Latest Mortgages News

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...

Average long-term US mortgage rate rose this week to 6.77%, highest level in 10 weeks

Feb. 15, 2024 14:02 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate rose this week to its highest level in 10 weeks, a setback for prospective homebuyers ahead of the spring homebuying season. The average rate on a 30-year mortgage rose to 6.77% from 6.64% last week, mortgage buyer Freddie...

Average long-term US mortgage rate edged higher this week, but remain in the mid-6% range

Feb. 08, 2024 17:30 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate edged higher this week, reflecting a recent uptick in the 10-year Treasury yield. The average rate on a 30-year mortgage rose to 6.64% from 6.63% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate...

Average long-term US mortgage rate eases to 6.63%, a welcome move for prospective homebuyers

Feb. 01, 2024 14:41 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate eased this week, welcome news for prospective homebuyers as the spring homebuying season approaches. The average rate on a 30-year mortgage fell to 6.63% from 6.69% last week, mortgage buyer Freddie Mac said Thursday. A...

Average long-term US mortgage rate rises to 6.69%, highest level in six weeks

Jan. 25, 2024 12:17 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed to a six-week high this week, pushing up borrowing costs for homebuyers already facing the challenges of rising housing prices and a shortage of homes for sale. The average rate on a 30-year mortgage rose to 6.69%...

2023 was slowest year for US home sales in nearly 30 years as high mortgage rates frustrated buyers

Jan. 19, 2024 17:28 PM EST

LOS ANGELES (AP) — Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low, as sharply higher mortgage rates, rising prices and a persistently low level of homes on the market combined to push homeownership out of reach for many Americans. The National...

Boost for homebuyers: Average long-term mortgage rate falls to 6.6%, lowest level since May

Jan. 18, 2024 17:34 PM EST

LOS ANGELES (AP) — The average long-term U.S. mortgage rate fell this week to its lowest level since May, welcome news for prospective homebuyers facing rising home prices and intense competition for relatively few properties on the market. The average rate on a 30-year mortgage...