Latest Mortgages News

Average long-term US mortgage rate falls slightly, easing borrowing costs for home shoppers

Mar. 28, 2024 14:21 PM EDT

LOS ANGELES (AP) — The average long-term U.S. mortgage rate fell slightly this week, welcome news for home shoppers facing rising prices and a stubbornly low inventory of properties on the market this spring homebuying season. The average rate on a 30-year mortgage slipped to...

Average long-term US mortgage rate climbs back to nearly 7% after two-week slide

Mar. 21, 2024 19:00 PM EDT

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed back to nearly 7% this week, pushing up borrowing costs for home shoppers with the spring homebuying season underway. The average rate on a 30-year mortgage rose to 6.87% from 6.74% last week, mortgage buyer...

Average long-term US mortgage rate declines to levels last seen in early February

Mar. 14, 2024 17:05 PM EDT

LOS ANGELES (AP) — Home loan borrowing costs fell for the second week in a row, pulling the average long-term U.S. mortgage rate to its lowest level since early February — good news for prospective home shoppers as the spring homebuying season gets underway. The average rate on a...

Average long-term US mortgage rate edges lower for the first time in five weeks

Mar. 07, 2024 15:18 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate edged lower for the first time in five weeks, a welcome shift for home shoppers this spring homebuying season. The average rate on a 30-year mortgage slipped to 6.88% from 6.94% last week, mortgage buyer Freddie Mac said...

Average long-term US mortgage rises to 6.94% after marking fourth-straight weekly increase

Feb. 29, 2024 12:18 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose for the fourth consecutive week, another setback for prospective homebuyers just as the spring homebuying season gets going. The average rate on a 30-year mortgage rose to 6.94% from 6.90% last week, mortgage buyer...

Insider Q&A: Builder KB Home on outlook for Spring homebuying season

Feb. 26, 2024 12:47 PM EST

LOS ANGELES (AP) — Rising mortgage rates through much of 2023 kept many prospective homebuyers and sellers on the sidelines and the housing market in a deep slump. Homebuilders responded by lowering prices and offering incentives like mortgage rate buydowns to help buyers get over...

Home sales rose in January as easing mortgage rates, more homes for sale enticed homebuyers

Feb. 22, 2024 16:53 PM EST

LOS ANGELES (AP) — Sales of previously occupied U.S. homes rose in January as homebuyers were encouraged by easing mortgage rates and a modest pickup in properties on the market. Existing home sales rose 3.1% last month from December to a seasonally adjusted annual rate of 4...

Wall Street sees a solid year ahead for homebuilders, though mortgage rates remain a wildcard

Feb. 22, 2024 15:19 PM EST

LOS ANGELES (AP) — Housing market trends are shaping up in favor of a solid 2024 for U.S. homebuilders — as long as mortgage rates don't jump back to the highs they hit late last year. Sales of new homes rose nationally in 2023 for the first time in two years, climbing 4.2% from...

Average long-term US mortgage rose again this week to highest level since mid December

Feb. 22, 2024 12:26 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week for the third time in as many weeks, driving up home loan borrowing costs in just as the spring homebuying season ramps up. The average rate on a 30-year mortgage rose to 6.90% from 6.77% last week, mortgage...

Home Depot's strong fourth quarter overshadowed by weakening sales and expectations for 2024

Feb. 20, 2024 07:42 AM EST

Home Depot's sales continued to fade during the fourth quarter as the country's largest home improvement retailer feels the impact of high mortgage rates and inflation on its customers. While quarterly results topped Wall Street expectations, the company's sales expectations for...