Denver, CO

Columbus, OH

Business Insider

These are today's mortgage and refinance rates. Mortgage rates dropped in response to cooler labor market data, including an increase in unemployment.

Mortgage Interest Rates Today, August 5, 2024 | Rates Down as Multiple Fed Cuts Look More Likely

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Trailer Empire

The bond market has been buoyed by the Federal Reserve's recent hints that a rate cut may be on the horizon this September, leading to a noticeable drop in mortgage rates. Investors are reacting to the Fed's subtle language changes, anticipating a potential shift in monetary policy.

Mortgage Rates Plunge as Fed Signals Potential September Rate Cut

CBS News

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  With Fed rates holding steady over the last couple of years, mortgage interest rates have stayed high overall — even hovering close to 8% at one point recently. And those high mortgage loan rates, coupled with the high cost of living and inflation, have led many potential homebuyers to pause their search for a home and a mortgage to buy it with.But in recent weeks, there has been some welcome news for potential homebuyers. Inflation has cooled slightly —...

How low will mortgage rates drop after the Fed cuts rates? Experts weigh in

With interest rate cuts from the Federal Reserve on the horizon, it could be a good time to shift cash, experts say. While many investors are getting 5% yields on money market funds, that will fall once the Fed starts cutting interest rates. Rates for high-yield savings and certificates of...

Here are some money moves to make before the Fed starts cutting interest rates

GOBankingRates

Housing prices have been increasing for the past decade, with median home values soaring to record highs in 2021. While the market has cooled slightly, high mortgage rates and low inventory have kept...

Will Home Prices Crash in 2026?

New York City, NY

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Cheryl E Preston

Yesterday was the third time this year that an ad stating Chelsea Clinton lives in a beautiful Virginia home popped up on my laptop. My computer did not warn me this was a dangerous site, so this time, I clicked on the link.

Chelsea Clinton is rumored to be living in Virginia but probably still in NYC

Mortgage interest rates continued to drop this week with growing expectations that interest rate cuts are coming. The 30-year fixed-rate mortgage averaged 6.77%, down significantly from last week's average of 6.89, according to Freddie Mac. That's the lowest level since mid-March. The 15-year fixed-rate mortgage also fell, averaging 6.05% this week.

Mortgage rates tumble; time for buyers to ‘get serious’

Raleigh, NC

Axios Raleigh

Data: Redfin; Chart: Axios VisualsAround one-third of houses for sale in the Raleigh metro area saw price cuts recently, according to Redfin data.Why it matters: Home sellers across the country are increasingly offering discounts to entice buyers hampered by high housing costs.What they're saying: "A housing market that for years has been defined by fast sales and few options is starting to look more like it did before the pandemic in terms of competition among buyers and their negotiating power," Zillow chief economist Skylar Olsen said.Yes, but: Despite more price drops in listings, the median sales price in Wake County in July was still up year over year — though just 1% to $490,000, according to data from Triangle Multiple Listing Services. What's next: Many real estate agents expect competition to heat up once summer vacation ends and kids are back in school.

List prices on homes in Raleigh are dropping more frequently

Rates were prepared to make a big move in one direction or the other heading into today's high stakes inflation data. Fortunately, the Consumer Price Index (CPI) came in quite a bit lower than expected, leading to a sharp decline in rates at the average lender. 30yr fixed rates had...

Mortgage Rates Drop Sharply After Inflation Data

Mortgage rates tumbled on Friday to their lowest since April 2023 after a weak jobs report sent bond yields sharply lower and boosted Wall Street's expectations for an interest rate cut from the Federal Reserve at its September meeting.The average rate for a 30-year fixed mortgage dropped 0.22 percentage points to 6.4%, according to Mortgage News Daily. That's the lowest average rate for the most commonly held home loan since April 2023, according to data from Freddie Mac. "The market is moving ahead of the Fed, bringing down longer-term rates including those for mortgages, which should lead to both more home...

Mortgage rates tumble to lowest since April 2023 after weak jobs report

Axios

Ditching his first home in suburban Minneapolis for a bigger one nearby more than doubled Michael Vennerstrom's mortgage rate, but he's OK eating the cost. Why it matters: Even this expensive housing market can't stop a young family running out of bedrooms or a Baby Boomer who's tired of cleaning an empty nest.

