mortgage news

What Happens to Your Mortgage and Property Tax When You Lose Your Home in a Natural Disaster?

If your house has been damaged or destroyed by a natural disaster, you will still have financial responsibilities. Here's a quick guide.

Fed Slashes Interest Rates, But Mortgage Rates Surge Up to 6.72% - Here's Why It's Happening

The average contract rate was 6.60% last week before climbing up to 6.72% this week following the Federal Reserve's latest cut.

Mortgage Rates Inches Down to 6.81%. Here's How Much You Need To Buy a Median-Priced Home With That Rate

Mortgage rates inched down by 0.03% for the 30-year fixed-term loan. The contract rate for the 15-year term climbed in the same week.

Fed Cuts Interest Rates Down to 4.8%; Here’s What It Means for the Housing Market and Mortgages

The central bank's recent cut could bring mortgage rates down for the 30-year term and encourage sellers back into the market.

Here’s How Much Your Monthly Mortgage Payments Will Fall After the Fed Cuts Rates

The contract rate for the 30-year and the 15-year fixed terms are expected to fall between 25 basis points to half a percentage point after the Fed cuts its interest rates.

Mortgage Rates Fall To Lowest Level Since February 2023, Monthly Payments May Also Decline

The average contract rate for the 30-year term fell to 6.29% this week, which is 0.14 points lower from last week's rate of 6.43%.

Real Estate Forecast: Will It Rise or Fall This September? Here's What Will Happen in Federal Reserve's Meeting

Financial experts are expecting the Federal Reserve to cut its benchmark rate on Sept. 18, which could make mortgage rates fall or rise.

30-Year Mortgage Rate Drops Ahead of the Fed Cut, the Lowest Level in 16 Months

The contract rate for the 30-year loan fell to 6.44% in the week ending Aug. 23, marking the lowest level recorded since April 2023.

The Fed Is Expected To Cut Interest Rates on September 18, Mortgage Rates May Fall as a Result: Report

The Fed could make a quarter-point or a half-point cut on their interest rates during their next meeting.

US Monthly Mortgage Payments Fell to $2,500, Declining for the First Time Since 2020

Mortgage payments fell after contract rates declined to 6.46% in the week ending Aug. 22. The median monthly mortgage payments in the United States fell to just over $2,500, marking the lowest level recorded in four years.

30-Year Mortgage Rate Dips To Lowest Average Since 2023; Existing-Home Sales Rise

The average contract rate for a 30-year mortgage in the week ending Aug. 22 was 0.77% lower compared to the same week in 2023.

Should You Wait for Mortgage Rates To Fall Before Buying a Home? Here’s What Experts Say

Mortgage rates have fallen to 6.49%, the lowest recorded in over a year. The housing market has been tough for hopeful buyers over the last few years, but with mortgage rates now declining, the market could potentially see a rise in demand.

US Mortgage Rates See Sharp Decline, Lowest Level Recorded in Over a Year

Mortgage rates on a 30-year loan dropped to 6.47% this week, falling from a peak of 7.22% in May this year.

Here’s What Experts Say Could Happen to Mortgage Rates After the July Fed Meeting

The Federal Reserve has said it will cut benchmark rates if inflation falls to 2%. The Federal Reserve is set to meet this month to discuss whether inflation has gone down to its target level and whether it could cut its benchmark rate.

Average Mortgage Rate for 30-Year Loans Climbs to Just Under 7%, the First Increase Since May

The average contract rate on a 15-year mortgage also rose this week by 0.09%. The average contract rate for a 30-year mortgage climbed to just under 7% this week, the first time it increased since late May.

Thousands of Homeowners May Pay Higher Monthly Mortgages as ARMs Reset: Report

The adjustable-rate mortgage loans already reset for 328,000 homeowners. More than 100,000 homeowners in the United States are likely to get slammed with higher monthly mortgage payments as the fixed period for adjustable-rate mortgage (ARM) loans resets this year.

Biden Administration Green Lights New Program for Purchasing Second Mortgages

The new pilot program will allow Freddie Mac to purchase certain single-family closed-end second mortgages.

Mortgage Rates Soar Past 7% Again: Freddie Mac

Mortgage rates climbed to 7.03% in the week ending May 30. The rate for the average 30-year fixed mortgage loan soared past 7% this week, marking an end to the recent declines.

4 Things That Need To Happen for Mortgage Rates To Fall, According to Experts

Mortgage rates have remained elevated in recent weeks despite falling from a peak of 8% in October 2023.

Mortgage Rates Will Likely Remain Elevated ‘For the Foreseeable Future’: Expert

Mortgage rates are currently at 7.09% for the 30-year loan and 6.38% for the 15-year term. Mortgage rates are likely to remain elevated for the next few months after the Federal Reserve put a hold on interest rate cuts last week.

Mortgage Rates Expected To Stay Above 6% Through 2025: Report

Mortgage rates were previously forecasted to drop to 5.9% by the end of 2024. Mortgage rates are now expected to stay above 6% until the fourth quarter of the year 2025, according to a government-backed organization.

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  What Happens To Your Mortgage And Property Tax When You Lose Your Home In A Natural Disaster?