Mortgage rates drop for third week in a row, but home buyers remain reluctant
Mortgage rates may be falling, but buyers aren’t convinced now is the right time to buy. (iStock ) There’s good news and bad news about mortgage rates this week. The good news is that rates continue their gradual downward trend, with a 30-year fixed rate mortgage averaging 6.87%. Freddie Mac is. While this is encouraging, […]
Florida’s state-backed home insurance to raise rates 14%
Florida’s government-backed home insurers plan to raise premiums by 14 percent, another blow to more than 1 million hurricane-ravaged state residents who already have some of the highest insurance rates in the country. The state’s People’s Property Insurance Corp. board of directors voted unanimously Wednesday to raise premium rates for next year, even though nine […]
Bank of England holds rates at 5.25% – Financial Times
Stay up to date with free updates Just sign up UK interest rates myFT Digest – delivered straight to your inbox. The Bank of England’s “delicately balanced” decision to keep interest rates unchanged at 5.25% just two weeks before the UK’s July 4 general election, dealt a blow to Conservative hopes of improving personal finances. […]
ForexLive Asia-Pacific FX news wrap: China leaves prime rates on hold, marks down CNY – ForexLive
New Zealand’s first quarter GDP data released today showed the country emerged from recession with growth of 0.2% quarter-on-quarter and 0.3% year-on-year, both better than expected. Growth details were weak. NZD/USD rose above 0.6145 on data release before giving back modest gains. A survey of Japanese businesses found that only 7% believe that Kishida’s promise […]
Mortgage rates drop below 7% for first time since March
Mortgage rates fell below 7% last week for the first time since March, encouraging more homebuyers to apply for loans. The 30-year fixed mortgage rate fell to 6.94% from 7.02% in the week ending June 14, according to data released Wednesday by the Mortgage Bankers Association. The five-year adjustable-rate mortgage fell to 6.27% from 6.45%, […]
Bank of England set to hold interest rates despite inflation hitting 2% target – CNBC
As of 11 a.m. in London, financial market prices suggested the chances of a rate cut were just 5 percent. At its meeting on Thursday, the BOE cut the bank rate as such measures became more likely. Earlier this week, expectations of an August rate cut also dropped to around 30%. While the 2% inflation […]
Fitch Doesn’t See Bottom of Office CRE Mess, Sees CMBS Delinquency Rates Spike Way Past Financial Crisis Peak in 2025
Estimated Reading Time: 2 minutes A big driver is the “secular decline in the office market” that even slashed interest rates would not end. There has been a recent flurry of declarations by big fund managers with exposure to the office sector of commercial real estate that office CRE has “bottomed out,” or is “near […]
Mortgage rates on the decline while applications rise: Freddie Mac
Mortgage rates are likely to continue to fall as the Federal Reserve has signaled it will start cutting interest rates. (iStock) Mortgage rates fell for a second straight week in response to positive economic data, according to Freddie Mac. According to Freddie Mac’s latest report, the average 30-year fixed-rate mortgage for the week ending June […]
This week’s personal loan rates rise for 3-year loans, while 5-year terms plummet
At Credible Operations, Inc. (NMLS No. 1681276, hereafter referred to as “Credible”), our goal is to give you the tools and confidence you need to improve your financial situation. While we promote products from partner financial institutions from whom we receive compensation for our services, all opinions are our own. We provide weekly updates on […]
Fed leaves interest rates unchanged with just one cut projected by the end of 2024
Deflation is happening, but the Fed wants to wait for more evidence to lower interest rates. (iStock) The central bank said on Wednesday it would keep the federal funds rate in a range of 5.25% to 5.5%, the same as it has been since July last year. The decision was not unexpected and comes amid […]