Average long-term US mortgage rate drops a 5th straight week
April 13, 2023 GMTThe average long-term U.S. mortgage rate inched down for the fifth straight week, positive news for potential home buyers and a real estate market that’s been chilled by the Federal Reserve's series of interest rate hikes the past year.
Average 30-year mortgage rate dips as spring season opens
April 6, 2023 GMTThe average long-term U.S. mortgage rate dipped for the fourth straight week, a good sign for potential home buyers and a real estate market that's been mostly cold since the Federal Reserve began raising interest rates more than a year ago.
Average long-term mortgage rate at lowest level in six weeks
March 30, 2023 GMTThe average long-term U.S. mortgage rate inched down this week to its lowest level in six weeks, just as the spring buying season gets underway.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell for the third straight week, to 6.32%, from 6.42% last week.
Average long-term US mortgage rate falls to 6.42% this week
March 23, 2023 GMTThe average long-term U.S. mortgage fell for the second straight week which, combined with moderating home prices, could give house hunters a break and the housing market a boost as the spring buying season begins.
Average long-term US mortgage rates come back down to 6.6%
March 16, 2023 GMTThe average long-term U.S. mortgage inched back down this week after five straight weeks of increases, good news for homebuyers as the housing market's all-important spring buying season gets underway.
Despite market slump, high rates dim homebuyer affordability
March 15, 2023 GMTLOS ANGELES (AP) — Homeownership is likely to remain a pipe dream for many Americans this spring homebuying season.
The nation’s worst housing slump in nearly a decade stoked hope among prospective buyers that homes could be scooped up more easily.
Average long-term US mortgage rate hits 3-month high
March 2, 2023 GMTThe average long-term U.S. mortgage rate hit a three-month high this week, reflecting higher Treasury yields and expectations that the Federal Reserve will continue to raise its benchmark rate and keep it there until inflation recedes.
Average long-term US mortgage rate jumps to 6.5% this week
February 23, 2023 GMTThe average long-term U.S. mortgage rate jumped this week to its highest level since November, more grim news for a housing market that's been in decline for a year.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate rose to 6.5% from 6.32% last week.
Average long-term US mortgage rate jumps to 6.32% this week
February 16, 2023 GMTThe average long-term U.S. mortgage rate jumped this week to its highest level in five weeks, bad news for home shoppers heading into the spring buying season.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate rose to 6.32% from 6.12% last week.
What mortgage company changes mean for your home loan
February 14, 2023 GMTIt’s been a bumpy ride for mortgage companies lately. Some lenders have gone out of business, merged with other companies or narrowed their focus. And more changes are likely in 2023.
More homeowners tap equity juiced by soaring prices
February 10, 2023 GMTLOS ANGELES (AP) — Homeowners are increasingly tapping their equity, taking advantage of big gains following years of soaring housing prices.
Some 333,537 home equity loans were taken out by homeowners in the third quarter last year, according to data from TransUnion.
Average long-term US mortgage rates inch back up this week
February 9, 2023 GMTThe average long-term U.S. mortgage rate ticked up slightly this week after four weeks of declines, a possible sign of stability that could draw in home shoppers with spring buying season weeks away.
Two Harbors Investments: Q4 Earnings Snapshot
February 8, 2023 GMTST. LOUIS PARK, Minn. (AP) — ST. LOUIS PARK, Minn. (AP) — Two Harbors Investments Corp. (TWO) on Wednesday reported a loss of $270.2 million in its fourth quarter.
The St. Louis Park, Minnesota-based company said it had a loss of $3.04 per share.
Average long-term mortgage rate falls a fourth straight week
February 2, 2023 GMTThe average long-term U.S. mortgage rate declined for the fourth week in a row, a sign of relative stability that could potentially open the door for some prospective homebuyers to get back in the market.
US home sellers get while the gettin’s good
January 26, 2023 GMTLOS ANGELES (AP) — Homeowners who held off on selling their home in 2022 as the housing market slowed missed out on a windfall and may have to settle for slimmer profits if they opt to sell this year.
