For the second month in a row, the average 30-year fixed rate mortgage has decreased, according to State Treasurer Todd Russ. Russ’ monthly report says the rate dropped from June to July by 1.01%, down to 6.85%. “Despite rates elevated and fluctuating within a relatively narrow range, many housing market experts expect rates to recede
Open this photo in gallery: Since its founding in 2018, Montreal-based Nesto has grown rapidly. Its most recent spurt occurred in June with the acquisition of CMLS Financial Ltd., the country’s third-largest mortgage finance company.Nathan Denette/The Canadian Press Fresh from gobbling up a much larger residential and commercial mortgage player, online lender Nesto Inc. has
A couple signing paperwork with a realtor in a new house. Image source: Getty Images Elevated mortgage rates have made it difficult for buyers to move forward with home purchases. That’s because on top of those higher rates, home prices are also up on a national scale. But there’s a good chance that mortgages will
This election year, housing has emerged as one of the top five concerns for Latino voters for the first time ever. With mortgage rates and housing prices on the rise, the dream of owning a home has become more elusive. Many Latinos and Latinas face barriers beyond finances, starting with the difficulty of securing a
In August, falling mortgage rates have led to a surge of interest in refinancing, creating a wave of excitement among homeowners keen on lowering their monthly payments. As mortgage rates drop to their lowest levels in over a year, homeowners are eager to take advantage of this opportune moment to refinance, significantly impacting their financial
In a significant shift that brings relief to prospective home buyers, mortgage rates decreased to the lowest level in over a year, with the average rate for a 30-year fixed-rate mortgage (FRM) recently dropping to 6.47% as reported on August 8, 2024. This announcement was highlighted in the Primary Mortgage Market Survey® by Freddie Mac, a trusted source of
Mortgage rates this week plunged to their lowest point in over a year, offering a much-needed respite for prospective homebuyers grappling with a volatile market. This significant shift has left many wondering about the driving forces behind this decline. According to Freddie Mac, the average interest rate for a 30-year fixed mortgage currently stands at 6.47%,
Homebuyers, are you tired of the dizzying ups and downs of mortgage rates? You’re not alone. But there might be a glimmer of hope on the horizon. As the Federal Reserve’s latest moves send ripples through the economy, experts are predicting a potential shift in mortgage rates starting next week. Let’s break down what this
There is a significant increase in homeowners aged over 50 looking to re-mortgage on a term that is likely to spill over into their retirement. Longer mortgage terms can make monthly payments more affordable, but homeowners could end up paying more in interest over the longer term. Britons over 50 who took out a 21
Mortgage rates have been a rollercoaster, leaving homebuyers feeling like they’re on a never-ending search for the golden ticket. After the dizzying heights of the past few years, could August 2024 finally bring some relief? With whispers of economic shifts and a growing sense of optimism, many are wondering if the dream of affordable homeownership