“We are left with a home worth $310,000 — not $415,000.” (Photo subject is a model.) – Getty Images/iStockphoto My wife decided to agree to purchase a home from her daughter, my stepdaughter. As her daughter is family, a simple agreement was drawn up, not an actual real-estate contract to purchase. The agreement was for
Dear Claudienne, I am seeking your assistance with an urgent issue regarding my mortgage application at JN Building Society (JNBS). I currently live overseas and have been transferring funds to my JNBS account as instructed, but my account balance is not reflecting these updated transfers. Details of Transfers: On November 20, 2024, I transferred $490,000.00
PAYING a mortgage off early might seem like a pipe dream for most people. It’s typically the largest debt you’ll ever have, taking decades to pay off. 2 Pay your mortgage off early on an average wageCredit: Alamy But it is possible to make that dream a reality, even on an average wage. Monthly mortgage
Mortgage spreads Mortgage spreads — the difference between the 10-year Treasury yield and the 30-year mortgage rate — are a complex topic. Over the past decade, they haven’t received much attention because spreads were typical and not a concern. Under normal circumstances, the spread typically ranges from 1.60% to 1.80%. A historical review of these
Mortgage rates climbed for the second week in a row, denting home affordability in the middle of homebuying season. The average rate on the 30-year fixed-rate mortgage went up seven basis points to 7.01% in the week ending May 15, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of
The average top tier 30yr fixed rate is set to end the week just a few hundredths of a percent higher than last Friday at 6.92%. That’s a victory–albeit a small one–after hitting 6.99% on Wednesday. As always, these rates refer to an index representing broad industry averages for best-case scenarios. Individual lenders and scenarios
Loan Type New Purchase Rates Daily Change 30-Year Fixed 7.04% -0.03 FHA 30-Year Fixed 7.37% No Change VA 30-Year Fixed 6.66% -0.04 20-Year Fixed 6.90% -0.04 15-Year Fixed 6.09% -0.05 FHA 15-Year Fixed 6.78% No Change 10-Year Fixed 6.09% +0.15 7/6 ARM 7.25% +0.07 5/6 ARM 7.29% +0.05 Jumbo 30-Year Fixed 7.04% No Change Jumbo
An under-the-radar Trump trade has soared this year on bets of a big shake-up in the mortgage industry — but it’s a change that might not ultimately benefit everyday Americans. That’s according to Pimco, which said this week that the privatization of Fannie Mae and Freddie Mac, the mortgage finance giants that were taken over
Mortgage rates continue to fluctuate in mid-May, with the average 30-year fixed mortgage dipping just below 7% after a brief spike earlier this month. According to Zillow, the national average 30-year fixed mortgage rate stands at 6.99% as of May 16, 2025—down two basis points from the previous day. However, it remains up slightly from
Getting a mortgage could soon become easier – especially if you’re buying your first home. At the start of the year, the financial regulator announced plans to reform the market and improve access for borrowers. We’re now starting to see the effects, with lenders tweaking the affordability checks they use to decide how much you