By ALEX VEIGA, AP Business Writer The average rate on a 30-year U.S. mortgage eased to where it was three weeks ago, modest relief for prospective homebuyers challenged by rising home prices and stubbornly high borrowing costs. The long-term rate slipped to 6.72% from 6.74% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the
Mortgage rates trended slightly downward on Thursday after the Federal Reserve held firm on its rate policy, maintaining a wait-and-see stance despite mounting political pressure. The average rate on 30-year fixed home loans registered 6.72% for the week ending July 31, down just slightly from 6.74% last week, according to Freddie Mac. Rates averaged 6.73%
The average rate on a 30-year U.S. mortgage eased to where it was three weeks ago, modest relief for prospective homebuyers challenged by rising home prices and stubbornly high borrowing costs. The long-term rate slipped to 6.72% from 6.74% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.73%. Borrowing
Rate PROFILE PIC – TJ CHICAGO, July 31, 2025 (GLOBE NEWSWIRE) — Rate, a leading fintech company, today announced that seasoned mortgage recruiter Tina Jablonski has joined the company as Senior Vice President, Market Growth. Jablonski will focus on expanding Rate’s reach by recruiting high-performing loan officers across the company’s Midwest presence. Shop Top
BROOKLYN, NY– July 28, 2025–General Mortgage Capital Corporation (GMCC), already a trusted name as a mortgage broker in Brooklyn, is proud to announce its official launch as a direct mortgage lender in Brooklyn. This strategic evolution allows GMCC to combine its deep market knowledge as a leading mortgage broker in Brooklyn with the power of
Key Takeaways Mortgage rates dropped modestly before Wednesday’s highly anticipated Fed rate hold announcement. The mortgage dip and this week’s Fed news are largely unrelated, as the fed funds rate doesn’t directly impact long-term loans like mortgages. While at least one Fed rate cut is predicted this year, timing a home purchase around interest rate
In a split decision, the Federal Reserve on Wednesday left its key policy rate unchanged yet again, hours after President Donald Trump called on Fed Chair Jerome Powell to cut rates and boost the housing market. As was widely expected, Fed policymakers left the central bank’s overnight rate unchanged at a range of 4.25% to
Mortgage rates need to get below 6% to reinvigorate the frosty housing market, according to the National Association of Realtors (NAR). A 30-year fixed-rate mortgage at 6% would make the median-priced home affordable for about 5.5 million more households, NAR economists shared at the July 16 Real Estate Forecast Summit. “If rates were to hit
SALT LAKE CITY — Making bi-weekly mortgage payments instead of monthly ones could help homeowners pay off their loans years earlier and save thousands of dollars in interest. David Brindley, deputy editor of the AARP Bulletin, recommends this strategy as a smart way to make your money work harder. “A really smart way to make
The interest in home loans continues its up and down pattern. Mortgage applications decreased 3.8% for the week ending July 25, according to the Mortgage Bankers Association. The downturn comes after a slight 0.8% uptick last week. In addition, mortgage interest rates remained fairly steady at 6.74% for a 30-year fixed mortgage, for the week ending