25 April 2024
WashingtonCNN — Home sales based on contract signings unexpectedly jumped in March despite elevated mortgage rates that month. And the latest data from Freddie Mac showed that mortgage rates edged higher this week, reaching a fresh five-month high. Pending home sales — a forward-looking indicator based on contract signings rather than closings — climbed 3.4% in March, […]
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25 April 2024
The U.S. economy continued to grow early this year, but at a sharply slower rate as strong consumer spending was offset by higher prices and pockets of weakness in other sectors. Gross domestic product, adjusted for inflation, increased at a 1.6 percent annual rate in the first three months of 2024, down from 3.4 percent at the […]
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25 April 2024
Today’s 30-year fixed mortgage rate is 7.65% which is slightly higher than last week’s 7.63%, according to data from Curinos. This is an increase from last month’s 7.29%. Last year around the same time, 30-year fixed rates were 5.92%, which makes today’s rate much higher than it was a year ago. At the current 30-year fixed rate, […]
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24 April 2024
According to data from Curinos, mortgage rates for a 30-year fixed-rate loan sit at 7.65%. This means they’ve risen slightly from 7.63% last week. Last month, rates were at 7.29%, putting today’s rates significantly higher and up from 5.92% last year. The 30-year fixed-rate average today is 1.48 percentage points below the 52-week high of […]
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24 April 2024
As of April 19, 2024, the mortgage landscape in the United States has been marked by a period of fluctuation, with rates experiencing a slight increase. Here’s an analysis of current averages and expert predictions for the next two years. The average rate for a conventional 30-year fixed mortgage was reported at 7.22%, while the […]
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24 April 2024
Finding an affordable place to live in the U.S. can feel pretty impossible whether you’re a renter or a buyer. To begin with, there’s a massive shortage of homes — somewhere between 4 and 7 million. And those who are able to find homes are spending a much bigger chunk of their paycheck than in recent […]
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23 April 2024
NEW YORK — Sales of newly built single-family homes in the United States soared in March despite mortgage rates remaining elevated that month. New home sales, which make up about 10% of the market, jumped 8.8% last month to a seasonally adjusted annual rate of 693,000, according to government figures released Tuesday. That trounced the […]
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23 April 2024
This past week, the average daily mortgage rate climbed to over 7.4%, marking its highest point since last November 2023, influenced by an unexpectedly high inflation report and confirmation from the Federal Reserve that interest rate reductions would be postponed. Concurrently, home prices have also ascended, with the median sale price of U.S. homes rising […]
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23 April 2024
Today’s 30-year fixed mortgage rate is 7.67% which is higher than last week’s 7.63%, according to data from Curinos. This is an increase from last month’s 7.29%. Last year around the same time, 30-year fixed rates were 5.92%, which makes today’s rate much higher than it was a year ago. At the current 30-year fixed rate, you’ll […]
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22 April 2024
US regional banks are expected to set aside more money to cover potential commercial real estate (CRE) losses and sell more property loans as the sector remains under pressure a year after the collapse of Silicon Valley Bank and Signature Bank. Most multifamily loans are made by regional banks, so when New York Community Bank […]
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22 April 2024
NEW YORK, April 22 (Reuters) – U.S. borrowers on lower incomes are increasingly struggling to keep up with their loan payments, according to recent data and bank executives, prompting banks to become more cautious about dishing out credit cards and car loans. A growing number of Americans have seen their savings dwindle as rising prices squeeze budgets […]
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22 April 2024
The average mortgage rate for 30-year fixed loans rose today to 7.68% from 7.59% last week, according to data from Curinos. This is up from last month’s 7.40% and up from a year ago when it was 5.92%. At the current 30-year fixed rate, you’ll pay about $710 each month for every $100,000 you borrow — up […]
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19 April 2024
U.S. economy: The U.S. economy continued to grow at a seasonally adjusted annual rate (SAAR) of 3.4% in Q4 2023 as per the third and final estimate of the Real Gross Domestic Product (GDP) closing out 2023 at 2.5% SAAR compared to the 2022 annual levels.1 While growth in Q4 2023 softened compared to the 4.9% growth […]
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19 April 2024
LOS ANGELES (AP) — 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. The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A […]
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19 April 2024
WASHINGTON, April 18 (Reuters) – The number of Americans filing new claims for unemployment benefits was unchanged at a low level last week, pointing to continued labor market strength that is driving the economy. Labor market resilience, together with elevated inflation have led financial markets and some economists to expect that the Federal Reserve could delay cutting interest rates […]
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18 April 2024
Sales of existing homes in the United States pulled back in March, according to industry data released Thursday, with transactions bogged down by elevated mortgage rates. Existing home sales fell 4.3 percent from February to a seasonally adjusted 4.19 million rate, said the National Association of Realtors (NAR). The figure was in line with analyst expectations. To continue reading the rest […]
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18 April 2024
Today’s 30-year fixed mortgage rate is 7.68% which is higher than last week’s 7.53%, according to data from Curinos. This is a steep increase from last month’s 7.44%. Last year around the same time, 30-year fixed rates were 5.92%, which makes today’s rate much higher than it was a year ago. At the current 30-year fixed rate, […]
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17 April 2024
A look at the shareholders of New York Mortgage Trust, Inc. (NASDAQ:NYMT) can tell us which group is most powerful. We can see that institutions own the lion’s share in the company with 56% ownership. Put another way, the group faces the maximum upside potential (or downside risk). To continue reading the rest of the […]
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17 April 2024
US mortgage rates climbed to a four-month high last week, potentially signaling a bumpier recovery for the residential real estate market. The contract rate on a 30-year fixed mortgage rose 12 basis points to 7.13% in the week ended April 12, according to Mortgage Bankers Association data released Wednesday. To continue reading the rest of the article, […]
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17 April 2024
According to data from Curinos, mortgage rates for a 30-year fixed-rate loan sit at 7.73%. This means they’ve risen from 7.34% last week. Last month, rates were at 7.44%, putting today’s rates significantly higher and up from 5.93% last year. The 30-year fixed-rate average today is 1.40 percentage points below the 52-week high of 9.13% and 2.10 […]
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16 April 2024
The recent rise of the average long-term U.S. mortgage rate, which poses a new obstacle to aspiring homeowners hoping to purchase a property during this homebuying season, could have dramatic consequences on the country’s housing market. The national weekly average for 30-year mortgages, the most popular in the nation, was 6.88 percent as of April […]
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16 April 2024
The Northeast suffered the sharpest decline in activity in March as mortgage rates brush 7% for a 30-year fixed rate loan. The pace of new construction slowed in March, as housing starts fell by 14.7% from a month earlier and permits dropped by 4.3%. The biggest slowdown came in the Northeast region of the country, […]
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