Mortgages

On Wednesday, Gallup and the Lumina Foundation released a new report on the cost of college and how high education costs impact students' decisions to stay in school and make major life choices.Based on surveys conducted from October and November 2023 with over 13,000 adults aged 18 to 59, the report found that cost is…

Many boomers are holding on to their large homes, stressing the housing market for younger buyers.For millennials with growing families, purchasing a home has become even more difficult.For Biden and Trump, the issue of housing affordability could make or break their candidacies. Thanks for signing up! Access your favorite topics in a personalized feed while…

The average US household now spends $25,513 a year on the 10 most common bills.The biggest monthly bills Americans pay each month are mortgage, rent, and auto loans.Other bills like utilities, mobile phones, and health insurance have also skyrocketed.Despite lower inflation in the last 18 months, many Americans still don't feel great about the economy,…

Today’s mortgage rates If you’re in the market for a home, here are today’s mortgage rates compared to last week’s. Loan type Interest rate A week ago Change 30-year fixed rate 6.98% 6.85% +0.14 15-year fixed rate 6.47% 6.41% +0.06 10-year fixed 6.37% 6.20% +0.17 5/1 ARM 6.61% 6.44% +0.17 30-year jumbo mortgage rate 7.08%…

This as-told-to essay is based on a conversation with Grace Lucchese, 23, a behavioral analyst, and her partner, Mickey Ricard, 24, a veteran and an HVAC technician, who purchased a home with an assumable mortgage in Westford, Massachusetts in January. An assumable mortgage allows qualifying buyers to acquire the interest rate, current principal balance, and…

Jandra Sutton feels like a lucky millennial. She and her partner were able to sell their house in suburban Tennessee and buy a condo in downtown Nashville in 2019, before mortgage rates and home prices skyrocketed.A few years of suburban living had made the couple "miserable," says Sutton, a 34-year-old writer and content creator. "The…

There are signs the frozen housing market is starting to thaw after a year where higher mortgage rates drove potential buyers away, according to Redfin.The real-estate brokerage said in a report published Thursday that demand has started to pick up again, with its Homebuyer Demand Index jumping 10% over the past month to hit its…

Redfin's CEO said the housing market is at "rock bottom."That may be true for buyers, but for sellers, the crunch can still get worse.There is no end in sight for high mortgage rates, and sellers are dropping prices. Thanks for signing up! Access your favorite topics in a personalized feed while you're on the go.…

Homeowners with certain loans can sell their low-interest-rate mortgages to qualified buyers.The transaction is called an assumable mortgage, which has grown in popularity as rates have risen.Assumable mortgages are hard to find, take long to process, and are only good for certain buyers. Thanks for signing up! Access your favorite topics in a personalized feed…

The Federal Reserve continued its pause on interest rate hikes on Wednesday.It also projected three interest rate cuts in 2024.That could mean cheaper costs to borrow money — from credit cards to mortgages to business loans. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you're on…