Latest Mortgages News
Sluggish start for spring homebuying season as home sales fall in March with mortgage rates rising
LOS ANGELES (AP) — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices. Sales of previously occupied U.S. homes fell 4.3% in March from the previous month to a seasonally adjusted annual rate of 4.19...
Average long-term US mortgage rate climbs above 7% to highest level since late November
LOS ANGELES (AP) — Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months. The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage...
Kate Ashford: Retirement could come sooner than you think — how to plan for it
NEW YORK (AP) — American workers expect to retire at a median age of 65, according to a 2023 survey from the Employee Benefit Research Institute, or EBRI. But the actual median age for retirement is 62, the survey found. That may not seem like a big gap, but if you retire three...
Average long-term US mortgage rate edges closer to 7%, rising to highest level since early March
LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose to its highest level in five weeks, a setback for prospective homebuyers during what's traditionally the busiest time of the year for home sales. The average rate on a 30-year mortgage rose to 6.88% from 6.82% last...
Homebuyers’ quandary: to wait or not to wait for lower mortgage rates
LOS ANGELES (AP) — Shop for a home now or hold out for the possibility of lower mortgage rates? That question is confronting many home shoppers this spring homebuying season. Lower rates give home shoppers more financial breathing room, so holding out for a more attractive rate can...
Investors pushing for fatter yields on mortgage-backed securities may undercut easing mortgage rates
LOS ANGELES (AP) — Mortgage rates are expected to come down later this year, but any benefit to homebuyers could be muted by developments in the market for financial instruments tied to mortgages. Over the last couple of years, uncertainty about inflation and the trajectory of...
Average long-term US mortgage rate rises modestly this week, holding just below 7%
LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose modestly this week, holding below 7% as it has for much of this year. The average rate on a 30-year mortgage rose to 6.82% from 6.79% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged...
Should you itemize or take a standard deduction on your tax return? Here's what to know
NEW YORK (AP) — When tackling your taxes, it can sometimes be hard to figure out whether to opt for a standard deduction or itemize. According to tax pros, itemizing generally only makes sense if your itemized deductions, taken together, add up to more than the current standard...
Average long-term US mortgage rate falls slightly, easing borrowing costs for home shoppers
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
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...
