Mortgage rates tick up as Fed signals delay on interest rate cuts: Freddie Mac
Home buyers saw borrowing costs rise again last week. (iStock) After weeks of declines, mortgage rates reversed course this week, rising back above 7%, according to Freddie Mac. According to Freddie Mac’s latest report, the average 30-year fixed-rate mortgage for the week ending May 30 was 7.03%. Primary mortgage market researchThat’s up from an average […]
Freddie Mac proposes buying home equity loans
Government-backed mortgage securitizer Freddie Mac is considering whether to expand its portfolio of first-time mortgages and become a buyer of home-equity loans, a move that could offer borrowers more favorable terms than they can get in the private credit market. Public comment on the proposal, which closed less than a week ago, has drawn praise […]
Prosecutor Who Charged Officers In Freddie Gray Death Spared Prison Time After Fraud And Perjury Conviction
Baltimore City’s former top prosecutor was convicted of perjury and mortgage fraud but avoided prison time at his sentencing hearing on Thursday, the Associated Press reported. A federal judge has sentenced Marilyn Mosby, who gained national fame in 2015 when she accused police officers of involvement in Freddie Gray’s death, to 12 months of home […]
Mortgage rates dip lower on positive inflation news, hold at near 7%: Freddie Mac
Buyers in the market saw borrowing costs fall slightly this week. (iStock) Mortgage rates rose above 7% again this week, but Freddie Mac said April’s inflation numbers were a promising step toward relief. The average interest rate on a 30-year fixed-rate mortgage for the week ending May 16 was 7.02%, according to Freddie Mac’s latest […]
Mortgage rates dropped this week, but still sit above 7%: Freddie Mac
Interest rates on 30-year mortgages fell from 7.22% to 7.09%. (iStock) Mortgage rates have been rising steadily in recent weeks, but rates are finally starting to fall. As of May 9, the average 30-year fixed rate mortgage interest rate was 7.09%. Reported by Freddie Mac. This is a significant drop from last week, when interest […]
Mortgage rates push higher with no relief in sight: Freddie Mac
As mortgage rates remain high, homebuyers are looking for ways to lower costs. (iStock) The Federal Reserve is unlikely to reverse its restrictive policy stance anytime soon, pushing mortgage rates further into the 7% range, according to Freddie Mac. The average interest rate on a 30-year fixed-rate mortgage for the week ending May 2 was […]
Mortgage rates are nearing 7% as inflation ticks back up: Freddie Mac
According to Freddie Mac, the average interest rate on a 30-year fixed-rate mortgage last week was 6.88%. (iStock ) Mortgage interest rates continue to rise steadily. Last week, 30-year mortgage rates averaged 6.88%. Reported by Freddie Mac. Last week, interest rates averaged 6.82%, and a year ago, the average interest rate on a 30-year fixed-rate […]
Mortgage rates hover near 7% with no sign of budging: Freddie Mac
Mortgage rates are languishing at nearly 7% due to delays in the Federal Reserve’s rate cut plan. (iStock) Mortgage rates have remained in the 6.8% range this week, according to Freddie Mac, and are likely to remain in that range despite improving inflation indicators. The average interest rate on a 30-year fixed-rate mortgage for the […]
Mortgage rates crawl toward 7% but market optimistic: Freddie Mac
Higher mortgage rates weren’t enough to dampen the mood in the housing market last week. (iStock) Mortgage rates hit a new high this week, but the slow rise to 7% does not dampen hopes for home construction and lower borrowing costs this year, Freddie Mac said. The average interest rate on a 30-year fixed-rate mortgage […]
Mortgage rates continue to drop as spring brings more inventory: Freddie Mac
Mortgage rates fell to an average of 6.74% for 30-year mortgages. (iStock) 15-year and 30-year mortgage rates fell from last week, Freddie Mac reported. “30-year fixed-rate mortgages are down again this week, bringing the total down by almost a quarter of a percentage point after two weeks,” said Sam Cater, chief economist at Freddie Mac. […]