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...
All eyes will once again turn to the Federal Reserve this week as they meet to discuss the next steps with interest rates and economic policy. Specifically, will they raise rates above their current 23-year high? Or will they keep them steady following a series of disappointing inflation reports at the start of 2024? After all, rate cuts that seemed promising at the beginning of the year now seem off the table, possibly for the rest of the year. And while the Fed doesn't directly dictate rates...
Homeowners are facing a hike in monthly payments with some forced to extend mortgage terms or even sell and move
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.
Nationwide, Santander and NatWest will increase their rates on home loans
Wednesday brought a full schedule of events and data for the bond market to digest and bonds dictate day to day changes in mortgage rates. The morning's data was perfectly palatable, resulting in modest strength heading into the afternoon's Fed announcement. Contrary to impression given by many news headlines on Fed day, there is rarely any significance to the Fed's actual decision to hike/cut/hold steady at any given meeting by the time the meeting actually happens. Markets will...
We need to convince young people to have more kids. One way to do that might be to stop feeding their victimhood complex.
As Jews worldwide gather around the Seder table this week for Passover, recounting the biblical story of the Israelites’ escape from slavery in Egypt, Lauren Comiteau reflects on injustices past and present, adding a second helping of bitter herbs to her own Seder plate. The Dutch National Holocaust Museum opened last month with much pomp and ceremony—and protest—all broadcast live on national television. There was Dutch king Willem-Alexander wearing a yarmulke and talking about how Sobibor...
rewrite this content and keep HTML tags The 2024 federal budget announced on April 16 included plans to introduce “halal mortgages” as a way to increase access to home
“It seems increasingly likely that mortgage rates are not going to come down anytime soon,” Bright MLS chief economist Lisa Sturtevant said.
LOS ANGELES >> 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.