowest level since early April
Read full article: Average long-term US mortgage rate falls again, easing to lowest level since early AprilHome loan borrowing costs eased again this week as the average rate on a 30-year mortgage declined to its lowest level since early April.
Mortgage rates ease for second straight week, leaving average rate on a 30-year home loan at 6.95%
Read full article: Mortgage rates ease for second straight week, leaving average rate on a 30-year home loan at 6.95%Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it’s been much of this year.
Little relief: Mortgage rates ease, pulling the average rate on a 30-year home loan to just below 7%
Read full article: Little relief: Mortgage rates ease, pulling the average rate on a 30-year home loan to just below 7%The average rate on a 30-year mortgage dipped to just below 7% this week, little relief for prospective homebuyers already facing the challenges of rising housing prices and a relatively limited inventory of homes on the market.
Mortgage rates snap three-week pullback, pushing average rate on a 30-year home loan back above 7%
Read full article: Mortgage rates snap three-week pullback, pushing average rate on a 30-year home loan back above 7%The average rate on a 30-year mortgage moved back above 7% this week, a setback for home shoppers at a time when the U.S. housing market is already slowing under the strain of elevated home loan borrowing costs and rising prices.
Long-term mortgage rates ease for third straight week, dipping to just below 7%
Read full article: Long-term mortgage rates ease for third straight week, dipping to just below 7%The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties.
Long-term mortgage rates retreat for second straight week, US average at 7.02%
Read full article: Long-term mortgage rates retreat for second straight week, US average at 7.02%The average rate on a 30-year mortgage in the U.S. fell for the second straight week, giving some relief to home shoppers already facing sky-high prices and a shortage of supply.
Average long-term US mortgage rate rises for again, reaching highest level more than five months
Read full article: Average long-term US mortgage rate rises for again, reaching highest level more than five monthsThe average rate on a 30-year mortgage climbed this week to its highest level in more than five months, pushing up borrowing costs for prospective homebuyers in what’s typically the housing market’s busiest stretch of the year.
Average long-term US mortgage rate climbs for fourth straight week to highest level since November
Read full article: Average long-term US mortgage rate climbs for fourth straight week to highest level since NovemberThe average long-term U.S. mortgage rate climbed this week to its highest level since late November, another setback for home shoppers in what’s traditionally the housing market’s busiest time of the year.
Average long-term US mortgage rate climbs above 7% to highest level since late November
Read full article: Average long-term US mortgage rate climbs above 7% to highest level since late NovemberProspective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months.
Average long-term US mortgage rate edges closer to 7%, rising to highest level since early March
Read full article: Average long-term US mortgage rate edges closer to 7%, rising to highest level since early MarchThe average long-term U.S. mortgage rate rose to its highest level in five weeks, a setback for prospective homebuyers during what’s traditionally the busiest time of the year for home sales.
Average long-term US mortgage rate climbs back to nearly 7% after two-week slide
Read full article: Average long-term US mortgage rate climbs back to nearly 7% after two-week slideThe average long-term U.S. mortgage rate climbed back to nearly 7% this week, pushing up borrowing costs for home shoppers with the spring homebuying season underway.
Applications for U.S. unemployment benefits dip to 210,000, another sign the job market is strong
Read full article: Applications for U.S. unemployment benefits dip to 210,000, another sign the job market is strongThe number of Americans signing up for unemployment benefits fell slightly last week, another sign that the labor market remains strong and most workers enjoy extraordinary job security.
Average long-term US mortgage rose again this week to highest level since mid December
Read full article: Average long-term US mortgage rose again this week to highest level since mid DecemberThe average long-term U.S. mortgage rate rose this week for the third time in as many weeks, driving up home loan borrowing costs in just as the spring homebuying season ramps up.
Average long-term US mortgage rate rose this week to 6.77%, highest level in 10 weeks
Read full article: Average long-term US mortgage rate rose this week to 6.77%, highest level in 10 weeksThe average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season.
Average long-term US mortgage rate eases to 6.63%, a welcome move for prospective homebuyers
Read full article: Average long-term US mortgage rate eases to 6.63%, a welcome move for prospective homebuyersThe average long-term U.S. mortgage rate eased this week, welcome news for prospective homebuyers as the spring homebuying season approaches.
Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since May
Read full article: Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since MayThe average long-term U.S. mortgage rate fell this week to its lowest level since May, welcome news for prospective homebuyers facing rising home prices and intense competition for relatively few properties on the market.
Average long-term mortgage rates rise again, reaching their highest level in 4 weeks
Read full article: Average long-term mortgage rates rise again, reaching their highest level in 4 weeksThe average long-term U.S. mortgage rate rose for the second time in as many weeks, climbing to its highest level in four weeks.
Average long-term mortgage rates edge higher, snapping 9-week slide
Read full article: Average long-term mortgage rates edge higher, snapping 9-week slideThe average long-term U.S. mortgage rate edged higher this week, ending a nine-week slide that gave prospective homebuyers some breathing room after home loan borrowing soared to the highest level in more than two decades.
The average long-term US mortgage rate dips below 7% to its lowest level since early August
Read full article: The average long-term US mortgage rate dips below 7% to its lowest level since early AugustThe average long-term U.S. mortgage rate dropped below 7% to its lowest level since early August, another boost for prospective homebuyers who have largely been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September
Read full article: The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late SeptemberThe average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing market.
The average long-term US mortgage rate falls to 7.29% in fourth-straight weekly drop
Read full article: The average long-term US mortgage rate falls to 7.29% in fourth-straight weekly dropThe average long-term U.S. mortgage rate fell for the fourth time in as many weeks, more positive news for prospective homebuyers who have been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale.
The average long-term US mortgage rate falls to 7.5% in second-straight weekly drop
Read full article: The average long-term US mortgage rate falls to 7.5% in second-straight weekly dropThe average rate on the benchmark 30-year home loan fell for the second week in a row, positive news for prospective homebuyers after rates touched a 22-year high just last month.
The average long-term US mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a row
Read full article: The average long-term US mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a rowThe average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb —- modest relief for prospective homebuyers grappling with an increasingly unaffordable housing market.
The average long-term US mortgage rate surges to 7.63%, holding at highest level since 2000
Read full article: The average long-term US mortgage rate surges to 7.63%, holding at highest level since 2000The cost of financing a home surged again this week, keeping the average long-term U.S. mortgage rate at its highest level since December 2000.
The average long-term US mortgage rate surges to 7.57%, holding at highest level since 2000
Read full article: The average long-term US mortgage rate surges to 7.57%, holding at highest level since 2000Home loan borrowing costs rose for the fifth straight week, keeping the average long-term U.S. mortgage rate at its highest level in more than two decades and taking another bite out of prospective homebuyers’ purchasing power.
The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000
Read full article: The average long-term US mortgage rate surges to 7.49%, its highest level since December 2000The cost of financing a home surged again this week as the average long-term U.S. mortgage rate climbed to its highest level since December 2000, further dimming the affordability outlook for many would-be homebuyers.
The average long-term US mortgage rate reaches highest point in nearly 23 years, hitting 7.31%
Read full article: The average long-term US mortgage rate reaches highest point in nearly 23 years, hitting 7.31%Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly 23 years, another blow to prospective homebuyers facing an increasingly less affordable housing market.
The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 high
Read full article: The average long-term US mortgage rate edged up to 7.19% this week, slightly below its 2023 highThe average long-term U.S. mortgage rate edged up again this week, another setback for would-be homebuyers navigating an increasingly less affordable housing market.
The average long-term US mortgage rate fell to 7.18% this week, easing from more than 20-year high
Read full article: The average long-term US mortgage rate fell to 7.18% this week, easing from more than 20-year highThe average long-term U.S. mortgage rate declined this week after climbing five consecutive weeks to a more than 20-year high, a modest relief for would-be homebuyers challenged by rising home prices and a thin inventory of homes on the market.
Average long-term US mortgage rate jumps to 7.23% this week to highest level since June 2001
Read full article: Average long-term US mortgage rate jumps to 7.23% this week to highest level since June 2001The average long-term U.S. mortgage rate climbed further above 7% this week to its highest level since 2001, another blow to would-be homebuyers grappling with rising home prices and a stubbornly low supply of properties on the market.
Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 years
Read full article: Average long-term US mortgage rate climbs to 7.09% this week to highest level in more than 20 yearsThe average long-term U.S. mortgage rate jumped this week to its highest level in 20 years.
