Mortgage rates increased this week for the first time in June, ending the month on a low note. The 30-year fixed-rate mortgage averaged 6.81% APR, up five basis points from the previous week’s average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point. Pending home sales
The current average interest rate for a fixed-rate, 30-year conforming mortgage loan in the United States is 6.885%, according to the most recent data available from mortgage technology and data company Optimal Blue. Read on to see average rates for different types of mortgages and how the current rates compare with the last reported day
If you’re shopping for a mortgage with bad credit or want to make a small down payment, consider a Federal Housing Administration (FHA) loan. Created during the Great Depression to help low-income and moderate-income Americans buy homes, these government-backed mortgages accept borrowers with credit scores as low as 580 with 3.5% down. Borrowers who put
Whether you’re thinking about buying a home for the first time, buying a bigger or smaller home, or refinancing your mortgage on your existing home, you’re probably keeping a close eye on current mortgage rates. Here’s the most up-to-date data on a variety of types of fixed-rate mortgages in the United States, per mortgage technology
Mortgage rates continued slipping downward this week, in the absence of any major market movements or economic data releases. The 30-year fixed-rate mortgage averaged 6.76% APR, down 8 basis points from the previous week’s average, according to rates provided to NerdWallet by Zillow. A basis point is one one-hundredth of a percentage point. Easing interest
High interest rates have been a boon to Americans holding cash, but many on Wall Street are cautioning investors to start thinking ahead. People have been piling into cash vehicles, such as money market funds and certificates of deposit, since the Federal Reserve started hiking interest rates. Total money market fund assets hit a record
It’s not surprising “zero-down mortgages are making a comeback,” as CNN recently declared. After all, home prices skyrocketed during the pandemic-fueled housing boom and have continued to do so since, recently hitting their ninth all-time high within the past year—only making down payments more costly, and somewhat unrealistic for a lot of people. Think about
A REALTOR has warned homeowners about a crucial form that could keep their mortgage from increasing by hundreds of dollars. Neglecting to do so had cost one of their clients serious money on their monthly payments. Homeowners in a key state could save on property taxes with a crucial formCredit: Getty Realtor Jessica Rogers said
A DISTRESSED first-time buyer has found out they are too broke to buy a house they’re already contracted for. Fortunately, money guru Dave Ramsey offered a way out of the mortgage mess. A young caller to The Ramsey Show was contracted to buy her first home But Dave Ramsey said she was too ‘broke’ to
China is set to hold firm on its benchmark lending rates on Monday, though the odds have shortened on a mortgage reference rate cut as Beijing looks to shock-start its crisis-hit property sector back into life. The loan prime rate (LPR), normally charged to banks’ best clients, is calculated each month after 20 designated