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 […]
Mortgage demand falters as interest rates rise for the first time in a month
DFW housing and macroeconomic analyst Amy Nixon said the longer interest rates are cut, the longer interest rates will remain high and “money is being made.” Key Metrics Home purchase Applications fell to a three-month low as mortgage rates began to rise again. Mortgage Bankers Association (MBA) Home loan application New data released Wednesday showed […]
Want to buy a new home but keep your low-interest rate? Try this simple mortgage hack
High interest rates are one of the biggest obstacles facing buyers entering the housing market today: As anyone who has bought a home in the past few years knows, interest rates have more than doubled since 2020. For a 30-year fixed-rate mortgageAverage interest rates these days are in the mid 6% to 7% range. So […]
Mortgage rates fall below 7% in boost for homebuyers
The average rate on a 30-year mortgage fell this week to just below 7% for the first time since mid-April, providing a slight boost to homebuyers trying to weather a housing market slumped by rising prices and relatively few homes available. Mortgage buyer Freddie Mac said Thursday that interest rates fell to 6.94 percent from […]
Mortgage rates dip below 7%
Madison Ventures Managing Director Mitch Rochelle analyzes the housing market and reveals some of the best places to live outside of the big cities on The Big Money Show. Mortgage interest rates Rising house prices weighed on the housing market, which fell for the third straight week and fell below 7% for the first time […]
Ex-Baltimore prosecutor Marilyn Mosby to be sentenced for mortgage fraud and perjury convictions
A former top prosecutor in Baltimore City is scheduled to be sentenced this week on charges of lying about his personal finances to gain unauthorized access to retirement funds during the COVID-19 pandemic. The sentencing of former Baltimore state’s attorney Marilyn Mosby is scheduled to begin Thursday in federal court in Greenbelt, a Maryland suburb […]
Home sales drop in April amid high mortgage rates and rising prices
High mortgage rates and rising prices continued to put a damper on the spring home-buying season last month. Existing home sales in April fell 1.9 percent to a seasonally adjusted annual rate of 4.14 million, from a revised 4.22 million in March, the National Association of Realtors said Wednesday. Sales were down nationwide, with declines […]
Home Sales Fell Again in April After High Mortgage Rates Damped Activity
“The Big Money Show” features Madison Ventures Managing Director Mitch Rochelle breaking down the housing market and highlighting some of the best places to live outside of big cities. Home sales fell for a second straight month in April as high mortgage rates and near-record home prices continue to stifle a thriving market. Existing home […]
Existing Home Sales Fall Amid Skyrocketing Prices and High Mortgage Rates
Sales of existing homes in the U.S. fell sharply in April as prospective buyers struggled with the prohibitively expensive housing market. The National Association of Realtors (NAR) announced Wednesday that home sales fell 1.9% in April to an annualized rate of 4.14 million units. The figure, which represents the number of homes that would be […]
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 […]