Average long-term mortgage rate at lowest level in 4 months
January 26, 2023 GMTThe average long-term U.S. mortgage rate fell to its lowest level in more than four months, giving some relief to homebuyers faced with higher prices for just about everything, including homes.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate inched down to 6.13% from 6.15% last week.
Senate panel advances long-stalled campaign finance reform
January 24, 2023 GMTRICHMOND, Va. (AP) — A Virginia Senate committee advanced a bill Tuesday that would prohibit lawmakers from using campaign funds for personal expenses like a mortgage or country club membership — a change lawmakers have long resisted adopting.
Average long-term US mortgage rate lowest since September
January 19, 2023 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate fell this week to its lowest level since September, a potential boost to the housing market which has been in decline for nearly a year.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.15% from 6.33% last week.
Insider Q&A: Redfin CEO Glenn Kelman
January 17, 2023 GMTLOS ANGELES (AP) — Soaring mortgage rates knocked the housing market into a deep slump in 2022, and the prospects of a swift turnaround in 2023 look dim, especially with the average rate on the benchmark 30-year mortgage still hovering above 6%, or double what it was this time last year.
Bank to pay $31M redlining settlement, DOJ’s largest ever
January 12, 2023 GMTNEW YORK (AP) — The Justice Department accused Los Angeles-based City National Bank on Thursday of discrimination by refusing to underwrite mortgages in predominately Black and Latino communities, requiring the bank to pay more than $31 million in the largest redlining settlement in department history.
Average long-term US mortgage rate comes back down this week
January 12, 2023 GMTWASHINGTON (AP) — After two straight weekly increases, the average long-term U.S. mortgage rate came back down again this week but remains a significant hurdle for many prospective homebuyers.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.33% from 6.48% last week.
Average long-term US mortgage rates inch up to 6.48%
January 5, 2023 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate rose for the second straight week following six weeks of declines that had given prospective homebuyers a glimmer of hope.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate inched up to 6.48% this week from 6.42% last week.
Mortgage rates’ rise has led to wide gap with US bond yields
December 29, 2022 GMTLOS ANGELES (AP) — Economists are baffled by a wider-than-usual divergence between long-term mortgage rates and the yield on the benchmark U.S. government bond that is driving a sharp rise in borrowing costs and helping to torpedo the U.S.
Average mortgage rates rise after 6 weeks of declines
December 29, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate rose this week after falling for six straight weeks, adding to the challenges potential homebuyers face amid higher home prices and a limited supply of available houses.
Average long-term US mortgage rate falls a 6th straight week
December 22, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate declined for the sixth straight week, giving potential homebuyers a tiny amount of relief after rates topped out over 7% last month.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate dipped to 6.27% this week from 6.31% last week.
Wells Fargo to pay $3.7B over consumer law violations
December 20, 2022 GMTWASHINGTON (AP) — Consumer banking giant Wells Fargo agreed to pay $3.7 billion to settle charges that it harmed customers by charging illegal fees and interest on auto loans and mortgages, as well as incorrectly applying overdraft fees against savings and checking accounts.
Insider Q&A: Mat Ishbia, CEO of United Wholesale Mortgage
December 19, 2022 GMTLOS ANGELES (AP) — The housing market has slowed sharply this year as mortgage rates surged to a 20-year high, reducing homebuyers’ purchasing power at a time when home prices have kept climbing.
The average rate on the benchmark 30-year home loan has been falling in recent weeks, but remains double what it was a year ago, according to mortgage buyer Freddie Mac.
Average long-term US mortgage rates inch down this week
December 15, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate declined for the fifth straight week, even as the Federal Reserve just raised its key borrowing rate for the seventh time this year and signaled there were more to come in 2023.
AIG unit that had big role in 2008 crisis nears official end
December 14, 2022 GMTNEW YORK (AP) — A unit of American International Group that played an outsized role in the 2008 global financial crises is nearing its official end.
