Latest Mortgages News

Maryland helps people with student loans purchase homes

Jul. 21, 2019 9:01 AM EDT

ANNAPOLIS, Md. (AP) — A Maryland initiative to help residents with education loans purchase their first home and wipe out college debt at the same time is taking off. Maryland SmartBuy has helped home buyers pay off a total of $7 million in student debt since its inception in 2016, according to the state...

US average long-term mortgage rates rise; 30-year at 3.81%

Jul. 18, 2019 2:39 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week after three weeks of holding steady, tipped higher by expectations that the Federal Reserve could reduce interest rates soon. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage increased to 3.81% from...

US home construction slips 0.9% to 1.25 million in June

Jul. 17, 2019 10:41 AM EDT

WASHINGTON (AP) — U.S. home construction slipped last month as an uptick in the building of single-family homes was offset by a big drop in apartment construction. The Commerce Department said Wednesday that construction was started at a seasonally adjusted annual rate of 1.25 million in June, down 0.9%...

US long-term mortgage rates little changed, 30-year at 3.75%

Jul. 11, 2019 5:14 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates were mostly unchanged this week amid signals from the Federal Reserve that it is preparing to cut interest rates soon. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year mortgage stood at 3.75%, the same as the previous...

Double jeopardy fight looms after Manafort pleads not guilty

Jun. 27, 2019 5:40 PM EDT

NEW YORK (AP) — A frail Paul Manafort shuffled into court Thursday in handcuffs and prison garb and pleaded not guilty to New York state mortgage fraud charges that could keep him behind bars even if President Donald Trump pardons him for federal crimes uncovered during the probe of Russian election...

US long-term mortgage rates fall; 30-year loan at 3.73%

Jun. 27, 2019 12:13 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates fell this week. It was the seventh decline in the past nine weeks for the key 30-year, fixed-rate loan, which reached its lowest level since November 2016. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage fell to...

US home sales climbed 2.5% in May amid lower mortgage rates

Jun. 21, 2019 11:12 AM EDT

WASHINGTON (AP) — U.S. home sales jumped 2.5% in May, as lower mortgage rates appeared to help buyers overcome affordability challenges. The National Association of Realtors said Friday that existing homes sold at a seasonally adjusted annual rate of 5.34 million last month, up from 5.21 million in April....

US existing home sales increased 2.5% in May amid lower mortgage rates, but sales still weaker than a year ago

Jun. 21, 2019 10:00 AM EDT
WASHINGTON (AP) — US existing home sales increased 2.5% in May amid lower mortgage rates, but sales still weaker than a year ago.

US long-term mortgage rates little changed; 30-year at 3.84%

Jun. 20, 2019 12:24 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates were little changed this week. The key 30-year, fixed-rate loan hovered around an average 3.8% for the third straight week. Before leveling off, rates marked six straight weeks of declines putting them at historically low levels during this spring's...

Judge lets an additional lawyer represent Hawaii couple

Jun. 17, 2019 10:04 PM EDT

HONOLULU (AP) — Soon after a Honolulu prosecutor and her police chief husband were indicted and accused of a fraud scheme that funded their lavish lifestyle, they told a judge they couldn't pay for lawyers to represent them. The public servant couple, who lived in the swanky part of town, used money bilked...