Homebuyers gain an advantage as mortgage rates rise beyond 7% this fall
Mortgage Rates Shift Dynamics for Homebuyers Dagen McDowell has raised concerns that the recent cost-of-living adjustment could worsen the Social Security fiscal crisis. Retirees, she suggests, might be looking at a possible 22% cut in benefits by 2032, primarily due to a dwindling worker-to-retiree ratio. This fall, rising mortgage rates have introduced some advantages for […]
Long Island FDNY widow cries as Islanders and Tunnel to Towers cover mortgage and twins’ tuition: ‘No words’
A Long Island mother was overwhelmed with emotion during a recent Islanders game when the team, in collaboration with Tunnel To Towers, announced they had paid off her mortgage and would cover her twins’ college tuition. Hope McHale, 57, from Manhasset, expressed to The Post, “The mortgage alone is life-changing.” “I mean, there are no […]
Housing affordability is worse than in the 1980s even with lower mortgage rates.
Mortgages, Home Prices, and the American Dream Whenever the conversation turns to current mortgage rates, you can be sure someone will chime in with a familiar refrain: “You think 7.5% is high? I was paying 14% back in the 1980s!” While they’re correct about the sheer interest rate, they’re missing a larger issue. GEN Z […]
Trump forms committee to look into Fed Governor Lisa Cook’s claims about mortgage fraud
President Trump has set up a special committee to look into claims that Federal Reserve Governor Lisa Cook made false statements. This follows accusations from the White House regarding mortgage fraud. This action marks a significant escalation in Trump’s ongoing attempts to dismiss Cook, who was nominated by former President Biden, especially after the Supreme […]
How a Recent Change in Mortgage Rules Might Increase Interest Rates and Lead to Higher Costs for Homebuyers
Potential Mortgage Changes Could Cost Homebuyers More Homebuyers might think they’re saving a bit of money at the outset, but they could end up paying over $20,000 more throughout their mortgage. This doesn’t really align with the goal of making homeownership more accessible, especially as President Trump emphasizes affordability in housing. Buried in the home […]
10-year Treasury yield reaches highest level since 2002, increasing mortgage and loan expenses
10-Year Treasury Yield Reaches Highest Point Since 2002 During Thursday’s trading, the yield on the 10-year Treasury rose to its highest level since 2002, reflecting how elevated borrowing costs are affecting the broader economy and individual households. This year, yields on longer-term Treasurys have risen significantly due to several factors. Notably, the ongoing conflict in […]
Mortgage rates reach 7.28% — the highest point in almost 3 years
US Mortgage Rates Reach Three-Year High This week, the average long-term mortgage rate in the United States surged to its highest point in nearly three years. According to mortgage buyer Freddie Mac, the benchmark 30-year fixed-rate mortgage climbed to 7.28%, an increase from 7.03% just a week ago. This marks the most significant jump we’ve […]
Mortgage rates increase to 7.28%
Mortgage Rates Hit New Highs According to Freddie Mac, mortgage rates have risen to their highest level since November 2023. The latest Primary Mortgage Market Survey released by Freddie Mac on Thursday shows that the average rate for a 30-year fixed mortgage increased to 7.28%, a notable jump from the previous week’s 7.03%. To put […]
September sees record-high price reductions as mortgage rates rise
Challenges in the U.S. Housing Market Ryan Payne has sounded the alarm about the U.S. housing market, suggesting it’s facing a significant challenge due to a shortage of as many as 5 million homes. Meanwhile, Ed Brady, the Home Builders Institute President and CEO, emphasizes an urgent need to attract more individuals to skilled trades. […]
Considering retirement with a mortgage? Here’s when it might be wise to use retirement savings to pay it off.
Retiring while still having a home loan can be quite challenging. It puts pressure on borrowers to make a tough choice: Should they tap into their retirement savings to pay off the debt, or keep up with the monthly payments and safeguard their savings? There’s really no one-size-fits-all answer here. Continuously paying down a home […]