Latest Mortgage rates News

Average 30-year mortgage rate rose to 3.73%

Sep. 19, 2019 11:20 AM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates shot up this week, yet they stayed close to the historic lows that appear to be helping the real estate market. Mortgage buyer Freddie Mac says the average rate on the 30-year, fixed-rate mortgage increased to 3.73% from 3.56% last week. The rate averaged...

Mortgage rates boosted US home sales 1.3% in August

Sep. 19, 2019 11:05 AM EDT

WASHINGTON (AP) — U.S. home sales rose 1.3% in August to the highest level in 17 months, as mortgage rates near historic lows have spurred a rush of home-buying. The National Association of Realtors said Thursday that homes sold last month at a seasonally adjusted annualized rate of 5.49 million units, the...

What the Fed's rate cut means for you

Sep. 18, 2019 4:03 PM EDT

The Federal Reserve has cut its benchmark interest rate again, big news for the U.S. economy but something that will likely have a muted impact on Americans' personal finances, experts say. That's because the reduction doesn't offset the increases of recent years. And as the key rate creeps closer to zero,...

US long-term mortgage rates rise, with 30-year at 3.56%

Sep. 12, 2019 7:06 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates rose this week but remained at historically low levels. Mortgage buyer Freddie Mac said Thursday the rate on the 30-year, fixed-rate mortgage increased to 3.56% from 3.49% last week. Average rates on the benchmark loan have remained below 3.6% for four...

Officials spar with senators over plan for mortgage giants

Sep. 10, 2019 1:52 PM EDT

WASHINGTON (AP) — Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners. The...

Treasury unveils plan to privatize Fannie Mae, Freddie Mac

Sep. 5, 2019 9:35 PM EDT

WASHINGTON (AP) — The Trump administration has unveiled its plan for ending government control of Fannie Mae and Freddie Mac, the two giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at a total cost to taxpayers of $187 billion. The...

Long-term mortgage rates dip; 30-year at 3-year low of 3.49%

Sep. 5, 2019 12:14 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates fell this week, with the average on the key 30-year loan reaching its lowest point in nearly three years. Mortgage buyer Freddie Mac said Thursday that the rate on the 30-year mortgage declined to 3.49% from 3.58% last week. The average rate hasn't been that...

Average 30-year mortgage rates tick up to 3.58%

Aug. 29, 2019 10:10 AM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates ticked up slightly this week, yet they remain near historic lows. Mortgage buyer Freddie Mac said Thursday that the average rate on the 30-year loan rose to 3.58% from 3.55% last week. Mortgage rates have fallen sharply as a slowing global economy and...

US new home sales slid 12.8% in July

Aug. 23, 2019 11:47 AM EDT

WASHINGTON (AP) — Sales of new U.S. homes fell a steep 12.8% in July, but the drop came after revisions to June sales showed the sales highest growth in 12 years. The Commerce Department said Friday that new homes sold at a seasonally adjusted annual rate of 635,000 units. That's down from a sharply...

US stock indexes end mixed ahead of Fed chairman speech

Aug. 22, 2019 5:14 PM EDT

A wobbly day on Wall Street left stock indexes mostly lower Thursday as investors turned cautious ahead of a widely anticipated speech by the Federal Reserve chairman. Losses by health care, technology and energy companies, among other sectors, outweighed gains by banks, consumer goods makers and elsewhere in the...