Latest Mortgages News

US average mortgage rates fall; 30-year at 4.31 percent

Mar. 14, 2019 12:34 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates fell this week, with the benchmark 30-year home loan reaching its lowest level in more than a year as a potential inducement to homebuyers. Continued uncertainty over Britain's scheduled departure from the European Union suppressed interest rates on U.S....

US new-home sales fell 6.9 percent in January

Mar. 14, 2019 11:01 AM EDT

WASHINGTON (AP) — Sales of new U.S. homes slumped 6.9 percent in January, a possible sign that buyers paused during the government shutdown. The Commerce Department said Thursday that new homes sold at a seasonally adjusted annual rate of 607,000 in January, down from 652,000 in December. The housing...

$1.3M cash for home of Honolulu couple in corruption probe

Mar. 13, 2019 6:32 PM EDT

HONOLULU (AP) — A U.S. judge on Wednesday approved the sale of a home belonging to a retired Honolulu police chief and his former prosecutor wife mired in a corruption investigation. A buyer is offering more than $1.3 million in cash for Louis and Katherine Kealoha's home in Hawaii Kai, an upscale Honolulu...

US mortgage rates increased this week; 30-year at 4.41 pct.

Mar. 7, 2019 11:55 AM EST

WASHINGTON (AP) — U.S. long-term mortgage rates rose modestly this week, but they remain slightly lower than they were a year ago. Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage increased to 4.41 percent from at 4.35 percent during the prior week. The average...

Home affordability watch: Priciest and cheapest time zones

Mar. 7, 2019 10:51 AM EST

Cities in the Pacific time zone have the least-affordable housing in the country, and the Central time zone has the most-affordable housing. Each quarter, NerdWallet calculates the home affordability for 178 metropolitan areas, matching the list of metros for which the National Association of Realtors publishes...

Connecticut bank settles race bias in lending lawsuit

Mar. 4, 2019 10:53 AM EST

MIDDLETOWN, Conn. (AP) — A Connecticut bank that fair housing advocates alleged in a lawsuit discriminated against minority home loan borrowers has settled the case. The Hartford Courant reports that under the agreement announced Monday, Liberty Bank will boost by $10 million a mortgage program for low-...

Homebuilders face affordability hurdles this spring

Feb. 28, 2019 4:15 PM EST

A pullback in mortgage rates has helped boost homebuilder stocks this year after a dismal 2018, when the U.S. housing market slowed under the weight of higher borrowing costs, rising prices and a thin supply of homes for sale. Investors are betting that the decline in the average rate for a 30-year mortgage will...

US mortgage rates mostly held steady this week

Feb. 28, 2019 2:48 PM EST

WASHINGTON (AP) — U.S. long-term mortgage rates were unchanged this week, possibly helping affordability as home borrowing costs have been steadily declining since early November. Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage held at 4.35 percent for the...

Average US mortgage rates fell this week

Feb. 21, 2019 11:45 AM EST

WASHINGTON (AP) — U.S. long-term mortgage rates dipped this week to the lowest average in more than a year, providing a possible boost to the start of the Spring homebuying season in March. Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year, fixed-rate mortgage declined to 4.35...

US home sales tumbled 1.2 percent in January

Feb. 21, 2019 11:00 AM EST

WASHINGTON (AP) — U.S. home sales fell 1.2 percent in January to their worst pace in more than three years, as persistent affordability problems have put a harsh chill in the real estate market. The National Association of Realtors said Thursday that sales of existing homes declined 1.2 percent to a...