Mortgage rates top 7% for the first time since May 2024
As rates climb, more buyers are seeking riskier adjustable-rate mortgages, according to the Mortgage Bankers Association.
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As rates climb, more buyers are seeking riskier adjustable-rate mortgages, according to the Mortgage Bankers Association.
A growing number of Americans, squeezed by inflation and elevated interest rates, face the risk of losing their home in foreclosure.
Mortgage rates jumped higher on Monday following Moody's downgrade of U.S. debt, adding to the headwinds facing homebuyers.
Kris Lindahl talks about what the current environment will mean for prospective sellers, buyers and refinancers the rest of this year.
Many so-called zombie mortgages date back to the 2008 financial crisis, and consumer advocates warn a new wave of zombies could be on the horizon — this time, from all the home equity credit lines taken out during the pandemic.
The median mortgage payment jumped to a record $2,843 in April, up nearly 13% from a year ago, a new analysis finds.
In a positive sign for the housing market, a growing number of consumers think mortgage rates are likely to decline this year.
Mortgage rates recently hit their highest levels in more than two decades, pricing many out of the market. Here's what to expect in 2024.
"Even places that historically have been affordable now need six figures," according to Redfin's chief economist.
The average rate for a 30-year home loan crossed the 8% threshold this week, deepening the affordability crisis for homebuyers.
The average interest rate on a typical mortgage is now 7.49%, worsening the nation's housing affordability crunch.
In Northern California, home prices jumped during the pandemic. Since then, the region has seen some of the steepest price declines in the country.
After 10 straight interest-rate hikes, borrowers face sharply higher costs for credit cards, mortgages and other loans.
The average first-time homebuyer puts from 5% to 7% down. In the first quarter of 2023, that amounted to $24,000. More local homebuyers who can't afford a down payment that large are asking about the 1% option.
Beginning May 1, some people with higher credit scores may actually end up paying a higher fee.
Surge in borrowing costs is pushing some buyers out of the market, while sellers face a quandary.
Interest rate on a typical 30-year mortgage rate has jumped by more than a quarter-point this week to 6.29%.
Borrowing costs for a conventional home loan have more than doubled over the last year.
