Mortgage rates fell to their lowest levels since March because job growth has been surprisingly weak this summer. The 30-year fixed-rate mortgage averaged 6.7% in the week ending Aug. 7, down from 6.87% the previous week. It’s the lowest average rate since the week ending March 13, when it was 6.62%. A lousy jobs report
A homeowner was left feeling every single emotion after receiving a letter to say that her mortgage was paid off—but it wasn’t what she expected. On July 26, Marissa Kilroy from Southern Ohio received a “totally unexpected” letter from her lender that appeared to suggest her mortgage was paid off in full. She’s only lived
Mortgage valuers are increasingly putting prices on homes that are much less than they are likely to be worth, according to brokers – a practice they have called ‘atrocious’. Brokers across the industry have said valuers have become overly cautious with their estimates, at a time when property prices are flatlining. The mortgage valuation is
Key Takeaways With 30-year refinance rates at their lowest since March, homeowners paying upper-7% rates or higher could save thousands annually by refinancing now. Refinancing usually makes sense if you can secure a rate at least one percentage point lower than your current one. Refi rates could still drop, or they could rise again. Either
Facebook Tweet Email Link President Donald Trump and his economic advisers are planning a historic sale of stock in Fannie Mae and Freddie Mac, the government-owned mortgage giants that help provide stability and affordability to America’s home loan market. The plans, first reported by the Wall Street Journal, have not yet been finalized, and Trump
Manulife offers a good range of mortgage terms as well as unmatched flexibility on how you can structure your mortgage. Loan Types Manulife offers the following mortgage options: New mortgage Renewals Refinance Mortgage transfers/switches Investment properties (non-owner-occupied) in select communities across Canada Manulife does not offer financing options on: Leased land Mobile homes Vacant land
You shop around for a home loan or a home equity line-of-credit. You apply. Your mortgage loan originator asks and receives your permission to run credit reports. Almost immediately after that credit report is run, you and any of your co-applicants and co-signers are on the receiving end of a plethora of phone calls, text
A veteran Chicago police officer with a history of financial trouble has been indicted on federal bank fraud charges alleging he lied on loan paperwork tied to the purchase of three properties in 2019. LeAnthony Brown, 49, was charged in the eight-page indictment made public Wednesday with five counts of mortgage fraud and making false
The demand to finance a home surged as mortgage applications increased 3.1% for the week ending August 1, according to the Mortgage Bankers Association. The increase comes after applications decreased 3.8% the week prior. In addition, mortgage interest rates remained fairly steady at 6.72% for a 30-year fixed mortgage, for the week ending July 31, according
Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors’ opinions or evaluations. Today’s average mortgage rate on a 30-year fixed-rate mortgage is 6.55%, down 2.24% from the previous week, according to the Mortgage Research Center. Borrowers may be able to save on interest costs by going