Mortgage rates are climbing back toward 7 percent on fears that tariffs could reignite inflation, but Federal Reserve Chairman Jerome Powell warns policymakers would be challenged if unemployment also rises. Continue reading
Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades. Continue reading
Focusing exclusively on monthly payments can mean borrowers lose sight of the advantages, and drawbacks, of various loan products. Trainer Bernice Ross looks at some alternatives to the 30-year fixed rate mortgage. Continue reading
Thirty-year, fixed-rate loans hit 6.982 percent on Oct. 13, a new 2022 high, according to an Optimal Blue Mortgage Market index. According to an index by Mortgage News Daily, rates were at 7.15 percent. Continue reading
Rates for borrowers with lower credit scores who are making smaller down payments have already climbed past 7 percent. Continue reading
Purchase loan applications continue to be weaker “due to the combination of much higher mortgage rates and the worsening economic outlook,” said MBA forecaster Joel Kan. Continue reading
A lender survey shows demand for purchase mortgages rose for a second week in a row, but borrowers are increasingly turning to adjustable-rate loans. Continue reading
If mortgage rates rise by another half a percentage point — or if home prices go up another 5 percent — affordability will hit the worst levels on record, Black Knight warned on Monday. Continue reading
ARM loans accounted for 17 percent of mortgage applications by dollar volume, with the average borrower seeking a $728,900 loan. Continue reading
No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading