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.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.01% from 6.91%.
David Koch, the former host of Sunrise who is now Compare the Market's economic director, has issued a warning to mortgage holders tempted by the prospect of a lower home loan rate.
Korean drama Hide, Episode 5 ratings are out, and they are the highest the series has earned for its Saturday episode yet.
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
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.
Shop for a home now or hold out for the possibility of lower mortgage rates? That question is confronting many home shoppers this spring homebuying season. Lower rates give home shoppers more financial breathing room, so holding out for a more attractive rate can make a big difference, especially for first-time homebuyers who often struggle […]
By ALEX VEIGA (AP Business Writer) LOS ANGELES (AP) — Shop for a home now or hold out for the possibility of lower mortgage rates? That question is confronting many home shoppers this spring homebuying season. Lower rates give home shoppers more financial breathing room, so holding out for a more attractive rate can make […]
The numbers, while a crescendo on the rising unemployment numbers of Black Americans dating back to December 2023, have not yet risen to the point of alarm for experts.
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.
Inflation in the UK fell to its lowest level in two-and-a-half years in March after a further easing in food prices, official figures show, a development that could further pave the way for a welcome cut in interest rates soon. Consumer prices rose by 3.2 per cent in the year to March, down from 3.4 […]