Mortgage rates are slowly inching down - or perhaps more accurately - centi-metering down. The 30-year fixed-rate mortgage (FRM) averaged 6.86% Thursday, according to the results of Freddie Mac’s Primary Mortgage Market Survey. That’s down exactly one basis point from last week, when the 30-year FRM averaged 6.87%.

Average Mortgage Rate Drops One Basis Point From Last Week

New York Post

In recent years, mortgage rates in the US have soared to their highest levels in more than two decades, leaving many potential homebuyers and sellers wary. 

The Federal Reserve’s efforts to combat languishing inflation have played a significant role, as the central bank raised interest rates 11 times from 2022 to 2023, taking the benchmark federal funds rate from 0% to 5.25-5.50%, according to Yahoo Finance.

Today, the median monthly mortgage payment on a new home stands at $2,256, about 7% higher than last year, the Mortgage Bankers Association (MBA) reports. So, when will mortgage rates go down? Experts from Fannie...

This is when you can expect mortgage rates to go down — and why you should buy before a recession hits

Business Times

The national average for a 30-year fixed-rate mortgage has declined for the fourth consecutive week. According to Freddie Mac's latest report, the rate inched down to 6.86% from 6.87% the previous week, marking its lowest point since early April. This trend offers a glimmer of hope for a housing market that has been sluggish due to high rates and affordability challenges.

Mortgage Rate Eases to 6.86%, Lowest Since April, Amid Expectations for Continued Decline

The average interest rate for a standard 30-year fixed mortgage is 6.96% today, a decrease of -0.09% compared to one week ago. The average rate for a 15-year fixed mortgage is 6.37%, which is a decrease of -0.14% since last week. For a look at mortgage rate movement, see the chart below.

30-Year Fixed Rate Near Lowest Point In Months. Today’s Mortgage Rates on June 20, 2024

Fox Business

New Freddie Mac product would help homeowners tap their home equity without losing their existing low-rate first mortgages.

Freddie Mac proposes product to help homeowners tap home equity without losing record low mortgage rates

The Motley Fool

Nvidia and Chipotle are reducing their share prices. What could this mean for long-term investors?

2 Stock-Split Stocks to Buy Hand Over Fist

Texas State

Writers represent independent, third-party users who have joined our contributor program and self-verified their accounts. Writers are expected, like all users, to adhere to our Community Standards.

writer

Galveston, TX

Angry Ben

Destructive Storms With a History of Widespread Damage Reaches Galveston and Other Gulf Coast Towns. Good morning everyone. Our severe weather late yesterday and last night throughout the Texas Panhandle and the Dallas/Ft Worth area, organized exactly as discussed in yesterday's articles.

Severe Weather Related "Tsunami" Possible Along Texas Gulf Coast

Reading, PA

Contributors represent independent, third-party users who have joined our contributor program and self-verified their accounts. They have also demonstrated their experience writing hard news for other outlets. Contributors are expected, like all users, to adhere to our Community Standards.

contributor

Mahanoy City, PA

The Shenandoah (PA) Sentinel

MAHANOY CITY – Two members of a motorcycle club were convicted on federal charges, accused...
The post Convicted motorcycle club members orchestrated ‘brutal’ home-invasion in Mahanoy, feds say first appeared on The Shenandoah Sentinel.

Convicted motorcycle club members orchestrated ‘brutal’ home-invasion in Mahanoy, feds say

Forbes Advisor

Rates on savings accounts are mixed compared to one week ago. You can now earn 5.84% or higher on your savings. Searching for an account where you can put some money aside? Here’s a look at some of the best savings rates you can find today. Traditional Savings Account...

High-Yield Savings Account Rates Today: June 28, 2024

Consumers have pulled back on many areas of discretionary spending, but steakhouse chains have managed to keep thriving. LongHorn and Texas Roadhouse reported comparable sales growth in their most recent quarters, while a number of other restaurants have reported lower sales. Other industries, like fast food and retail, have reported...

