The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 6.77% from 6.79% Applications to refinance a home loan rose 9% for the week and were 56% higher than the same week one year ago. Applications for a mortgage to purchase a home also rose 9% for the week and
Stay informed with free updates Simply sign up to the UK property myFT Digest — delivered directly to your inbox. Chancellor Rachel Reeves will next week launch a permanent mortgage guarantee scheme to help first-time buyers get on the housing ladder during times of economic stress. Reeves will confirm the government-backed scheme in her Mansion
Help from the Federal Reserve in the form of lower benchmark rates is unlikely to arrive this month. The CME Group’s FedWatch tool on Tuesday showed that 95% of interest rate traders believe the federal funds rate will remain in a range of 4.25% to 4.5% when the Federal Open Market Committee meets at the
The Right Mortgage & Protection Network has added April Mortgages to its panel. Member firms now have access to April Mortgages’ full range of five to 15-year fixed-rate mortgages including its 100% LTV deal. April’s products have no early repayment charges for moving home or clearing the mortgage in full and there is penalty or
Key Takeaways Though mortgage rates have been falling since a mid-May surge, they’ve now inched up a bit. The increase so far is minor, keeping 30-year rates within just 6 basis points of a recent three-month low. 30-year rates ended last week at a 6.82% average—30 basis points below the May 23 peak of 7.12%.
MORTGAGE experts have weighed in on whether you should take a mortgage break if you’re struggling to pay your bills. This is a type of agreement between you and your lender where you temporarily pause or reduce your payments. 1 We explain the pros and cons of asking for a mortgage breakCredit: Getty If you
Interest rate increases hit homeowners where it hurts most – their monthly budget. While Federal Reserve decisions might seem abstract, their impact on mortgage payments is painfully concrete. Understanding this connection helps you protect your finances whether you’re house hunting or managing an existing mortgage. Rate changes translate directly to your wallet Federal Reserve rate
WILKES-BARRE — Gov. Josh Shapiro this week signed House Bill 1103 into law — known as Act 16 of 2025. The law will take effect in 60 days and amends the Mortgage Licensing Act (MLA) to clarify that discount points may be collected on first and secondary mortgage loans made by non-bank mortgage lenders
Mortgage rates edged slightly lower heading into the Fourth of July weekend, with the national average for a 30-year fixed mortgage settling at 6.75%—a 2 basis point drop from earlier this week. The latest data from Zillow shows a continuation of the mild rate fluctuations that have characterized much of the 2025 mortgage market. Current
Mortgage rates moved down this week, with the 30-year fixed rate averaging 6.72 percent, compared to 6.79 percent the previous week, according to Bankrate’s latest lender survey. Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.72% 6.89% 7.09% 6.80% 6.20% 15-year 5.85% 6.06% 6.51% 6.03% 5.40% 30-year jumbo 6.75%