Gimme shelter: fewer homes being built as builders pull back
December 8, 2022 GMTLOS ANGELES (AP) — Homebuilders have pumped the brakes on new single-family home construction this year, a trend that’s likely to extend into 2023, according to several forecasts.
Single-family housing starts were running at a seasonally adjusted annual pace of about 1.16 million properties in January, when the average rate on a 30-year mortgage hovered below 4%.
Average long-term mortgage rate falls a fourth straight week
December 8, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate fell for the fourth consecutive week and have dropped more than three-quarters of a point since hitting a 20-year high last month.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate dipped to 6.33% from 6.49% last week.
Average long-term US mortgage rates dip third week in a row
December 1, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate ticked down for the third week in a row and have fallen more than a half-point since hitting a 20-year high less than a month ago.
Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate fell to 6.49% from 6.58% last week.
High mortgage rates send homebuyers scrambling for relief
November 23, 2022 GMTLOS ANGELES (AP) — Mortgage rates are more than double what they were a year ago, so many homebuyers are looking for ways to put off some of the pain for a few years.
The trend has driven adjustable-rate mortgages, or ARMs, to the highest usage in over a decade.
Average long-term US mortgage rate slips to 6.58%
November 23, 2022 GMTLOS ANGELES (AP) — The average long-term U.S. mortgage rate has edged lower for the second time in as many weeks, though it remains more than double what it was a year ago —- a significant hurdle for many would-be homebuyers.
US home sales fell in October for ninth straight month
November 18, 2022 GMTSales of previously occupied U.S. homes fell in October for the ninth consecutive month to the slowest pre-pandemic sales pace in more than 10 years as homebuyers grappled with sharply higher mortgage rates, rising home prices and fewer properties on the market.
Average long-term US mortgage rates tumble to 6.61%
November 17, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate tumbled by nearly a half-point this week, but will likely remain a significant barrier for potential homebuyers as Federal Reserve officials have all but promised more rate hikes in the coming months.
‘Zombie Debt’: Homeowners face foreclosure on old mortgages
November 16, 2022 GMTRose Prophete thought the second mortgage loan on her Brooklyn home was resolved about a decade ago — until she received paperwork claiming she owed more than $130,000.
“I was shocked,” said Prophete, who refinanced her two-family home in 2006, six years after arriving from Haiti.
Average long-term US mortgage rate back above 7% this week
November 10, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate returned to the 20-year highs of two weeks ago when rates breached 7% for the first time since 2002.
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate rose to 7.08% from 6.95% last week.
Redfin to cut another 13% of workforce, shutter RedfinNow
November 9, 2022 GMTWASHINGTON (AP) — Online real estate broker Redfin is cutting 862 employees and shutting down its instant-cash-offer subsidiary RedfinNow, another casualty of two-decade high interest rates stoked by the Federal Reserve's fight against inflation.
US average long-term mortgage rates back under 7%, for now
November 3, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate dipped back under 7% this week, one day after the Federal Reserve raised its benchmark borrowing rate to its highest level in 15 years as it tries to squelch four-decade high inflation.
US mortgage rates top 7% for the first time in 2 decades
October 27, 2022 GMTWASHINGTON (AP) — The average long-term U.S. mortgage rate topped 7% for the first time in more than two decades this week, a result of the Federal Reserve's aggressive rate hikes intended to tame the nation's stubbornly high inflation.
US home sales fell in September for eighth straight month
October 20, 2022 GMTSales of previously occupied U.S. homes fell in September for the eighth month in a row, matching the pre-pandemic sales pace from 10 years ago, as house hunters grappled with sharply higher mortgage rates, rising home prices and a still tight supply of properties on the market.
Average long-term US mortgage rates rise this week to 6.94%
October 20, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month.
Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate ticked up this week to 6.94% from 6.92% last week.