Why Business Is Booming for Steakhouses Like LongHorn and Texas Roadhouse

Prediction 1: Jensen Huang will still be CEO, assuming he stays healthy, a year from now. Prediction 2: Nvidia will still dominate the market for artificial intelligence (AI) chips a year from now. Prediction 3: Nvidia stock, which closed at $1,096.33 on Friday, could reach $1,700 a year from now,...

Where Will Nvidia Stock Be in 1 Year?

California State

Alameda Post

California regulators just stopped AT&T from pulling the plug. California’s Public Utilities Commission on June 20 rejected AT&T’s application to stop providing landlines and other services in areas where there is no other option.

Still Need Your Landline?

Mortgage rates ticked down for the fourth straight week, but remained in the high-6% territory as the housing market continues to stall amid high rates and high home prices.

Mortgage rates fall slightly to 6.86%

24/7 Wall St.

The current consensus analyst price target on Nvidia (NASDAQ: NVDA) sits at $127.24. Interestingly, this target has consistently moved higher, with a number of upgrades materializing over the past week, tied in part to last week’s announcement that Nvidia was splitting its stock 10:1.  However, as has been the case with Nvidia’s multiple declining relative to its […]
The post Price Prediction: Wall Street Analysts Have it Wrong, NVIDIA Will Be Over $150 Next Year appeared first on 24/7 Wall St..

Price Prediction: Wall Street Analysts Have it Wrong, NVIDIA Will Be Over $150 Next Year

Clark County, WA

Community Voices represent independent, third-party users who have joined our contributor program but not yet verified their accounts. Community Voices are expected, like all users, to adhere to our Community Standards.

community_voice

Timothy A Gruver

Dentist Ellis B. Jardine of Clark County has been suspended for allegedly practicing outside the scope of his licenses and subpar care, the Washington State Department of Health reported on Friday.

Dentist Suspended for Subpar Care & Unlicensed Practices

Don't be put off by this stock's dismal performance lately -- now could be the best time to buy it with interest rate cuts on the horizon.

1 Super Stock Down 93% to Buy Before the Fed Cuts Interest Rates

Denver, CO

David Heitz

The mother of a Denver homeless man told the City Council Monday that city-sponsored services have failed her son. Barbara Hallick Yeomans made her remarks during public comment period of the City Council meeting. She said her son grapples with substance abuse and mental illness and repeatedly has been harassed by police. She said her son also suffered verbal abuse by a guard in the Denver County Jail. Yeomans said she heard the guard harassing her son over the phone.

Mother says Denver homeless services have failed her son

Georgia State

Coffee County, GA

Douglas, GA

Daily Coffee Press

A 49-year-old woman from Douglas was recently arrested for allegedly submitting a life insurance policy for her ex-husband without his knowledge. According to a Coffee County Sheriff’s Office incident report, detectives met with a man on May 7 at the Coffee County Law Enforcement Center concerning a reported case of insurance fraud.

Georgia woman charged for allegedly filing life insurance policy application on ex-husband

Fortune

"The housing market is really the first domino to fall on what we think is going to be a slower growth story down the road."

Home prices could start dropping this summer, marking the ‘first domino to fall’ on the way to a weaker economy, strategist says

Newark, NJ

Morristown Minute

NEWARK, N.J. – Eight individuals associated with the "793 Bloods" street gang, a subset of the national Bloods gang, have been charged for their roles in a Newark-based drug trafficking organization, U.S. Attorney Philip R. Sellinger announced.

Eight '793 Bloods' Gang Members Charged in Newark Drug Network

NewsBreak

Mortgage Rates Edge Up, Approaching 7%

The average 30-year mortgage rate is now 6.97%, nearing the 7% threshold. Rates have been moving in the upper-6% territory this entire month, but have crept...

Mortgage Rates Edge Up, Approaching 7%

Comments / 0