With mortgage rates at the highest levels in over two decades, many Americans are curious about when borrowing costs will start to decline. Currently, the answer remains unclear, although some analysts believe that rates for home loans have likely reached their peak. The path for mortgages, as always, depends on the Federal Reserve’s plans for …
The recent surge in Treasury yields does not spell doom for equities, according to Savita Subramanian of BofA Securities, who appeared on CNBC’s “Fast Money” on Tuesday. Rather, Subramanian considers the rise in bond yields as a positive sign for the economy. Subramanian, the head of equity and quantitative strategy at BofA Securities, believes that …
House hunters may be in for a surprise when it’s time to secure a home loan. The interest rate on a typical mortgage has reached its highest level since 2000. According to the Mortgage Bankers Association (MBA), the average rate on a conventional 30-year fixed-rate mortgage has jumped to 7.31%, up from 7.16% the previous …
Zillow, in an attempt to stimulate the real estate market, has come up with an innovative solution for homebuyers. With interest rates currently at their highest in over two decades, Zillow is offering a 1% down payment deal. Furthermore, Zillow is willing to contribute an additional 2% to the down payment at closing, as reported …
The average long-term mortgage rate in the US has risen above 7% this week, reaching its highest level since 2001. This increase poses a challenge for prospective homebuyers who are already grappling with soaring home prices and a limited supply of properties on the market. According to Freddie Mac, the average rate for a …
US mortgage rates have reached their highest level in over 20 years, and experts suggest that they may continue to rise, potentially reaching as high as 8%. The Federal Reserve is considering raising interest rates further to address persistent inflation concerns. While mortgage rates are not directly tied to the Fed’s rate increases, they tend …
Many Americans eagerly await their payday. According to a report by LendingClub, as of June, 61% of adults in the United States are living paycheck to paycheck. This means that they rely solely on their regular paychecks to cover essential living expenses, with little to no money left over. A survey conducted by Bankrate reveals …
According to recent data from the Mortgage Bankers Association, the thirty-year mortgage rate reached a high of 7.09% in early August. This is the highest level since 2002, as shown by historical data from Freddie Mac. Unfortunately, rates are not expected to decrease in the near future, making it a challenging time for potential homebuyers. …
A new housing development has been constructed near the Mokelumne River in Stockton, California. Lawrence Yun, the chief economist for the National Association of Realtors, highlights the impact of the Federal Reserve’s actions on the housing industry. While the Federal Reserve’s interest rate hikes aim to control inflation, the bond market, specifically the spreads between …
In San Jose, California, Matthew Richmond leads a successful pest control company in Silicon Valley, living what he considers to be the American dream. At 32 years old, he can afford to pursue his adventurous passions, easily buying motorcycles or dirt bikes with a simple check. However, one thing he hasn’t purchased is a home, …