LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level
Home loan rates have been mostly drifting higher after a string of reports this year showing inflation
By ALEX VEIGA (AP Business Writer) LOS ANGELES (AP) — The average long-term U.S. mortgage rate climbed this week to its highest level since late November, another setback for home shoppers in what’s traditionally the housing market’s busiest time of the year. The average rate on a 30-year mortgage rose to 7.17% from 7.1% last […]
The share of ARM applications rose to 7.8% of mortgage demand last week, according to the Mortgage Bankers Association. That is the highest level of the year.
The U.S. economy has faced a months-long stretch of stubborn inflation.
LOS ANGELES >> The average long-term U.S. mortgage rate climbed this week to its highest level since late November, another setback for home shoppers in what’s traditionally the housing market’s busiest time of the year.
The interest rate on a 30-year fixed-rate mortgage is 7.125% as of May 1, which is 0.375 percentage points lower than yesterday. Additionally, the interest rate on a 15-year fixed-rate mortgage is 6.625%, which is 0.125 percentage points higher than yesterday. With mortgage rates changing daily, it’s a good idea to check today’s rate before applying for a loan. It’s also important to compare different lenders’ current interest rates, terms, and fees to ensure you get the best deal. Rates last...
“It seems increasingly likely that mortgage rates are not going to come down anytime soon,” Bright MLS chief economist Lisa Sturtevant said.
US factory activity contracted in April on declining demand while input
US consumer confidence fell in April to the lowest since mid-2022 as
Consumer confidence fell sharply in April as inflation worries and a