The average rate on a 30-year mortgage in the U.S. edged lower for the second week in a row, a modest but welcome boost for prospective home shoppers in the midst of the spring homebuying season. The rate fell to 6.64% from 6.65% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the
Fannie Mae tightened the screws on every condo association in America after the 2021 Chaplain Towers collapse in Surfside, Florida, where 98 lives were tragically lost. Financial and operational standards must be met, or the association is blacklisted. That’s budgeting, financial reserves, acceptable property maintenance and the like. In industry parlance, these blacklisted associations are
Fannie Mae and Freddie Mac have long been a bedrock of the American home-buying industry, turning what could otherwise be a volatile market into one that is stable and predictable for the people buying homes and the investors who purchase home loans as mortgage-backed securities. But last week, William Pulte, President Trump’s appointee to lead
Your credit score gives lenders a sense of how likely you are to make regular, on-time mortgage payments. So, it’s a critical part of the approval process for mortgage refinancing. Typically, homeowners need at least a 620 FICO score to refinance. But if you don’t meet this threshold, you still have options. Below, CNBC Select
Illustration by Realtor.com; Source: Getty Images Whether you’re a first-time homebuyer or just looking to make a change, buying a home right now might seem like a fruitless endeavor—but it’s really not. The average rate on 30-year fixed home loans went up to 6.67% for the week ending March 20, up from 6.65% the week
VA loans are zero-down mortgages for active service members and veterans that are insured by the Department of Veterans Affairs and funded by private lenders. Created in 1944, the VA loan program has aided more than 24 million families achieve homeownership with flexible qualifications, lower rates, no down payment and no private mortgage insurance. No
The base rate influences what you’re charged to borrow money – for example, if you have a mortgage or loan – as well as the return you get on your savings 12:00, 20 Mar 2025Updated 13:00, 20 Mar 2025 Bank of England has holds interest rates at 4.5% The base rate has been held at
The newly appointed head of one of the nation’s top housing regulators tightened his grip on the agency with a major board shake-up on Monday at two government-controlled mortgage finance firms. William Pulte, the director of the Federal Housing Finance Agency, ousted 14 board members at Fannie Mae and Freddie Mac and named himself chairman
The average rate on a 30-year mortgage in the U.S. edged higher last week, ending a seven-week slide that helped ease borrowing costs for home shoppers leading into the spring homebuying season. The rate averaged 6.65% this week, up from 6.63% last week, mortgage buyer Freddie Mac said. A year ago, it averaged 6.74%. Borrowing
Mortgage rates have fallen by the biggest margin in nearly six months, ahead of the Bank of England’s next base rate decision on 20 March. After months of stubbornly high rates, the cuts will be welcome news for the 1.8 million people due to remortgage in the remainder of 2025. Read on to find out