How the Federal Reserve Impacts Mortgage Rates

Wong Yu Liang/Getty Images The Federal Reserve’s interest rate bumps over the last two years helped push average mortgage rates into unaffordable territory, leaving prospective buyers on the sidelines and keeping the housing market immobilized. Since last summer, the Federal Open Market Committee has kept the federal funds rate steady at between 5.25% and 5.50%. … Read more

Mortgage Predictions: What Today’s Inflation Report Means for Mortgage Rates

The Consumer Price Index for February, which measures changes in the cost of food, housing, gasoline, utilities and other goods, rose by 3.2% over the past 12 months. Markets and experts had expected the figure to be around 3.1%.  So what does inflation have to do with mortgage rates?  Historically speaking, when inflation rises and … Read more

Compare Current Mortgage Rates in February 2024

Many homebuyers expected mortgage rates would fall in 2024, but there have already been a few bumps in the road.  The most recent Consumer Price Index shows inflation at 3.1% year-over-year in January, which was higher than expected. That doesn’t bode well for the Federal Reserve, which is looking for inflation to move closer to … Read more

Mortgage rates shoot to 2-month high after hot inflation report

A “For Sale” sign outside a house in Albany, California, on May 31, 2022. David Paul Morris | Bloomberg | Getty Images Mortgage rates shot higher Friday after a monthly government report on wholesale prices showed inflation is still persistent and hotter than most analysts had expected. The average rate on the 30-year fixed mortgage … Read more

Former top prosecutor for Baltimore convicted of mortgage fraud

GREENBELT, Md. (AP) — A former top prosecutor for the city of Baltimore was convicted Tuesday on one count of mortgage fraud, concluding a lengthy criminal trial in which Marilyn Mosby testified she unwittingly made false statements on loan applications to buy two Florida vacation homes. The jury announced a split verdict Tuesday evening after … Read more

Mortgage rates back over 7%, as stronger economic data rolls in

This photo taken on Aug. 22, 2023 shows an advertisement in front of a real estate for sales in Millbrae, California, the United States. The sales of previously owned homes in the United States dropped 2.2 percent in July from June to a seasonally adjusted, annualized rate of 4.07 million units, the National Association of … Read more

This Oklahoma man owes $51K on his RAM truck with a payment of $1.1K/month — plus has mortgage and motorcycle debt. Caleb Hammer responds

‘It’s a fourth of your freaking take-home pay’: This Oklahoma man owes $51K on his RAM truck with a payment of $1.1K/month — plus has mortgage and motorcycle debt. Caleb Hammer responds A single purchase can completely change your financial situation. That’s what Taylor from Oklahoma City found out when he purchased his truck. His … Read more

UK mortgage rates are finally falling as homeowners hope for relief

U.K. mortgage rates are falling as markets anticipate the Bank of England will start cutting interest rates toward the middle of the year — but uncertainty is likely to continue to dent buyer confidence. HSBC announced cuts beginning Thursday on its residential mortgage interest rates, with several falling below 5% for the first time since April … Read more

Mortgage Interest Rates Today for Jan. 1, 2024: Rates Cool Off for Homeseekers

Mortgage Interest Rates Today for Jan. 1, 2024: Rates Cool Off for Homeseekers – CNET Want CNET to notify you of price drops and the latest stories? A couple of key mortgage rates are falling. It’s still expensive to buy a house, but there’s more good news in the housing market. Katherine Watt Contributor Katherine … Read more