Average long-term US mortgage rates up another quarter point
October 13, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates reached their highest level in more than two decades this week and are likely to climb further as the Federal Reserve has all but promised more rate increases in its battle to tamp down persistent inflation.
Average long-term US mortgage rates dip to 6.66% this week
October 6, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008.
Millennial Money: You nixed your homebuying plan. What now?
October 4, 2022 GMTMillennials are in peak nesting mode. We want the outdoor space many apartments lack, or the room to grow that a starter house doesn’t offer. There’s just a not-so-small problem.
US long-term mortgage rates up for 6th week; 30-year at 6.7%
September 29, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years, before a crash in the housing market triggered the Great Recession.
Homeowners see slower equity gains as housing market cools
September 29, 2022 GMTLOS ANGELES (AP) — Homeowner equity climbed to record highs in the first half of this year, though its rate of growth is slowing as the housing market cools.
Average homeowner equity per borrower reached $298,380 in the second quarter, according to data from CoreLogic.
Average US long-term mortgage rates climb to 6.29% this week
September 22, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates jumped by more than a quarter-point this week to their highest level since 2008 as the Federal Reserve intensified its effort to tamp down decades-high inflation and cool the economy.
US home sales slipped, prices grew more slowly in August
September 21, 2022 GMTSales of previously occupied U.S. homes slowed in August for the seventh month in a row, as sharply higher mortgage rates and rising prices made homebuying less affordable, further cooling the once red-hot housing market.
Mortgage rates hit 6%, first time since 2008 housing crash
September 15, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates climbed over 6% this week for the first time since the housing crash of 2008, threatening to sideline even more homebuyers from a rapidly cooling housing market.
As housing market cools, homebuyers regain leverage
September 8, 2022 GMTLOS ANGELES (AP) — Years of soaring home prices and sharply higher mortgage rates remain hurdles for many would-be homebuyers, but new data shows that they're regaining some leverage at the negotiating table as the housing market slows.
Long-term mortgage rates now at highest point since 2008
September 8, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates jumped again this week, hitting the highest levels in almost 14 years and pushing even more would-be buyers out of the market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.89% from 5.66% last week.
Mortgage rates rise to 5.66%, weighing on housing market
September 1, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose to their highest level in two months this week, providing no relief for a slumping housing market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.66% from 5.55% last week.
Small businesses feel the pinch from slowing housing market
August 27, 2022 GMTNEW YORK (AP) — The chill in the housing market is rippling out to the carpenters, landscapers and other small businesses that lose out when fewer homeowners are renovating their properties.
Inflation was already causing some homeowners to delay big renovation projects as prices for building materials, fixtures and appliances jumped.
Average US long-term mortgage rates rise; 30-year at 5.55%
August 25, 2022 GMTWASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week as inflation worries remained at the fore and the slowdown in economic growth weighs on the housing market.
Mortgage buyer Freddie Mac reported Thursday that the 30-year rate increased to 5.55% from 5.13% last week.
Liz Weston: 3 reasons not to tap your home equity right now
August 22, 2022 GMTSoaring real estate values mean many homeowners are awash in equity — the difference between what they owe and what their homes are worth. The average-priced home is up 42% since the start of the pandemic, and the average homeowner with a mortgage can now tap over $207,000 in equity, according to Black Knight Inc., a mortgage and real estate data analysis company.
Homeowning while Black: Couple alleges bias in appraisal
August 20, 2022 GMTNEW YORK (AP) — How much does it pay to hide the photos of your family at your home, or anything else that shows your race? If you’re Black and trying to find out how much your house is worth, one family suggests it could be hundreds of thousands of dollars.
US home sales fell in July; some buyers see silver lining
August 18, 2022 GMTLOS ANGELES (AP) — The housing market's comedown from its high-flying days early this year is deepening, with home sales in July falling for the sixth straight month.
Sharply higher mortgage rates, surging inflation and prices that remain near all-time highs are making homes less affordable.