Over the past couple of months, proprietary reverse mortgage activity has been expanding. The HECM market leader has rolled out a new product, leading lenders in the space are singing the praises of their products’ performance, and existing players have aimed to bring new variations to the market. Does this make it a challenge to
The average 30-year fixed mortgage rate fell to 6.96% on Monday, according to Zillow. This marks a 5-basis-point decline from last week’s average of 7.01%. Current mortgage rates for June 2, 2025 Conforming loans 30-Year Fixed: 6.96% (↓ 0.05%), APR 7.37% 20-Year Fixed: 6.79% (↓ 0.18%), APR 7.03% 15-Year Fixed: 6.01% (↓ 0.05%), APR 6.28%
Easing stringent mortgage stress testing rules could cause house prices and first-time buyer numbers to rise, according to research. More relaxed mortgage stress tests could see the number of first-time buyers purchasing a home rise by 24 per cent, or more than 80,000, over the next five years, Savills claims. Its analysis suggests more relaxed
If you’re an older homeowner looking for an infusion of cash, a reverse mortgage could seem like a no-brainer. there is no minimum credit score requirement and — as long as you stay current with your insurance premiums, home repairs and property taxes — no payments is due until you sell the house, stop living
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The return of the 100 per cent mortgage is gathering pace in the UK as lenders loosen their criteria in a bid to boost homebuying. April Mortgages and Gable Mortgages launched no-deposit deals this month
“Mortgage delinquency rates held steady at a low level in the first quarter of 2025. Roughly 40% of metropolitan areas showed increases in the overall delinquency rate, comparable to the share from the fourth quarter of 2024,” Molly Boesel, senior principal economist at Cotality, said in a statement. “Those areas posting the largest increases in
article FILE-A home is listed for sale in Palo Alto, CA, U.S. (Michael Short/Bloomberg via Getty Images) Mortgage rates are still stable after making a slight uptick despite unpredictability in the housing industry. Freddie Mac reported in its Primary Mortgage Market Survey that the 30-year fixed-rate mortgage (FRM) increased this week to its highest level
Loan Type New Purchase Rates Daily Change 30-Year Fixed 7.00% -0.08 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.65% -0.04 20-Year Fixed 6.83% -0.11 15-Year Fixed 6.04% -0.04 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 5.97% -0.06 7/6 ARM 7.33% +0.01 5/6 ARM 7.25% +0.03 Jumbo 30-Year Fixed 6.94% -0.07 Jumbo 15-Year
Mortgage rates are showing signs of modest relief for homebuyers heading into summer 2025. According to the latest Zillow data, the national average for a 30-year fixed mortgage fell to 6.97% as of Friday, May 30, 2025. That’s down from 6.99% a day earlier, and 7.08% one week ago. This decline could translate to meaningful
Homeowners can find the prospect of paying back a six or even seven-figure sum daunting – Westend61 Mortgages are the one financial service you spend years trying to get, but then want to be rid of as soon as you can. For most of us, a mortgage is the key to getting on and climbing