Columbus, OH

Business Insider

These are today's mortgage and refinance rates. Mortgage rates are way down this week in response to concerns of a potential economic downturn.

Mortgage Interest Rates Today, August 6, 2024 | Rates Plunge. Is It Finally a Good Time to Buy a House?

Lenders have been lowering their rates ahead of a hoped-for interest rate cut in August.

Mortgage rate hopes as one lender offers below 4%

CBS News

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  The past couple of years have been tough for homebuyers. Just a few years ago, it was easy to find a mortgage loan with a 3% (or lower) rate, but as buyers rushed to take advantage of the cheap borrowing environment, it fueled an uptick in demand and drove up home prices. As the mortgage rate environment shifted post-pandemic, mortgage rates climbed, significantly reducing affordability and pushing many prospective buyers to the sidelines.It appears there's finally a glimmer of...

Mortgage rates are still falling. Here are 5 big moves to make now

The Motley Fool

For young home buyers, 4% mortgage rates may feel "normal," but they're not. Keep reading to learn whether you can count on them to be that low again.

Will Mortgage Rates Ever Be as Low as 4.00% Again?

Florida State

Orlando, FL

Markets Insider

Homebuyer cancellations are cropping up in Florida after a meteoric rise in home prices.

Florida's housing market is seeing 'nightmare scenarios' as buyers back out due to affordability concerns, Redfin says

Money Week

The building society’s cheapest deal is now priced at 3.99%. Whether you’re buying or remortgaging, we look at whether rates could drop further in the coming months

Nationwide cuts mortgage rates as they dip below 4% for first time since February

Is it darkest before the dawn? If we look at the housing market right now, sales are down, new listings are down and prices are decelerating. But if we look at the data right now, things look the most bullish they’ve been all year. Good inflation data came in...

What happens to the housing market when mortgage rates finally come down?

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?

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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

The 30-year average mortgage rate fell again Monday, to 6.28%. A seven-day decline has pushed the average down to its lowest level since spring 2023. Averages for most other mortgage rates also dipped lower Monday. National Averages of Lenders' Best Mortgage Rates. Loan Type New Purchase. 30-Year Fixed 6.28%. FHA...

Mortgage Rates Plummet to Lowest Level in 16 Months

TheStreet

The housing market needs help. It got some last week and more is on the way.

Mortgage rates get huge boost from Fed signals, bond market rally

The states with the cheapest 30-year new purchase rates Wednesday were New York, California, Florida, Texas, and North Carolina. Meanwhile, the most expensive rates were found in West Virginia, Alaska, Washington, D.C., and Massachusetts. Mortgage rates vary by the state where they originate. Different lenders operate in different regions, and...

Today's Mortgage Rates by State – July 25, 2024

Fox Business

Rising home supply and anticipated lower mortgage rates to come will "open the floodgates" for a real estate market "boom," says RE/MAX's chairman and co-founder.

Real estate tycoon explains when house prices will start to drop and 'open the floodgates'

When stocks started to dive, bond yields and mortgage rates fell, too, good news for homebuyers.

Market turmoil gives homebuyers huge mortgage break

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low 6% range on government loans and in the mid-6% range for conventional mortgages. Quotes vary based on credit scores, points and other factors.

Mortgage rates take a dive

Louisiana State

Axios

The summer's COVID-19 wave is continuing, and Louisiana is one of the states with "very high" levels of virus activity, per Centers for Disease Control and Prevention data. Why it matters: Your cold may actually be COVID. The big picture: The virus is especially prevalent right now across the western...

Louisiana is a COVID hotspot right now

Prospective borrowers with strong credit are locking in mortgages this week at the lowest rates in more than a year, loan officers and lending executives told HousingWire on Friday. A sample of more than a dozen industry professionals said they were quoting most borrowers in the high 5% to low...

Mortgage rates plummet, changing everything — for now

Axios Detroit

Data: Redfin; Chart: Axios VisualsNearly a quarter of houses for sale in Metro Detroit 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.Zoom in: The share of homes in Metro Detroit with sellers cutting their prices has ranged from 20% in December to 24% in May, the most recent month available from Redfin.Before that, the last couple of years, that share has...

Metro Detroit home sellers dropping prices

Chicago, IL

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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?

Homebuyers shouldn’t expect market conditions to improve too much in the second half of 2024, with mortgage rates likely to remain elevated and supplies tight. Economists expect home prices will rise by about 4%, and mortgage rates to remain at about 6.5%, in the second half. Despite strong demand...

What to Expect in the Housing Market in the Second Half of the Year

NewsBreak

Mortgage rates are down. The housing market is still moribund.

The rate on the 30-year-fixed mortgage is at 6.55%, the lowest since May 2023, per data out Wednesday morning from the Mortgage Bankers Association. Why it...

Mortgage rates are down. The housing market is still moribund.

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