We’re working from a record low bar Over the past two years, my theme has been: the bar for purchase apps is so low that we can trip over it. Also, millions of people buy homes each year —regardless of what is happening in the economy. Despite facing significant challenges in the 2008 housing crisis,
Mortgage rates are edging upward again, adding pressure for homebuyers navigating a difficult spring market. Economic uncertainty, inflation concerns, and trade tensions are keeping rates volatile—and today’s numbers reflect that. According to the latest data: 30-year fixed-rate mortgage: 6.83% (up 0.01% from last week) 15-year fixed-rate mortgage: 6.02% (down 0.01% from last week) 5/1 adjustable-rate
Danique Service- Smikle, business relationship manager at JN Bank, speaking at a recent workshop at the JN Group’s Corporate Offices in New Kingston. . AFTER weeks of paperwork, credit checks, and income verification, receiving a mortgage pre-approval often feels like crossing the finishing line. However, a mortgage expert has cautioned that this sense of security
Many 2025 housing market forecasts were hopeful that lower rates would’ve arrived by now to accompany the typical peak of the spring purchase season. But economic uncertainty sparked by President Donald Trump’s global tariff policies and resulting fears of rising inflation have kept rates near 7% for much of the year. Fed effects The Federal
The states with the cheapest 30-year new purchase mortgage rates Monday were New York, California, Florida, Missouri, Texas, Washington, and North Carolina. The seven states registered averages between 6.77% and 6.98%. Meanwhile, the states with the highest Monday rates were Alaska, West Virginia, Maine, Rhode Island, Washington, D.C., and South Dakota, followed by a large
Refinance rates moved higher again as of May 6, 2025, according to the latest data from the Mortgage Research Center. The 30-year fixed refinance rate rose to 6.92%, while the 15-year fixed rate dropped slightly to 5.76%. 30-year fixed refinance rates move up The average 30-year fixed-rate refinance hit 6.92%, up from 6.10% a week
This is according to HECM endorsement data compiled by Reverse Market Insight (RMI), and HMBS issuance data from Ginnie Mae and private sources compiled by New View Advisors. HECM endorsements, HUD data Jon McCue, RMI’s director of client relations, told HousingWire’s Reverse Mortgage Daily (RMD) that rate movements are the likely culprit behind last month’s
Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.95% +0.07 FHA 30-Year Fixed 7.33% No Change VA 30-Year Fixed 6.56% +0.12 20-Year Fixed 6.70% +0.10 15-Year Fixed 5.97% +0.04 FHA 15-Year Fixed 6.63% No Change 10-Year Fixed 5.99% -0.04 7/6 ARM 7.34% +0.05 5/6 ARM 7.20% +0.10 Jumbo 30-Year Fixed 6.90% +0.11 Jumbo 15-Year
INTEREST rates are likely to fall at the fastest pace since the 2008 financial crash, economists are predicting. The Bank of England is widely expected to cut its base rate on Thursday from 4.5% to 4.25%. 1 Mortgage lenders have been slashing interest rates in recent weeksCredit: Alamy This would mark the second rate reduction
Mortgage rates increased across most term lengths today, according to new data from Zillow. The average 30-year fixed mortgage rate rose by nine basis points to 6.70%, while the 15-year fixed rate climbed five basis points to 5.95%. Adjustable rates also moved higher, with the 5/1 ARM jumping 15 basis points to 6.88%. The Federal