Latest Mortgage rates News

More buyers opt for adjustable-rate mortgages as rates rise

May. 19, 2022 11:18 AM EDT

LOS ANGELES (AP) — Rising interest rates are making adjustable-rate mortgages an increasingly attractive alternative to common 30-year, fixed-rate home loans. ARMs made up 13% of all home loans by dollar volume in March, their highest share since January 2020, according to...

Home sales tumble again as mortgage rates surge

May. 19, 2022 10:58 AM EDT

Sales of previously occupied U.S. homes slowed for the third consecutive month in April as mortgage rates surged, driving up borrowing costs for would-be buyers as home prices soared to new highs. Existing home sales fell 2.4% last month from March to a seasonally adjusted annual...

Average long-term U.S. mortgage rates edge down to 5.25%

May. 19, 2022 10:52 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates retreated modestly this week, but interest on the key 30-year loan remains at decade-high levels. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate slipped to 5.25% from 5.3% last week. By contrast, the...

Average long-term US mortgage rates edge up to 5.3%

May. 12, 2022 10:12 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates edged up again this week, with interest on the key 30-year loan at its highest level since 2009. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.3% from 5.27% last week. By...

US mortgage rates rise; 30-year at 5.27%, highest since 2009

May. 05, 2022 15:32 PM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates resumed their ascent this week, as the key 30-year loan reached its highest point since 2009. The increases came in the week preceding the widely anticipated action by the Federal Reserve, announced Wednesday, to intensify its...

Long-term US mortgage rates edge down this week to 5.1%

Apr. 28, 2022 10:01 AM EDT

WASHINGTON (AP) — The average long-term U.S. mortgage rate edged down for the first time in two months following a swift ascent to levels that have not been seen in more than a decade. After seven weeks of increases, the average rate on a 30-year mortgage inched down to 5.1% from...

Higher mortgage rates set stage for lower home sales

Apr. 21, 2022 13:19 PM EDT

LOS ANGELES (AP) — Low mortgage rates have helped juice the housing market over the past decade, easing the way for borrowers to finance ever-higher home prices. A run-up in rates in recent weeks is threatening to undo that dynamic, setting the stage for a slowdown in home sales...

Average long-term US mortgage rates highest in 12 years

Apr. 21, 2022 10:20 AM EDT

WASHINGTON (AP) — Long-term U.S. mortgage rates rose for the seventh straight week, climbing to their highest level in more than a decade. The average rate on a 30-year mortgage rose to 5.11% from 5% last week, mortgage buyer Freddie Mac reported Thursday. The last time it was...

March home sales fall as mortgage rates, home prices climb

Apr. 20, 2022 10:52 AM EDT

Sales of previously occupied U.S. homes slowed in March to the slowest pace in nearly two years as a swift rise in mortgage rates and record-high prices discouraged would-be homebuyers. Existing home sales fell 2.7% last month from February to a seasonally adjusted annual rate of...

US long-term mortgage rates rise; 30-year loan reaches 5%

Apr. 14, 2022 11:32 AM EDT

WASHINGTON (AP) — Long-term U.S. mortgage rates continued to climb this week as the key 30-year loan rate reached 5% for the first time in more than a decade amid persistent high inflation. The average 5% rate on the 30-year mortgage was up from 4.72% last week, mortgage buyer...