Mortgage Rates

These four cities will see 2008-like correction in home prices: Goldman Sachs

Goldman Sachs, a multinational investment bank, forecasts home prices will fall further in 2023 than initially expected.

30-Year Fixed Mortgage Rate at 15-Month High of 3.93%

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.93 percent, up from 3.87 percent.

Homebuilders still need lower mortgage rates

How are homebuilders positioned heading into spring? It’s all about mortgage rates as they move through a backlog of unfinished homes.

Mortgage Rates Lowest Ever, Woo.

About a month ago, I discussed whether mortgage rates could drop any lower. At that time, the en vogue 30-year fixed-rate mortgage averaged 4.32%, per Freddie Mac data. Today, expectedly, it hit a fresh all-time low, falling to 4.12%. Freddie attributed it to “market concerns over Eurozone sovereign debt default and a weak U.S. employment… Read More »Mortgage Rates Lowest Ever, Woo.

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U.S. economy expands at a faster-than-expected 2.9% pace

The U.S. economy expanded at a healthy pace in the fourth quarter, though an extended salvo of Federal Reserve interest-rate hikes is seen jeopardizing growth prospects this year. Gross domestic product increased at a 2.9% annualized rate in final three months of 2022 after a 3.2% gain in the third quarter, the Commerce Department’s initial … [Read more…]

Optimism spreads after new home sales climb in December

Mortgage rates are falling and builders are offering incentives to buyers, but that wasn’t enough to prop up new home sales in 2022. 

30-Year Fixed Mortgage Rates Increase for First Time Since March

Mortgage rates for 30-year fixed mortgages increased this week, with the current rate borrowers were quoted on Zillow Mortgage Marketplace at 3.39 percent, up from 3.25 percent at this same time last week.

Affordability improves, as do hopes for a good spring  

Affordability has improved in the mortgage market since December due to declines in mortgage rates and slower home price appreciation.

There Is No Free Mortgage

You’ve heard the term “no free lunch.” Well, the same is true of home loans. There is no “free mortgage.” Sure, banks and lenders will offer deals that make it look that way. They’ll give you a mortgage without closing costs. Or without points. But that doesn’t mean it’s free. At the end of the… Read More »There Is No Free Mortgage

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30-Year Fixed Mortgage Up Slightly

Mortgage rates for 30-year fixed mortgages rose this week, with the current rate borrowers were quoted on…