Mortgage rates increase to 6.72%
Housing Market Updates Lance Lambert, co-founder and editor-in-chief of Resiclub, is currently addressing substantial worries about the housing market, particularly around profitability. Freddie Mac shared its latest primary mortgage market insights on Thursday, revealing that the average rate for benchmark 30-year fixed mortgages increased to 6.72%, up from last week’s 6.67%. Just a year ago, […]
Mortgage rates decrease to 6.77%
US Real Estate Market Set for Changes Experts in the real estate industry believe significant changes are on the horizon for the US housing market in the coming months. According to mortgage buyer Freddie Mac, mortgage interest rates have dropped to their lowest levels in four weeks as of Thursday. Their latest primary mortgage market […]
FHFA instructs Fannie Mae and Freddie Mac to evaluate crypto as a mortgage asset
Housing Market Update: Cryptocurrency Considered as Mortgage Assets U.S. housing regulators are now requiring Fannie Mae and Freddie Mac to factor cryptocurrencies into their risk assessments for single-family mortgages. William Prute, the director of the Federal Housing Finance Agency (FHFA), announced this directive on social media, stating that he has ordered the government-sponsored enterprises to […]
National Regulator Begins to Explore the Inclusion of Cryptocurrency in Mortgage Applications
FHFA Director Signals Change in Mortgage Application Process William Plute, the Director of the Federal Housing Finance Agency, has recently issued instructions to Fannie Mae and Freddie Mac. These guidelines suggest incorporating cryptocurrency holdings when assessing assets in mortgage applications. By recognizing cryptocurrencies as valid assets, borrowers who possess digital currencies could strengthen their financial […]
Home sales drop more than anticipated as high mortgage rates reduce demand
In May, the sale of new homes in the U.S. dropped more than analysts had anticipated, largely due to rising mortgage rates and an influx of unsold properties on the market. According to the Commerce Department’s Census Bureau, new home sales fell by 13.7%, adjusting the annual rate to 623,000 units. This is a significant […]
May home sales slow down as elevated mortgage rates keep buyers at bay
US Home Sales Show Unexpected Increase Amid High Mortgage Rates In May, existing home sales in the United States rose unexpectedly, but the overall trend continues to be relatively weak, largely due to elevated mortgage rates. The National Association of Realtors (NAR) reported on Monday that home sales climbed by 0.8% last month, reaching a […]
I’m 59 and eager to retire soon, but I still owe $81,000 on my mortgage. Will I have to keep working until it’s settled?
Imagine this: Brenda, who’s 59, single, and childless, is considering retirement. The catch? She still owes $81,000 on her mortgage. It seems reasonable that she might want to stick with her job until that’s paid off. If Brenda retires while still having a mortgage, she’d be part of a growing trend among older Americans. Back […]
Mortgage rates decrease to 6.84%
Changes Ahead for the US Real Estate Market Experts in the industry believe that the US real estate market is set to undergo significant changes in the near future. According to Freddie Mac, a mortgage buyer, the average rate for a 30-year fixed mortgage has decreased slightly to 6.84% from last week’s 6.85%. Interestingly, this […]
Unexpected rise in new home sales despite elevated mortgage rates
US New Home Sales Hit Three-Year High In April, sales of new detached homes in the United States rose to their highest level in over three years, driven largely by builders lowering prices to attract more buyers. However, rising mortgage rates and ongoing economic uncertainty continue to pose challenges for the housing market. The Commerce […]
Mortgage rates increase to 6.86%
Mortgage Rates Rise and Home Sales Decline Bill Prute, the director of the Federal Housing Finance Agency, has weighed in on whether President Donald Trump’s policies have made home ownership more accessible through financial means. Freddie Mac reported on Thursday that the average rate for 30-year fixed mortgages climbed to 6.86%, up from last week’s […]