Latest Mortgages News

Existing home sales surge as interest rates point higher

Oct. 21, 2021 11:50 AM EDT

Sales of previously occupied U.S. homes bounced back in September to their strongest pace since January as mortgage rates tick higher, motivating buyers to get off the sidelines. The National Association of Realtors said Thursday that existing homes sales rose 7%...

Inflation, Fed action set stage for higher mortgage rates

Oct. 21, 2021 11:33 AM EDT

LOS ANGELES (AP) — Mortgage rates have hovered near all-time lows for much of this year, even as inflation has increased sharply across much of the economy. That could begin to change in the weeks to come, now that the Federal Reserve has signaled it could announce as...

Massachusetts man faces unemployment, mortgage fraud charges

Oct. 20, 2021 09:31 AM EDT

BOSTON (AP) — A Massachusetts man was charged with illegally obtaining unemployment benefits meant for people who lost their jobs because of the coronavirus pandemic, and claiming that the assets of a nonprofit he worked for were his own in a mortgage application, federal prosecutors said....

US average mortgage rates jump; 30-year loan at 3.05%

Oct. 14, 2021 20:26 PM EDT

WASHINGTON (AP) — Average long-term mortgage rates jumped this week, with the benchmark 30-year loan again breaching 3%. Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage rose to 3.05% from 2.99% last week. That is its highest...

Lawsuit: Indiana bank discriminates against Black borrowers

Oct. 08, 2021 14:52 PM EDT

INDIANAPOLIS (AP) — A fair housing nonprofit is suing one of Indiana's oldest banks, Old National Bank, accusing it of discriminating against Black mortgage borrowers through strategies that include seeking to limit its residential lending business to predominantly white areas and...

US average mortgage rates decline; 30-year at 2.99%

Oct. 07, 2021 18:31 PM EDT

WASHINGTON (AP) — Average long-term mortgage rates declined this week, with the benchmark 30-year loan slipping back below 3%. Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage eased to 2.99% from 3.01% last week. The rate stood...

Asian shares skid after S&P 500 logs 1st monthly drop of '21

Sep. 30, 2021 23:45 PM EDT

Asian markets tumbled Friday on the tail of Wall Street’s worst monthly loss since the beginning of the pandemic. Tokyo skidded 2% and Australia’s benchmark sank 2.3%. Markets in Shanghai and Hong Kong were closed for holidays. The S&P 500...

US average mortgage rates jump; 30-year at 3.01%

Sep. 30, 2021 21:02 PM EDT

WASHINGTON (AP) — Average long-term mortgage rates rose jumped this week as the benchmark 30-year loan edged over 3%. Mortgage buyer Freddie Mac reported Thursday that the average rate for a 30-year mortgage increased to 3.01% from 2.88% last week. The rate stood at...

Soaring home prices juice average US homeowner equity growth

Sep. 30, 2021 14:37 PM EDT

LOS ANGELES (AP) — Soaring home prices have pushed up average homeowner equity growth to the highest level in more than a decade, though recent signs of a cooling U.S. housing market point to more moderate gains in the second half of the year. Homes with a mortgage...

Yellen warns delay in raising debt limit will slow economy

Sep. 28, 2021 15:41 PM EDT

WASHINGTON (AP) — Treasury Secretary Janet Yellen sounded an urgent call Tuesday for Congress to raise the government's borrowing limit, a day after Senate Republicans blocked consideration of a bill that would have done so. If the debt limit isn’t raised by Oct....