Vice President Kamala Harris laid out her plans for the US economy Friday afternoon in a speech focused on issues like housing costs and grocery store prices. It was the Democratic nominee’s first extended foray into economic policy since announcing her run for the presidency. She touted President Joe Biden’s accomplishments but quickly added “we
The average rate on a 30-year mortgage fell this week to its lowest level in more than a year, a welcome affordability boost for prospective home shoppers and homeowners looking to refinance their home loan to a lower rate. The rate fell to 6.47% from 6.73% last week, mortgage buyer Freddie Mac said Thursday. A year ago,
Mortgage rates are hopefully coming back down to earth. So far daily mortgage rates have fallen to 6.81% and weekly rates to 6.77%, their lowest readings in months. For some homebuyers, it represents thousands of dollars in new purchasing power; for others, it’s pushing monthly mortgage payments down, according to Redfin. The typical monthly housing
Last year was a slump for investors in the housing world: mortgage rates were too high, home prices and rents were cooling. But things are picking up; in the first quarter of this year, “14.8% of sold homes were purchased by investors, the highest share on record,” according to Realtor.com. Still, there’s a caveat. “Though
If you’re a baby boomer, you might not consider today’s mortgage rates to be high. After all, in the 1980s and ’90s, they were much higher. But if you’re of a younger generation and experienced historically low mortgage rates throughout the pandemic, and years before, you probably feel otherwise. Well, a new normal is setting