It’s important to choose the right mortgage loan term — especially while inflation is high. Getty Images While the inflation dropped slightly in February, it has been ticking back up overall over the last few months, and it’s changing how smart homebuyers approach their mortgages. If you’re in the market for a home this year
The chaos unfolding in financial markets has been exhausting for investors. Yet, for fatigued homebuyers, the market mayhem has come with a silver lining: mortgage rates are down. The 30-year mortgage rate has dropped for six straight weeks as bond yields have slipped. A chaotic few weeks for financial markets have produced one perk for
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.63% -0.01 FHA 30-Year Fixed 6.80% -0.13 VA 30-Year Fixed 6.17% +0.03 20-Year Fixed 6.36% +0.03 15-Year Fixed 5.73% +0.01 FHA 15-Year Fixed 6.39% -0.07 10-Year Fixed 5.46% -0.30 7/6 ARM 7.10% +0.02 5/6 ARM 7.14% -0.06
New allegations tied to a mortgage fraud scandal that rocked the industry and landed an executive in federal prison now implicate JPMorgan, the lender on the deal, and the borrower — New York’s Chetrit Group. Wells Fargo, which filed suit in federal civil court as trustee on a $481 million CMBS loan, alleges JPMorgan knew
The average US 30-year mortgage rate declined for a sixth straight week to the lowest level since early December, sparking a pickup in purchase and refinancing activity. The contract rate on a 30-year mortgage slipped 6 basis points to 6.67% in the first week of March, according to Mortgage Bankers Association data released Wednesday. The
Mortgage rates are on a bit of a downward trend, with the average rate on a 30-year fixed mortgage dropping from the 6.9% range in early February to around 6.7% this week. But a shaky economy will likely keep the housing market frozen for a while. US stocks tumbled after President Donald Trump refused to
Building Homes for Heroes and Petite Group’s Built to Honor program have broken ground and partnered to build a mortgage-free home for a three-tour Iraq veteran, David Halona. This service follows the emotional moment on Oct. 26, 2024, when Sergeant Halona and his family were surprised with the news that they would be receiving a
“And that’s not going to change with the rates pulling back a little bit. Having learned how to successfully close a couple of non-QM loans, they’re not going to, all of a sudden, stop doing that. They’re going to continue, so I’m excited about that.” Focusing solely on agency and government-type loans once the market
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. The rate on a 30-year fixed refinance fell today. The current 30-year, fixed-rate mortgage refinance rate is averaging 6.94%, according to Curinos, while 15-year, fixed-rate refinance mortgages average of 6.08%. For 20-year mortgage refinances,
Delinquencies are up as Americans feel the pain of continued inflation and other stresses on the economy. The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97% at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey. Marina Walsh, MBA’s vice president of