Average long-term US mortgage rate climbs to 6.96% this week, matching highest level this year
Read full article: Average long-term US mortgage rate climbs to 6.96% this week, matching highest level this yearThe average long-term U.S. mortgage rate rose this week to just under 7%, the latest setback for would-be homebuyers already facing affordability challenges due to a housing market limited by a shortage of homes for sale.
Mortgage rates tick higher: 30-year, fixed home loan is at 6.90%; 15-year at 6.25%
Read full article: Mortgage rates tick higher: 30-year, fixed home loan is at 6.90%; 15-year at 6.25%The average long-term U.S. mortgage rate rose again this week, bad news for Americans seeking to upgrade or buy their first home.
Average long-term US mortgage rate falls to 6.78% this week to lowest level in four weeks
Read full article: Average long-term US mortgage rate falls to 6.78% this week to lowest level in four weeksThe average long-term U.S. mortgage rate slipped this week to the lowest level in four weeks, a boost for house hunters facing a market held back by persistently high prices and a near-historic low number of homes for sale.
Average long-term US mortgage rate surged to nearly 7% this week to highest level since November
Read full article: Average long-term US mortgage rate surged to nearly 7% this week to highest level since NovemberThe average long-term U.S. mortgage rate climbed this week to just under 7%, the highest level since November and the latest setback for homebuyers already grappling with a tough housing market constrained by a dearth of homes for sale.
Average long-term US mortgage rate falls to 6.67%, third straight drop since climbing to 2023 high
Read full article: Average long-term US mortgage rate falls to 6.67%, third straight drop since climbing to 2023 highThe average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back this year by a tight inventory of homes for sale.
Boost for homebuyers: Average long-term US mortgage rate eases from 7-month high to 6.71% this week
Read full article: Boost for homebuyers: Average long-term US mortgage rate eases from 7-month high to 6.71% this weekThe average long-term U.S. mortgage rate eased back from a seven-month high this week, a welcome change for homebuyers navigating high borrowing costs and heightened competition for relatively few homes for sale.
Average long-term US mortgage rate climbs to 6.79% this week, highest level since November
Read full article: Average long-term US mortgage rate climbs to 6.79% this week, highest level since NovemberThe average long-term U.S. mortgage rate climbed this week to its highest level since November, driving up borrowing costs for would-be homebuyers at a time when the housing market is being held back by a near record-low inventory of homes on the market.
The average long-term US mortgage rate rose to 6.39% this week, Freddie Mac says
Read full article: The average long-term US mortgage rate rose to 6.39% this week, Freddie Mac saysThe average long-term U.S. mortgage rate edged higher this week after a two-week drop, a modest move in line with a mostly moderate shift in home loan rates in recent weeks.
Average long-term US mortgage rate comes back down this week
Read full article: Average long-term US mortgage rate comes back down this weekAfter two straight weekly increases, the average long-term U.S. mortgage rate came back down again this week but remains a significant hurdle for many prospective homebuyers.
Average long-term US mortgage rates inch down this week
Read full article: Average long-term US mortgage rates inch down this weekThe average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023.
Average long-term US mortgage rates dip third week in a row
Read full article: Average long-term US mortgage rates dip third week in a rowThe average long-term U.S. mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago.
Mortgage rates unchanged from last week, remain under 3%
Read full article: Mortgage rates unchanged from last week, remain under 3%The average long-term mortgage rate was unchanged from last week as the economy continues to show encouraging signs even as hospitalizations from the delta variant of the coronavirus remain elevated.
Benchmark U.S. 30-year mortgage drops to record low 2.66%
Read full article: Benchmark U.S. 30-year mortgage drops to record low 2.66%U.S. long-term mortgage rates dropped this week to a record low for the 16th time in 2020, reflecting an economy hard hit by the coronavirus pandemic. Mortgage giant Freddie Mac said Thursday, Dec. 24, that the average rate on the benchmark 30-year fixed-rate home loan slipped to 2.66% from 2.67% last week. (AP Photo/Steven Senne, File)WASHINGTON – U.S. long-term mortgage rates dropped this week to a record low for the 16th time in 2020, reflecting an economy hard hit by the coronavirus pandemic. Mortgage giant Freddie Mac said Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to a record low 2.66% from 2.67% last week. The 5-year adjustable rate mortgage was unchanged this week at 2.79%.
