By MATT OTT, AP Business Writer WASHINGTON (AP) — The average rate on a 30-year mortgage in the U.S. fell this week for the first time in a month, but borrowing costs for homebuyers remain elevated. The long-term rate dipped to 6.85% from 6.89% last week, mortgage buyer Freddie Mac said Thursday. A year ago,
A homeowner is on a mission to be mortgage-free by the time she turns 40 – and is using a shopping app to help her achieve her goal A woman shopping at a supermarket – she and others could take advantage of the app(Image: Getty) A couple have been using a shopping app to shave
Mortgage applications in the U.S. fell for a third consecutive week. Applications across the country were down 3.9% for the week ending May 30, according to seasonally adjusted data from the Mortgage Bankers Association’s Weekly Mortgage Applications Survey. For the week ending May 23, applications had gone down 1.2% from the prior week, and for
Key Takeaways Though the Fed has so far kept its benchmark rate steady in 2025, at least one rate cut is expected this year. If you’re house hunting, you may think waiting for the Fed rate to drop will lead to a lower mortgage rate. But this strategy is flawed. First, there’s no guarantee the
Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.97% -0.03 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.65% -0.01 20-Year Fixed 6.76% -0.05 15-Year Fixed 5.96% -0.08 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 6.00% No Change 7/6 ARM 7.25% -0.01 5/6 ARM 7.13% +0.10 Jumbo 30-Year Fixed 6.95% -0.08 Jumbo
The US housing market has been brutal for buyers to navigate in the last few years, leaving house hunters wondering when conditions might ease. Goldman Sachs shared three predictions this week about where things may be headed. The bank updated its forecast for the path of mortgage rates, predicted the impact of Donald Trump’s possible
Mortgage rates in the U.S. just climbed to their highest level of the year, putting new pressure on prospective homebuyers and reshaping the housing market as summer gets underway. According to Freddie Mac’s latest survey, the average rate on a 30-year fixed mortgage is now 7.12 percent—the highest it’s been since November 2023. This marks
The 30-year conforming rate has been relatively volatile since the start of the year, but its low point for 2025 came on April 11 when it reached 6.69%. That’s a higher number than many consumers and mortgage professionals would like, although home sales and mortgage demand are up from one year ago. Fed’s Waller on
Loan Type New Purchase Rates Daily Change 30-Year Fixed 7.00% +0.01 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.66% +0.01 20-Year Fixed 6.81% +0.03 15-Year Fixed 6.04% +0.03 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 6.00% +0.08 7/6 ARM 7.26% -0.03 5/6 ARM 7.03% -0.11 Jumbo 30-Year Fixed 7.03% +0.07 Jumbo 15-Year
In this story, we’ll break down the top mortgage lenders and how buyers can qualify for the lowest … More rates available. Getty Creative Is the housing market finally tilting in buyers’ favor? The latest numbers suggest it is, but getting a good deal still depends on more than just timing. Mortgage rates can vary