Latest Mortgages News

Average long-term U.S. mortgage rates ease to 5.7%

Jun. 30, 2022 10:18 AM EDT

WASHINGTON (AP) — Average long-term U.S. mortgage rates eased back this week after shooting up nearly three-quarters of a point in recent weeks. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate fell to 5.70% this week from 5.81% last week. One year ago, however,...

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...

Fed officials signal rates may head to 'restrictive' levels

May. 25, 2022 15:20 PM EDT

WASHINGTON (AP) — Federal Reserve officials agreed when they met earlier this month that they may have to raise interest rates to levels that would weaken the economy as part of their drive to curb inflation, which is near a four-decade high. At the same time, many of the...

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...

Startups push into Tampa Bay’s competitive housing market

May. 22, 2022 03:11 AM EDT

TAMPA, Fla. (AP) — For nearly a month, Julie Youngblood has been traveling across Florida to meet with real estate agents. She’s helping the Austin-based company Homeward — which pays cash for homes upfront while homebuyers finalize their own financing — launch in the...