Latest Mortgage rates News

Average long-term US mortgage rates inch up to 5.81%

Jun. 23, 2022 11:00 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates inched up this week following last week's mammoth jump, the biggest in 35 years. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked up to 5.81% this week, from last week's 5.78%. Last week's average —...

Home sales give way as prices enter unprecedented territory

Jun. 21, 2022 11:14 AM EDT

Sales of previously occupied U.S. homes slowed for the fourth consecutive month as climbing mortgage rates and record high prices discouraged house hunters. Existing home sales fell 3.4% last month from April to a seasonally adjusted annual rate of 5.41 million, the National...

Average US mortgage rates jump by most in 35 years

Jun. 16, 2022 10:22 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates had their biggest one-week jump in 35 years with the Federal Reserve this week raising its key rate by three-quarters of a point in bid to tame high inflation. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate...

Mortgage rates jump again, buyers head to the sideline

Jun. 09, 2022 10:59 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped back up ahead of next week's Federal Reserve meeting where it's expected to announce another big increase to its main borrowing rate. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate jumped to 5.23%...

Average long-term US mortgage rates edge down, still over 5%

Jun. 02, 2022 10:28 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates edged down slightly this week, though interest rates on the key 30-year home loan remain elevated. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate ticked down to 5.09% from 5.1% last week. By contrast, the...

Average long-term mortgage rates fall; 30-year loan at 5.1%

May. 26, 2022 12:33 PM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for the second week in a row, though interest rates on the key 30-year home loan remain at decade-high levels. Economic uncertainty and weakened homebuyer demand continue to loom over mortgage rates. Mortgage...

Re/Max CEO: Home prices can't keep up double-digit gains

May. 23, 2022 09:32 AM EDT

LOS ANGELES (AP) — The U.S. housing market is slowing as would-be buyers struggle with rising borrowing costs and a persistent shortage of properties for sale. Previously occupied home sales fell in February and March as mortgage rates shot up, crimping homebuyers’ purchasing...

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...