Contrary to the NYT, Mortgage Rates are Unlikely to Stay Where They Are
by www.counterpunch.org
www.counterpunch.org— The New York Times did a classic the economy is awful story by highlighting the fact that 1.3 million homeowners might not be moving because of the large gap between current mortgage rates and the rate they would have to pay on a new mortgage. While this is clearly a problem, the flip side is More
Fox Business—Today's 30-year mortgage rates plummet while 15-year mortgage rates rise | May 1, 2024. 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...
CNBC—Demand for riskier adjustable-rate mortgages hits highest level of the year, due to rising rates. 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.
BBC—Nationwide, Santander and NatWest to raise mortgage rates. Nationwide, Santander and NatWest will increase their rates on home loans amid uncertainty in the sector.