Latest Mortgage rates News

US long-term mortgages fall; 30-year at 3.33%

Apr. 3, 2020 4:21 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates fell this week for the second straight week as anxiety has spiraled over devastation to the economy from the coronavirus pandemic. Home-loan rates have been hitting all-time lows. Mortgage buyer Freddie Mac reported Thursday that the average rate on the...

A glance at mortgage rates: up this week in volatile market

Mar. 19, 2020 3:29 PM EDT

U.S. long-term mortgage rates climbed this week in a whip-sawing market amid deepening anxiety over devastation to the economy from the coronavirus pandemic. The average rate on a 30-year fixed mortgage rose 3.65% from 3.36% last week, according to mortgage buyer Freddie Mac. This week Last week Year ago 30-year...

FILE - This June 13, 2019, file photo shows a new home is for sale in Mechanicsville, Va.  On Thursday, March 12, 2020, U.S. long-term mortgage rates were mixed this week after hitting all-time lows last week amid anxiety over risks to the economy from the deepening coronavirus crisis.    (AP Photo/Steve Helber, File)

US mortgage rates climb this week; 30-year loan at 3.65%

Mar. 19, 2020 1:06 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates climbed this week in a whip-sawing market amid deepening anxiety over devastation to the economy from the coronavirus pandemic. Home loan rates had hit all-time lows two weeks ago. Mortgage buyer Freddie Mac reported Thursday that the average rate on the...

FILE - In this Sept. 3, 2019 file photo a sign rests in front of a newly constructed home, in Westwood, Mass. Construction of new homes fell again in February 2020, but not as much as the previous month. Those declines follow a December surge which had pushed home construction to the highest level in 13 years. (AP Photo/Steven Senne, File)

New US home construction dips again in February

Mar. 18, 2020 10:02 AM EDT

WASHINGTON (AP) — Construction of new homes fell again in February, but not as much as the previous month. Those declines follow a December surge which had pushed home construction to the highest level in 13 years. Builders started construction on 1.60 million homes at a seasonally adjusted annual rate, a...

FILE - This June 13, 2019, file photo shows a new home is for sale in Mechanicsville, Va.  On Thursday, March 12, 2020, U.S. long-term mortgage rates were mixed this week after hitting all-time lows last week amid anxiety over risks to the economy from the deepening coronavirus crisis.    (AP Photo/Steve Helber, File)

Mortgage rates mixed this week after hitting all-time lows

Mar. 12, 2020 12:58 PM EDT

WASHINGTON (AP) — U.S. long-term mortgage rates were mixed this week after hitting all-time lows last week amid anxiety over risks to the economy from the deepening coronavirus crisis. The average rate on the benchmark 30-year loan rose to 3.36% from 3.29% last week — which was the lowest level...

FILE - This Jan. 9, 2020, file photo shows a sold sign is posted on a real estate sign outside a home in Derry, N.H.  On Thursday, March 5, U.S. long-term mortgage rates dropped to all-time lows this week as anxiety over risks to the economy deepened amid the burgeoning viral outbreak crisis. Mortgage buyer Freddie Mac says the average rate on the benchmark 30-year loan plummeted to 3.29% from 3.45% last week.  (AP Photo/Charles Krupa, File)

A record low on average 30-year fixed mortgage: 3.29%

Mar. 5, 2020 4:54 PM EST

Long-term U.S. mortgage rates have sunk to a record low, giving many homeowners an opening to refinance their loans to free up money to spend or save. The average rate on a 30-year fixed mortgage hit a record low of 3.29% this week from 3.45% last week, mortgage buyer Freddie Mac said Thursday. The decline is...

What the virus outbreak means for home loans, mortgage rates

Mar. 4, 2020 11:49 AM EST

The Federal Reserve cut short-term interest rates by half a percentage point on Tuesday in an effort to protect the economy from more damage from the virus outbreak. The move may present options for mortgage shoppers. What does all this mean for home buyers? Or those looking to lock in a mortgage rate? For owners...

This Feb. 18, 2020, photo shows a real estate sign in front of a home for sale in San Francisco. On Thursday, Feb. 27, Freddie Mac reports on this week’s average U.S. mortgage rates. (AP Photo/Jeff Chiu)

US mortgage rates decline; 30-year loan at 3.45%

Feb. 27, 2020 12:45 PM EST

WASHINGTON (AP) — U.S. long-term mortgage rates declined this week as growing concern over the economic impact of China's viral outbreak spurred a steep downturn in global stock markets. Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage fell to 3.45% from 3.49%...

FILE - In this Oct. 22, 2019, file photo a sign stands outside a home for sale in southeast Denver. On Thursday, Feb. 20, 2020, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/David Zalubowski, File)

US mortgage rates tick up this week, 30-year reaches 3.49%

Feb. 20, 2020 3:37 PM EST

WASHINGTON (AP) — U.S. mortgage rates rose slightly this week but they remain far below year-ago levels, which has provided a boost to home sales. Mortgage buyer Freddie Mac said Thursday that the average rate for a 30-year fixed-rate mortgage loan rose to 3.49% from 3.47% last week. That is down from...

FILE - This April 13, 2019, file photo, shows homes in suburban Salt Lake City. Americans shopping for a home this spring may face more competition than they have in years. (AP Photo/Rick Bowmer, File)

Buyers face more competition amid shortage of home listings

Feb. 13, 2020 2:02 PM EST

LOS ANGELES (AP) — Americans shopping for a home this spring may face more competition than they have in years. A strong labor market and growing pool of would-be buyers as more millennials enter their 30s is expected to fuel demand for homes at a time when the inventory of properties for sale is at the...