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 […]
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 […]
Fed unlikely to cut rates this year
Goldman Sachs Chief Executive David Solomon said Wednesday he doesn’t expect the Federal Reserve to cut interest rates this year. “I’m still at zero cuts,” Solomon said at the Boston University event. “I think we’re set for more sticky inflation.” His comments came after Federal Reserve policymakers said on Tuesday that the central bank should […]
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 […]
Fed meeting minutes show some ‘willingness’ to hike rates again
Gina Bolvin, president of Bolvin Wealth Management Group, discusses commodity movements, expected inflation data, the housing industry and the outlook for consumers. Fed officials expressed concern at their May policy meeting that inflation has stalled, but “many” believe policy is restrictive enough to contain price pressures in the economy. I questioned whether it was true. […]
Private student loan interest rates continue to fall for 5-year loans
Here 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 finances. We promote the products of financial institutions we work with in exchange for our services, but all opinions are our own. The latest private student loan […]
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 […]
Monthly car payments decline despite rising auto insurance rates
More than 17% of drivers who own a new car pay more than $1,000 per month. (iStock) The auto industry is becoming increasingly affordable, with monthly payments for a new car averaging $735 as of the first quarter. Although it is still at a high level, it is a slight decrease compared to the previous […]
Hundreds of Florida nursing homes close due to insurance rates
Rising Florida commercial property insurance premiums have forced hundreds of Florida nursing homes to close over the past five years. Over the five-year period ending in 2023, an average of 146 nursing homes or assisted living facilities closed each year in Florida, according to the Florida Agency for Health Care Administration. Over the same five-year […]