Latest Mortgages News
Sixth-straight drop: Average long-term US mortgage rate falls to 7.03%, lowest level since August
LOS ANGELES (AP) — Home loan financing costs eased again this week, as the average long-term U.S. mortgage rate slid to its lowest level in four months. The average rate on a 30-year mortgage dropped to 7.03% from 7.22% last week, mortgage buyer Freddie Mac said Thursday. A year...
Lower mortgage rates next year unlikely to entice 'rate-locked' homeowners to sell, economists say
LOS ANGELES (AP) — Several housing economists are projecting that mortgage rates will ease moderately next year, though the forecasts call for the average rate on a 30-year home loan to remain above 6%. While lower rates could help bring more buyers off the sidelines, the projected...
The average long-term US mortgage rate falls to 7.22%, sliding to lowest level since late September
LOS ANGELES (AP) — The average long-term U.S. mortgage rate fell for the fifth week in a row, more good news for prospective homebuyers grappling with an increasingly unaffordable housing market. The latest decline brought the average rate on a 30-year mortgage down to 7.22% from...
The average long-term US mortgage rate falls to 7.29% in fourth-straight weekly drop
LOS ANGELES (AP) — The average long-term U.S. mortgage rate fell for the fourth time in as many weeks, more positive news for prospective homebuyers who have been held back by sharply higher borrowing costs and heightened competition for relatively few homes for sale. The latest...
Home sales slumped to slowest pace in more than 13 years in October as prices, borrowing costs, soar
LOS ANGELES (AP) — Sales of previously occupied U.S. homes slumped in October to their slowest pace in more than 13 years as surging mortgage rates and rising prices kept many prospective homebuyers on the sidelines. Existing home sales fell 4.1% last month from September to a...
The average long-term US mortgage rate falls to 7.44% in third-straight weekly drop
LOS ANGELES (AP) — The average rate on the benchmark 30-year home loan fell for the third week in a row, welcome news for house hunters facing a market held back by persistently high prices and a near-historic low number of homes for sale. The latest decline brought the average...
The average long-term US mortgage rate falls to 7.5% in second-straight weekly drop
LOS ANGELES (AP) — The average rate on the benchmark 30-year home loan fell for the second week in a row, positive news for prospective homebuyers after rates touched a 22-year high just last month. The latest decline brought the average rate on a 30-year mortgage down to 7.5% from...
Bypassing mortgage rates: Share of US homes bought with cash hits highest level in nearly a decade
LOS ANGELES (AP) — Homebuyers who can afford to bypass the highest mortgage rates in two decades are increasingly forgoing financing and paying all cash. Homes purchased entirely with cash, which means there was no reference to a mortgage on the deed, accounted for 34.1% of all...
The average long-term US mortgage rate slips to 7.76% in first drop after climbing 7 weeks in a row
LOS ANGELES (AP) — The average rate on the benchmark 30-year home loan fell slightly this week, ending a seven-week climb — modest relief for prospective homebuyers grappling with an increasingly unaffordable housing market. The decline brought the average rate on a 30-year...
The average long-term US mortgage rate rises for 7th straight week, 30-year loan reaches 7.79%
NEW YORK (AP) — The average rate on the benchmark 30-year home loan rose for the seventh straight week, creating an increasingly high bar to home ownership for Americans. The rate on the 30-year fixed mortgage is at 7.79%, up from 7.63% last week, Freddie Mac said Thursday. A year...