US long-term mortgage rates fall; 30-year at 2.67%
Read full article: US long-term mortgage rates fall; 30-year at 2.67%Mortgage finance giant Freddie Mac said Thursday, Dec. 17, 2020, that the average rate on the 30-year fixed-rate home loan fell to 2.67% from 2.71% last week. A year ago, the benchmark rate stood at 3.73%. (AP Photo/Charles Krupa)WASHINGTON – U.S. long-term mortgage rates declined this week to record low levels for the 15th time this year against the backdrop of an economy ravaged by the pandemic. Mortgage finance giant Freddie Mac said Thursday that the average rate on the 30-year fixed-rate home loan fell to 2.67% from 2.71% last week. A year ago, the benchmark rate stood at 3.73%.
US long-term mortgage rates flat; 30-year at 2.71%
Read full article: US long-term mortgage rates flat; 30-year at 2.71%WASHINGTON – U.S. long-term mortgage rates were unchanged this week, remaining at record low levels against the backdrop of an economy punished by the pandemic. Mortgage finance giant Freddie Mac said Thursday that the average rate on the 30-year fixed-rate home loan remained at 2.71% from last week. The average rate on 15-year fixed-rate loans stayed at 2.26%. Home loan rates have trended downward through most of this year, bolstering demand from would-be homebuyers or people looking to refinance existing mortgages. But home sales have stalled as the lack of available homes for purchase continues to stifle house hunters.
US long-term mortgage rates edge lower; 30-year at 2.71%
Read full article: US long-term mortgage rates edge lower; 30-year at 2.71%WASHINGTON – U.S. long-term mortgage rates edged lower this week, reaching record lows for the 14th time this year against the backdrop of the pandemic-ravaged economy. Mortgage finance giant Freddie Mac said Thursday the average rate on the 30-year fixed-rate home loan slipped to 2.71% from 2.72% last week. The average rate on 15-year fixed-rate loans declined to 2.26% from 2.28%. Home loan rates have trended downward through most of this year, bolstering demand from would-be homebuyers or people looking to refinance existing mortgages. But as Freddie Mac noted, home sales have stalled as the lack of available homes for purchase continues to stifle house hunters.
US long-term mortgage rates rise; 30-year at 2.84%
Read full article: US long-term mortgage rates rise; 30-year at 2.84%WASHINGTON – U.S. long-term mortgage rates rose this week. They remain at historically low levels, now around a percentage point below a year ago. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year benchmark loan increased to 2.84% from 2.78% from last week. Breaking their downward trend through most of this year, mortgage rates were bolstered by the news Monday that a COVID-19 vaccine may be 90% effective, based on early and incomplete test results. The historically low borrowing rates have bolstered demand from prospective homebuyers.
US long-term mortgage rates flat this week; 30-year at 2.81%
Read full article: US long-term mortgage rates flat this week; 30-year at 2.81%WASHINGTON – U.S. long-term mortgage rates were little changed this week after marking a new all-time low last week. Home loan rates have declined through the year amid economic anxiety in the recession set off by the coronavirus pandemic. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year benchmark loan edged up 2.81% from 2.80% last week. The average rate on the 15-year fixed-rate mortgage slipped to 2.32% from 2.33%. The low borrowing rates have bolstered demand from prospective homebuyers.
US long-term mortgage rates fall; 30-year at 2.86%
Read full article: US long-term mortgage rates fall; 30-year at 2.86%WASHINGTON U.S. average rates on long-term mortgages fell this week amid signs that the halting economic recovery slowed over the summer. The key 30-year mortgage again marked an all-time low. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan declined to 2.86% from 2.93% last week. The average rate on the 15-year fixed-rate mortgage slipped to 2.37% from 2.42% last week. Spurred by historically low rates, applications for mortgage loans are up 25% from a year ago, according to Freddie Mac.
US long-term mortgage rates rise; 30-year at 2.99%
Read full article: US long-term mortgage rates rise; 30-year at 2.99%WASHINGTON U.S. average rates on long-term mortgages rose this week though they remain at historically low levels. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan increased to 2.99% from 2.96% last week. The average rate on the 15-year fixed-rate mortgage rose to 2.54% from 2.46% from last week. Housing starts have now risen three straight months after plunging in March and April as the virus outbreak paralyzed the U.S. economy. Many businesses and consumers remain paralyzed by uncertainty and restricted by lockdowns.
