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
The Trump administration moved swiftly to deliver its deregulatory agenda to the mortgage industry in the president’s first 100 days. Some of those many changes could lead to lower housing costs, following President Trump’s day one executive order to address the constrained housing market. Other rollbacks of Biden-era initiatives and politically motivated actions however will
More British homeowners are opting for equity release, a report has found. The Equity Release Council reported a 32% increase between the first quarter of 2024 and the same period this year. It is the fourth successive quarter of growth recorded by this market. David Forsdyke, head of later life finance at Knight Frank Finance,
A reader wonders whether their recent drop in income will affect their mortgage options Is the mortgage market turbulence getting you down? Have you got a mortgage-related question you need answering? Email in and we’ll get one of our experts to reply. Nick Mendes, mortgage technical manager at John Charcol, has given his advice to
A Trump administration-aligned legal watchdog group is demanding a state probe into bombshell accusations of mortgage fraud recently leveled at New York Attorney General Letitia James. America First Legal (AFL) filed a complaint against James with the New York State Unified Court System’s Committee on Professional Standards, which oversees disciplinary matters for lawyers licensed in
Key Takeaways For a second week in a row, mortgage rates have eased lower. That’s welcome news after the massive surge earlier this month, triggered by President Trump’s various tariff announcements. Rates on new 30-year fixed-rate loans have dropped 22 points over two weeks, dipping further below the 7% mark at 6.92%. 15-year rates have
Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.92% -0.07 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.51% -0.13 20-Year Fixed 6.66% -0.15 15-Year Fixed 6.00% -0.09 FHA 15-Year Fixed 6.82% No Change 10-Year Fixed 5.81% -0.24 7/6 ARM 7.41% -0.03 5/6 ARM 7.40% -0.05 Jumbo 30-Year Fixed 6.91% -0.13 Jumbo 15-Year
Last week, mortgage rates nearly topped 7% as markets feared President Donald Trump would fire Federal Reserve Chair Jerome Powell. After he said he has “no intention” of firing Powell, rates receded. But the turmoil likely isn’t over for mortgage rates. The economic effects of Trump’s trade war have yet to play out. If tariffs
This article was written by Follow David A. Johnson is founder and principal of Endurance Capital Management, a New Jersey Limited Liability Company. As an investor entrepreneur, David invests in stocks, bonds, options, ETFs, REITs, real estate, closed end funds and alternative investment funds such as hedge funds and private credit. With over 30 years’