America’s prospective homebuyers absorb harsh reality: Mortgage rates probably aren’t coming down for a while

By: Many Americans have been holding back from jumping into the housing market in the hopes that mortgage rates will decline. So far, they haven’t. The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say, NBC reports. A combination of…

Read More

Today’s 30-year mortgage interest rates drop to 6.88% while 15-year terms fall to 6.00%

By: The median interest rate on a 30-year fixed-rate mortgage is 6.88% as of November 8, which is 0.11 percentage points lower than yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.00%, which is 0.13 percentage points lower than yesterday. Due to encouraging economic data, the Fed cut the federal funds rate…

Read More

Today’s 30-year mortgage interest rates rise to 6.99% while 15-year terms climb to 6.13%

By: The median interest rate on a 30-year fixed-rate mortgage is 6.99% as of November 7, which is 0.11 percentage points higher than yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.13%, which is 0.13 percentage points higher than yesterday. Federal Reserve policymakers are weighing another interest rate cut this week. According…

Read More

Today’s 30-year mortgage interest rates hold at 6.88% while 15-year terms drop to 6.00%

By: The median interest rate on a 30-year fixed-rate mortgage is 6.88% as of November 6, which is unchanged from yesterday. Additionally, the median interest rate on a 15-year fixed-rate mortgage is 6.00%, which is 0.13 percentage points lower than yesterday. Federal Reserve policymakers are weighing another interest rate cut this week. According to Freddie Mac,…

Read More