Mortgage rates rose this week as lenders steel themselves against a foggy economic future. The Federal Reserve predictably voted to hold the federal funds rate steady during central bankers’ March 19 meeting and spoke of a need for more solid data before making policy shifts. Mortgage lenders, on the other hand, can be more reactionary
If you’re falling behind on your mortgage payments, an unexpected call from your mortgage company or a government agency offering relief may sound like exactly what the doctor ordered, especially if your caller ID indicates that the source of the call is legitimate. But after providing personal identifiable information and financial details to the caller
Mortgage rates are trending downward from recent peaks. They could fall further if the economy continues to slow and the Fed cuts rates. However, that might not make it much easier to buy a house, some experts say. It’s getting cheaper to borrow money to buy a house. But would-be homebuyers shouldn’t celebrate prematurely. Lower
Homeownership is a symbol of financial stability for most Americans—but for those living in states where the cost of living is higher, it might seem like they’re working solely to keep a roof over their heads. The median home price nationally is $412,000, according to the Realtor.com February 2025 Monthly Housing Trends Report. Homeowners who purchase
By ALEX VEIGA, AP Business Writer Associated Press (AP) — The average rate on a 30-year mortgage in the U.S. rose slightly for the second week in a row, a modest setback for prospective home shoppers as the spring homebuying season ramps up. The rate rose to 6.67% from 6.65% last week, mortgage buyer Freddie Mac said
National Averages of Lenders’ Best Rates – New Purchase Loan Type New Purchase Rates Daily Change 30-Year Fixed 6.82% -0.02 FHA 30-Year Fixed 7.35% -0.01 VA 30-Year Fixed 6.42% -0.04 20-Year Fixed 6.58% -0.03 15-Year Fixed 5.97% -0.04 FHA 15-Year Fixed 6.80% +0.07 10-Year Fixed 6.06% +0.03 7/6 ARM 7.32% -0.03 5/6 ARM 7.20% -0.06
The base rate influences what you’re charged to borrow money – for example, if you have a mortgage or loan – as well as the return you get on your savings 12:00, 20 Mar 2025Updated 13:00, 20 Mar 2025 Bank of England has holds interest rates at 4.5% The base rate has been held at
The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the index decreased 6% from last week. The refinance index decreased 13% from the previous week, but was 70% higher than the same week one year ago. The seasonally adjusted
The newly appointed head of one of the nation’s top housing regulators tightened his grip on the agency with a major board shake-up on Monday at two government-controlled mortgage finance firms. William Pulte, the director of the Federal Housing Finance Agency, ousted 14 board members at Fannie Mae and Freddie Mac and named himself chairman
A 55-year-old woman from Staffordshire was left surprised after having her new mortgage application approved in just 12 minutes. Now, she is telling people in a similar situation to “just go for it” and not be scared to begin their own application. After her divorce, Michaela Kinnersley-Hill needed to buy a new home but had