Why some homeowners are leaving their low mortgage rates behind

Virginia State

Axios Richmond

Since 2020, emergency department visits in Virginia by patients who said they vape jumped significantly, while visits by those who use traditional tobacco declined, according to stats from Virginia Hospital & Healthcare Association. Why it matters: The data suggests a shift away from traditional tobacco, like cigarettes and chewing tobacco, in favor of vapes and e-cigarettes, VHHA tells Axios. The big picture: The statewide shift mirrors broader trends. Traditional tobacco use has been steadily declining for decades, according to the CDC, as e-cig and vape use soars, particularly among children, per the World Health Organization. Zoom in: Last year, 49,356...

Virginia ER visits suggest a shift from cigarettes to vapes

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  Mortgage interest rates plummeted during the pandemic in 2020 and 2021, with rates on 30-year mortgage terms as low as 2.71%. But as the pandemic waned and inflation surged, the Federal Reserve raised its federal funds rate numerous times. That eventually led to the rate hitting a range between 5.25% and 5.50%, its highest point in 23 years. Mortgage rates rose in tandem, rising to their highest level since 2000 last summer. As the federal funds rate remained frozen...

What will mortgage interest rates look like when the Fed cuts rates?

Chicago, IL

Foodie in Chicago

Shortly before 3 AM, people in the Chicago area may have felt their houses shake as a 3.4-magnitude earthquake occurred about 60 miles west of the city. (CHICAGO) The United States Geological Survey (USGS) reported a 3.4-magnitude earthquake around Somonauk, IL. Somonauk is in DeKalb and LaSalle Counties, 64 miles west of Chicago.

Did You Feel the Earthquake?

Florida State

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Jacksonville Today

Republican Donald Trump has a 7-point lead over Democrat Kamala Harris among Florida voters, 49% to 42%, according to a new poll from the University of North Florida. Four percent are backing another candidate, and 6% are undecided or didn’t answer.

New Florida poll: Trump leads; support strong for abortion and recreational weed

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  On top of record-high home prices, a high interest rate environment has made it too expensive for many Americans to purchase a home. According to the Federal Reserve, the median sales price in the U.S. is $412,300, roughly 30% higher than in 2020. Meanwhile, 30-year fixed-rate mortgage rates have remained elevated for the past couple of years.However, the mortgage market has seen positive signs recently, with average mortgage rates hitting a four-month low in July. According to Freddie Mac,...

Will mortgage rates continue to drop this August? Here's what experts say

The average interest rate for a standard 30-year fixed mortgage is 6.75% today, a decrease of -0.12% since one week ago. The average rate for a 15-year fixed mortgage is 6.19%, which is a decrease of -0.10% from the same time last week. For a look at mortgage rate movement, see the chart below.

Mortgage Rates Plummet Following Poor Jobs Report. Today’s Mortgage Rates on Aug. 5, 2024

Axios Atlanta

Data: Redfin; Chart: Axios VisualsNearly 34% of metro Atlanta houses for sale saw price cuts recently, according to Redfin data.Why it matters: Home sellers across the country are increasingly offering discounts to entice buyers hampered by high housing costs.Flashback: Price cuts surged nationwide in 2022, partly because rising mortgage rates caused home shoppers to back out of the market.What they're saying: "A housing market that for years has been defined by fast sales and few options is starting to look more like it did before the pandemic in terms of competition among buyers and their negotiating power," Zillow chief economist Skylar Olsen said.What's next: Many real estate agents expect competition to heat up once summer vacation ends and kids are back in school.

Metro Atlanta home sellers keep chopping prices

Fox Business

The Federal Reserve signaled that a September rate cut is on the table, but would-be homebuyers are likely to continue facing mortgage rates above 6%.

Interest rate cuts are on the horizon, but high mortgage rates could be here to stay

New Jersey State

Nearly 50% of mortgaged homes were equity-rich in Q2 2024, compared with 45.8% in Q1 2024. While high home prices are a burden to prospective buyers, elevated home prices are causing homeowners’ equity to rise. According to a recent report from ATTOM, a provider of real estate data, 49.2% of U.S. mortgaged residential properties were equity-rich in Q2 2024, meaning their loan balances were no more than half of their market values. This is an increase from 45.8% in Q1 2024, reversing three consecutive quarterly declines and marking one of the biggest gains in five years. The rise in home equity is attributed to a 9% increase in home prices during the Spring buying season, setting a new median national price record of $365,000.

As Home Prices Rise, US Homeowner Equity Reaches New High in Q2 2024

Englewood, CO

Littleton, CO

Aurora, CO

NewsBreak

Why some Denverites are moving, despite higher rates

Denver sellers aren't delaying moves — and they're sweetening the deal for buyers. Why it matters: Even this housing market can't stop a Baby Boomer who's...

Why some Denverites are moving, despite higher rates

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