Latest Mortgages News

Long-term mortgage rates continue rise; 30-year breaks 3.5%

Jan. 20, 2022 13:37 PM EST

WASHINGTON (AP) — Average long-term U.S. mortgage rates continued to rise this week. The rate on the benchmark 30-year loan breached 3.5%. Home loan rates have been running in recent weeks at levels not seen since early 2020, when the coronavirus pandemic was breaking in the U.S....

December marks 3rd straight month of growth for US builders

Jan. 19, 2022 09:55 AM EST

SILVER SPRING, Md. (AP) — Construction of new homes in the U.S. rose for the third consecutive month in December and data released Wednesday suggests that the frantic pace of building will continue this year. The December increase puts home construction at a seasonally adjusted...

Lawyer outlines defense for indicted Baltimore prosecutor

Jan. 18, 2022 14:34 PM EST

BALTIMORE (AP) — Baltimore’s top prosecutor is innocent of federal charges that she lied about the pandemic harming her personal businesses to withdraw money from her retirement savings, her lawyer argued as he defended her purchase of two Florida vacation homes. Baltimore...

New York's pandemic-era eviction moratorium expires

Jan. 15, 2022 13:03 PM EST

NEW YORK (AP) — New York tenants and homeowners lost some protection from eviction and foreclosure Saturday as the state ended a nearly 2-year-old moratorium aimed at keeping New Yorkers from losing their homes during the coronavirus pandemic. Advocates and landlords don't expect a...

High-profile Baltimore prosecutor Marilyn Mosby indicted

Jan. 13, 2022 22:49 PM EST

BALTIMORE (AP) — A federal grand jury indicted Baltimore’s top prosecutor Thursday on charges of perjury and making false mortgage applications in the purchase of two Florida vacation homes, the Office of the U.S. Attorney for the District of Maryland said. The four-count...

US average long-term mortgage rates jump; 30-year now 3.45%

Jan. 13, 2022 10:09 AM EST

SILVER SPRING, Md. (AP) — Average long-term U.S. mortgage rates jumped again this past week, reaching their highest level since March 2020, just as the coronavirus pandemic was breaking in the U.S. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark...

US average long-term mortgage rates rise; 30-year at 3.22%

Jan. 06, 2022 12:59 PM EST

WASHINGTON (AP) — Average long-term U.S. mortgage rates rose in the past week to start the new year. They reached their highest level since May 2020, at the height of the coronavirus pandemic, yet remained historically low. Mortgage buyer Freddie Mac reported Thursday that the...

Red-hot housing market to fuel record borrowing in '22

Jan. 06, 2022 11:00 AM EST

LOS ANGELES (AP) — The fierce competition, low mortgage rates and soaring prices that helped raise mortgage borrowing to record heights last year is expected to drive lending even higher this year, experts say. Banks lent an estimated $1.61 trillion for home purchases last year,...

Virginia offers mortgage help to those impacted by pandemic

Dec. 31, 2021 08:24 AM EST

RICHMOND, Va. (AP) — Virginia has launched a statewide Mortgage Relief Program to help homeowners who’ve been financially impacted by the coronavirus pandemic. Gov. Ralph Northam announced the new program on Thursday. He said the state has received more than $250 million through...

Mortgage rates tick up but remain low in final days of 2021

Dec. 30, 2021 10:10 AM EST

SILVER SPRING, Md. (AP) — Average long-term U.S. mortgage rates moved slightly higher in the final week of 2021. Mortgage buyer Freddie Mac reported Thursday that the average rate on the benchmark, 30-year home loan ticked up to 3.11% this week from 3.05% last week. A year ago, the...