Mortgage Rates Rise to One-Month High on Jobs Report
The average U.S. rate for a 30-year fixed mortgage rose to the highest level in a month, reversing six weeks of declines, after last week’s employment report.
August 12, 2021 1 MIN
The average U.S. rate for a 30-year fixed mortgage rose to the highest level in a month, reversing six weeks of declines, after last week’s employment report.
The market share of purchase loans increased to 51% in June from 47% in the prior month as demand for refinancings weakened.
Homebuyers applying for a mortgage may find the credit score their loan officer sees isn’t the one they thought they had.
Mortgage rates are falling because of "uncertainty" caused by a resurgence of the pandemic, Freddie Mac's chief economist said.
An inventory shortage and high standards for mortgages will keep the U.S. from a repeat of the housing bust that occurred in 2008, Wells Fargo economists said.
The Federal Reserve on Monday announced guidelines for a $10 billion program aimed at keeping people with non-traditional mortgages in their homes.
Home prices are surging as low mortgage rates allow borrowers to get bigger mortgages, making it possible to bid higher on properties in a market where listings are scarce.
New-home sales fell 6.6% in June, the third consecutive decline, as the lack of properties remained a hurdle for house-shoppers who sought to take advantage of low mortgage rates.
Homeowners with mortgages backed by the departments of Housing and Urban Development, Agriculture or Veterans Affairs could get their monthly payments reduced under new guidelines aimed at avoiding foreclosures.
Sales of existing homes rose 1.4% and prices surged in June as an uptick in listings helped buyers find properties.
Allowing the VA loan fees to reset as scheduled will save veterans and active-duty military members about $200 million annually, the lenders’ group said.
A homebuyer would need $48,435 of annual income to qualify for a mortgage on a $180,000 median-priced home in Detroit, making it the most affordable U.S. metro area.
Don't wait until you find your dream house to check your credit reports for errors.
Flood insurance is separate from your standard homeowner’s insurance, and if you are buying in a flood plain, most lenders
