Mortgage Industry News
A collection of Mortgage latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
What does the Fed interest rate cut mean for mortgages and homebuyers?
The Federal Reserve delivered a jumbo-sized rate cut this week in a move widely viewed as a declaration of victory over inflation and a signal of relief for borrowers. Few areas of the economy welcomed the news more than the nation's sluggish…
30-Year Mortgage Rate Drops to 6.09% After Fed Rate Cut
Mortgage rates dropped again this week, extending a monthslong decline fueled by expectations of a cut in interest rates by the Federal Reserve, which came into fruition on Wednesday. The average rate on 30-year mortgages, the most popular home…
Should You Refinance Your Mortgage After the Fed's Interest Rate Cut?
|Should You Refinance Your Mortgage After the Fed's Interest Rate Cut? https://www.nytimes.com/2024/09/19/business/mortgage-rates-refinance-fed-rate-cut.html Now that the Fed has made its first big move in years to lower interest rates, a question…
Today's mortgage interest rates: September 19, 2024
Published 3:23 PM EDT, Thu September 19, 2024 Today's mortgage interest rates are dropping. Here are the latest rates for popular home loans: 30-year fixed: 6.62% 15-year-fixed: 5.75% 30-year fixed jumbo: 6.73% Experts predict mortgage rates could…
Invesco Mortgage Capital Inc. stock rises Thursday, still underperforms market
Shares of Invesco Mortgage Capital Inc. IVR rallied 1.31% to $9.26 Thursday, on what proved to be an all-around great trading session for the stock market, with the NASDAQ Composite Index COMP rising 2.51% to 18,013.98 and the Dow Jones Industrial…
Best mortgages for first-time homebuyers
Rising home prices and high mortgage rates haven't made buying a home easy these last few years. In fact, with affordability such a challenge, it's only made shopping around for a lender that much more important. It's true: Comparing lenders can…
Mortgage rates are coming down - and home buyers are ready to pounce
For Americans mulling a home purchase, this week's interest rate cut meant just one thing: It's time to get back in the game. The Federal Reserve lowered interest rates by half a percentage point on Wednesday, the first rollback in four years.
Critical Defect Rate Rises to 1.58%, Per ACES Mortgage QC Industry Trends Report
DENVER, Colo., Sept. 19, 2024 (SEND2PRESS NEWSWIRE) — ACES Quality Management (ACES), the leading provider of enterprise quality management and control software for the financial services industry, announced the release of its quarterly ACES…
Average rate on a 30-year mortgage falls to 6.09%, lowest level since early February 2023
The average rate on a 30-year mortgage in the U.S. edged closer to 6% this week to its lowest level since early February 2023. The rate fell to 6.09% from 6.20% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged…
US home sales fell in August despite easing mortgage rates, more homes on the market
LOS ANGELES (AP) — Sales of previously occupied U.S. homes fell in August to the slowest annual pace in nearly a year even as mortgage rates eased and the supply of properties on the market continued to rise. Existing home sales fell 2.5%…
Here's how far mortgage rates have dropped already this year
After years of high mortgage rates that left countless would-be homeowners on the sidelines, the tide is finally turning in favor of those looking to enter the housing market. This week, the Federal Reserve slashed its benchmark rate by 50 basis…
Mortgage lenders cut rates ahead of Bank of England decision
Two mortgage lenders have cut their rates ahead of the Bank of England's announcement on the Bank Rate today. Virgin Money dropped its rates for both residential and buy-to-let mortgages by up to 0.2 percentage points to as little as 3.99pc, while…
U.S. home sales surprise fall in August despite easing mortgage rates
✓ Link copied to clipboard! U.S. home sales fell in August, hitting the slowest pace in nearly a year, despite lower mortgage rates and more homes on the market. According to the National Association of Realtors (NAR), existing home sales…
Mortgage rates may fall to below 3% - heralding 'big savings' for some borrowers
Mortgage deals could slump below 3% in a boost to millions of cash-strapped borrowers, experts predict. The Bank of England froze its base rate as expected yesterday (Thurs), but hinted at a cut to come. Its rate-setting monetary policy committee…
How much would a $750,000 mortgage cost per month now?
The homebuying landscape has been challenging over the last few years. As inflation remained persistent, an elevated interest rate environment dramatically increased the cost of borrowing, and other issues, like high home prices and limited…
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