US long-term mortgage rates rise; 30-year at 2.96%
Read full article: US long-term mortgage rates rise; 30-year at 2.96%WASHINGTON U.S. average rates on long-term mortgages rose this week but remained at historically low levels. Mortgage buyer Freddie Mac reported Thursday that the average rate on the 30-year home loan increased to 2.96% from 2.88% last week. The average rate on the 15-year fixed-rate mortgage rose to 2.46% from 2.44% from last week. Homebuying demand continues as one of few bright spots in the pandemic-struck economy, especially for prospective buyers considering a first-time purchase, Freddie Mac noted. The pandemic continues to force layoffs just as the expiration of a $600-a-week federal jobless benefit has deepened hardships for many.
US long-term mortgage rates rise; 30-year at 3.01%
Read full article: US long-term mortgage rates rise; 30-year at 3.01%WASHINGTON Average rates on long-term mortgages rose this week for the first time since June 25, after weeks of marking new record lows. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year home loan increased to 3.01% from 2.98% last week the first time in 50 years that it slipped below 3%. Homebuying demand continues to rebound despite the stagnant recovery and economic indicators pointing to slow growth and possible persistent high unemployment, Freddie Mac said. The average rate on the 15-year fixed-rate mortgage rose to 2.54% from to 2.48% last week. The resulting pullback in economic activity has hindered job growth and likely forced additional layoffs.
Here is how to find out how much refinancing your mortgage can save you
Read full article: Here is how to find out how much refinancing your mortgage can save youThat’s why we went straight to the experts to find out what you need to know if you’re thinking about refinancing. You could find extra cash by refinancing your mortgage. The cost of so-called “free” refinancing will be added on to your interest rate. Let’s say you need to refinance $250,000 with a 3.5% interest rate, you will save more than $1,100 a month (assuming your current interest rate is 5%). But before you call a lender, it’s important to know why you’re refinancing.
US mortgage rates stall; 30-year remains at all-time low
Read full article: US mortgage rates stall; 30-year remains at all-time lowNEW YORK Long-term U.S. mortgage were unchanged this week as the benchmark 30-year home loan remains at its lowest rate in nearly 50 years. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year loan stood at 3.13%, the same as last week. It is the lowest level since Freddie began tracking average rates in 1971. The average rate on the 15-year fixed-rate mortgage rose slightly to 2.59% from 2.58% last week, but it is down from 3.16% a year ago. Sales of new homes rose a surprisingly strong 16.6% in May with the reopening of major parts of the country.
US mortgage rates fall; 30-year at all-time low of 3.13%
Read full article: US mortgage rates fall; 30-year at all-time low of 3.13%WASHINGTON Long-term U.S. mortgage rates fell this week as the benchmark 30-year home loan reached a new all-time low. Mortgage buyer Freddie Mac reported Thursday that the average rate on the key 30-year loan declined to 3.13% from 3.21% last week. It was the lowest level since Freddie began tracking average rates in 1971. The average rate on the 15-year fixed-rate mortgage eased to 2.58% from 2.62%. The housing market has shown strength and robust homebuying demand, but it may be difficult to sustain because of the tight supply of homes available for sale, said Freddie Mac chief economist Sam Khater.
US long-term mortgage rates mostly steady; 30-year at 3.21%
Read full article: US long-term mortgage rates mostly steady; 30-year at 3.21%WASHINGTON Long-term U.S. mortgage rates were mostly steady this week, continuing to hover near all-time lows. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark 30-year home loan edged up to 3.21% from 3.18% last week. The average rate on the 15-year fixed-rate mortgage was unchanged at 2.62%. But applications for jobless aid, though still historically high, have now declined for 10 straight weeks since peaking in mid-March when the coronavirus hit the economy hard. That's a sign that the worst of the recession may have passed and the economy may have already bottomed.
Mortgage relief: What you need to know before you call your lender
Read full article: Mortgage relief: What you need to know before you call your lenderHOUSTON – Many homeowners that are having a hard time paying their mortgage during this pandemic can ask their mortgage company for help. But Consumer Reports researchers said many mortgage companies were giving homeowners who called inaccurate information. There are four options homeowners and mortgage companies can choose to repay those skipped payments back when the homeowner gets back on their feet. You can find out if you have a federally-backed mortgage, by using Fannie Mae’s look-up tool or calling 800-232-6643. If your mortgage is federally backed, and you need help, call your mortgage company back and ask for it.