Anyone chasing the dream of homeownership, get ready to clock in — and not just metaphorically, but literally. According to new data from Realtor.com, the average American must now work 10 full days a month to afford a median-priced home, which currently stands at a cool $412,000. In some corners of the country, that commitment
(NewsNation) — A typical monthly housing payment hit a record high of $2,807 during the last four weeks ending March 23, according to a study by Redfin. The 5.3% increase is a result of the average cost of home prices going up roughly 3% annually and mortgage rates sitting at 6.6%. “Buyers are cautious because they’re
If Fannie Mae is right, house hunters who wait to pull the trigger on a new home until later this year may be rewarded with lower mortgage rates. But waiting until 2026 may not provide much additional relief. That’s the upshot of a housing report released Friday by Fannie Mae, a government-sponsored enterprise that buys mortgages to
Rep. Mike Bost, R-Ill., chairman of the House Veterans’ Affairs Committee, has introduced legislation to cap the number of direct loans that the Department of Veterans Affairs can repurchase through the Veterans Affairs Servicing Program for delinquent agency-backed home loans. (Stars and Stripes) WASHINGTON — A mortgage bailout program that has kept more than 15,000
DWS Group has listed a 315,000-square-foot office building in San Francisco’s Financial District for around $95 million. The German-based investor put the 24-story building up for sale at 505 Montgomery Street for around $300 per square foot, the San Francisco Business Times reported, citing unidentified sources. The listing by Eastdil Secured would put the building
Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.81% -0.01 FHA 30-Year Fixed 7.26% -0.09 VA 30-Year Fixed 6.34% -0.01 20-Year Fixed 6.50% -0.05 15-Year Fixed 5.84% -0.04 FHA 15-Year Fixed 6.60% -0.20 10-Year Fixed 5.84% -0.22 7/6 ARM 7.31% -0.03 5/6 ARM 7.25% +0.09 Jumbo 30-Year Fixed 6.74% -0.03 Jumbo 15-Year Fixed 6.65%
A reverse mortgage can be an appealing option for senior homeowners looking to boost their income. Today, reverse mortgages have shed their shady reputations from years ago and are government-backed loans well worth considering. However, with potentially high fees and stout interest charges, shopping for the best reverse mortgage company is more important than ever.
The agreed-to merger between Rocket and Mr. Cooper is the first large domino to fall in what is shaping up to be another year of consolidation. Mortgage lenders are still dealing with overcapacity, and in the fourth quarter, swung back to losses on production. On a pro forma basis, Monday’s deal would create an originator
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.82% -0.03 FHA 30-Year Fixed 7.35% No Change VA 30-Year Fixed 6.35% -0.10 20-Year Fixed 6.55% -0.08 15-Year Fixed 5.88% -0.07 FHA 15-Year Fixed 6.80% No Change 10-Year Fixed 6.06% No Change 7/6 ARM 7.34% -0.01 5/6
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.85% +0.02 FHA 30-Year Fixed 7.35% No Change VA 30-Year Fixed 6.45% -0.01 20-Year Fixed 6.63% +0.03 15-Year Fixed 5.95% -0.01 FHA 15-Year Fixed 6.80% No Change 10-Year Fixed 6.06% +0.35 7/6 ARM 7.35% +0.01 5/6 ARM