Michele Lerner, The Washington Post Published 8:02 am PDT, Thursday, July 25, 2019 Mortgage rates dipped slightly to a nearly three-year low because of concern about a potential global economic slowdown and some weak home sale news. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to 3.75% with an average 0.5 point. (Points are fees paid to a lender equal to 1% of the loan amount and are in addition to the interest rate.) It was 3.81% a week ago and 4.54% a year ago. The 15-year fixed-rate average declined to 3.18% with an average 0.5 point. It was 3.23% a week ago and 4.02% a year ago. The five-year adjustable rate average dropped to 3.47% with an average 0.4 point. It was 3.48% a week ago and 3.87% a year ago. "This is good news for buyers, particularly when you compare rates to a year ago," said Danielle Hale, chief economist for Realtor.com. "Based on a typical listing of $316,000 with a 20% down payment, buyers … [Read more...] about Mortgage rates fall, reaching nearly three-year low
25 year mortgage refinance rates
By Holden Lewis of NerdWallet Published July 13, 2019 Personal Finance NerdWallet.com Facebook Twitter Comments Print video MBS Highway CEO on mortgage rates: We’re going to see the lowest rates we have ever seen MBS Highway founder & CEO Barry Habib gives his take on the U.S. housing market and explains why Americans should refinance their homes. Mortgage rates have fallen so much lately that millions of homeowners might benefit by refinancing — even if they bought a home just last year. A typical refinancer could save more than $150 a month. Continue Reading Below Some homeowners have gotten the message: Refinance applications have almost doubled compared to a year ago, according to the Mortgage Bankers Association. But many homeowners might be unaware that mortgage rates have declined so dramatically that they could save money by refinancing. MORE FROM FOXBUSINESS.COM IT'S PEAK MOVING SEASON: SHOULD YOU RENT OR BUY? … [Read more...] about Good time to refinance your mortgage?
Updated 9:16 am PDT, Thursday, June 27, 2019 This June 20, 2019, photo shows an existing home is offered for sale in Rutledge, Ga. On Thursday, June 27, Freddie Mac reports on this week’s average U.S. mortgage rates. This June 20, 2019, photo shows an existing home is offered for sale in Rutledge, Ga. On Thursday, June 27, Freddie Mac reports on this week’s average U.S. mortgage rates. Photo: John Bazemore, AP Photo: John Bazemore, AP Image 1 of / 1 Caption Close Image 1 of 1 This June 20, 2019, photo shows an existing home is offered for sale in Rutledge, Ga. On Thursday, June 27, Freddie Mac reports on this week’s average U.S. mortgage rates. This June 20, 2019, photo shows an existing home is offered for sale in Rutledge, Ga. On Thursday, June 27, Freddie … [Read more...] about US long-term mortgage rates fall; 30-year loan at 3.73%
Susan Tompor Detroit Free Press Published 7:00 AM EDT Apr 3, 2019 Economic gurus got one part of the mortgage forecast for 2019 correct. We're certainly seeing a volatile year for rates. What they didn't see coming: Mortgage rates tumbled in March, the biggest one-week fall in a decade. Now — instead of seeing mortgage rates edge closer to 5.25% as some had predicted we'd see in 2019 — we're looking at an average 30-year rate near 4%. The rate drop comes just in time for the spring home-buying season and will make monthly payments less expensive. "This drop in rates is going to give the housing market a boost," said Bill Banfield, executive vice president of capital markets for Quicken Loans. "It could help to make people come back into the market and consider buying a home." Mortgage rates have fallen by a full percentage point since late 2018. Going back four months or so, most forecasts weren't expecting mortgage … [Read more...] about Mortgage rate drop gives home buyers a surprise and a boost
Susan Tompor Detroit Free Press Published 6:00 AM EST Jan 3, 2019 Many times, the New Year kicks off with a huge financial hangover. But this year, we're looking at even more reasons to keep an eye on our money. All sorts of economic headwinds will influence everything from how much we pay for gas to how much we take home in our paychecks to the size of our tax refunds in 2019. Here's a look at some trends that could hit your wallet in the New Year: Gas prices may rise No, your eyes aren't playing tricks when you just spotted a sign for gas at less than $2 a gallon. Michigan is one of 13 states with average gas prices below $2, according to GasBuddy.com. You'd have to go back to April 11, 2016, to find prices that low. Just a year ago, Michigan drivers were paying an average of $2.67 a gallon. Consumers are saving nearly 68 cents a gallon — which adds up to roughly $8 per average fill-up, according to Patrick DeHaan, head of petroleum analysis at … [Read more...] about Gas prices, mortgage rates kick off the New Year by going down