The labor market is humming along in spite of headwinds from the Trump administration’s tariffs. Until we see signs of weakening in the economy, mortgage rates are likely to remain near their current levels. On Friday, the Bureau of Labor Statistics reported that the U.S. economy added 177,000 jobs in April, more than expected. The
Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.88% -0.02 FHA 30-Year Fixed 7.33% No Change VA 30-Year Fixed 6.44% -0.02 20-Year Fixed 6.60% -0.02 15-Year Fixed 5.93% No Change FHA 15-Year Fixed 6.63% No Change 10-Year Fixed 6.03% +0.28 7/6 ARM 7.29% +0.02 5/6 ARM 7.10% +0.07 Jumbo 30-Year Fixed 6.79% -0.04 Jumbo
When you buy through links on our articles, Future and its syndication partners may earn a commission. The U.S. Department of Veterans Affairs headquarters is seen in Washington, D.C. | Credit: Al Drago / Bloomberg via Getty Images The VA Servicing Purchase, or VASP, program was enacted by the Biden administration to help veterans avoid
How to use a bolt, nut, screw gauge Using a bolt, nut and screw gauge takes the guesswork out of your project, helping you quickly identify the exact size you need. Rates for home loans dipped, but consumers’ economic uncertainty continues to weigh down the housing market. In the week ending May 1, 30-year fixed-rate
Applying for a mortgage can be difficult, especially for people with nontraditional income sources, like self-employed workers, small business owners, gig workers, freelancers and anyone else who doesn’t receive a W2 from an employer. “The typical mortgage broker has a checklist,” Keith Hall, president and director of the National Association for the Self-Employed (NASE), told CNBC
Mortgage rates fell sharply this week, offering a rare window of relief for homebuyers and homeowners looking to refinance. The national average 30-year fixed mortgage rate dropped 28 basis points over the last week, landing at 6.59% as of today, according to Zillow. The 15-year fixed rate also declined by 27 basis points, reaching 5.91%.
Fears of an economic slowdown are expected to prompt a Bank of England rate cut next week – with more to follow – leading to potentially big savings for millions of mortgage borrowers The Bank of England could slash its base rate to 3.75% this year in a boost to the home sales(Image: Yui Mok/PA
Homebuyers continued to retreat last week despite relatively stable mortgage rates as broader concerns about the economy and labor market weighed on demand. Mortgage applications to purchase a home fell 4% from the previous week, according to the Mortgage Bankers Association — marking the slowest pace of activity since February. The seasonally adjusted index showed
Mortgage rates might pogo up and down in May. By the end of the month, they could rise due to tariff-related inflation or fall in response to a tariff-induced economic slowdown. Keep in mind that we’re in exceptionally unpredictable times. Mortgage rates will probably be volatile in May, “because of growing uncertainty in the economy.
On an unadjusted basis, the index decreased 4% compared with the previous week. The refinance index decreased 4% from the previous week and was 42% higher than the same week one year ago. The refinance share of mortgage activity remained unchanged at 37.3% of total applications from the previous week. “Refinance activity dipped again, as