The average rate on the popular 30-year fixed mortgage crossed over 7% on April 1, according to Mortgage News Daily, and it just kept going. It now sits right around 7.5%, the highest level since mid-November of last year. Rates hit their highest level in a few decades last October, causing home sales to grind to a halt. Builders jumped to buy down rates for their customers and managed to do better than existing home sellers. Rates then fell through mid-January to the mid-6% range and held there...
The average rate on the popular 30-year fixed mortgage sits around 7.5%, the highest level since mid-November of last year, according to Mortgage News Daily.
“It seems increasingly likely that mortgage rates are not going to come down anytime soon,” Bright MLS chief economist Lisa Sturtevant said.
The number of mortgage applications, including refinancings and additions, increased by 16 percent in the first quarter of 2024 compared to the same quarter last year. Applications for the purchase of a home increased by 19 percent, De Hypotheker reported on Wednesday. Half of these applications were from young home buyers under the age of 35.
Mortgage interest rates have fallen across a range of products in recent weeks
Electric vehicle registrations rose in recent years despite interest rates also rising. Experts caution Canada's transition to EVs could still be challenging.
Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months. The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate […]
Experian reports on what may be behind an increase in consumer personal debt including credit card, auto loan and mortgage payments.
The Queen of Tears, Episode 14 ratings just missed knocking Crash Landing on You off its #4 perch on the highest-rated cable TV dramas list -- but, here's why it will easily do it next weekend.
LOS ANGELES (AP) — Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months. The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A […]
Home loan rates have been mostly drifting higher after a string of reports this year showing inflation