August 31, 2023 / 12:30 PM EDT / CBS News Don't wait to lock in a mortgage rate. You should make that move now. Getty Images It's no secret that mortgage rates are currently a lot higher than they were this time last year. A series of Federal Reserve rate hikes meant to ...
The problem is, if they moved now, they'd have to sign on for a mortgage of around 6.5%. That 3% increase in their mortgage rate would eat into the amount they could put toward a new home. The potential financial burden could effectively lock them into their current home. Th...
The average contract rate on a 30-year fixed-rate mortgage dropped 14 basis points in the week ended Sept. 13, to 6.15%, the Mortgage Bankers Association said on Wednesday. That was the lowest rate since Sept 2022, and followed a 14-basis-point drop the previous week. Application...
A decline in mortgage rates is good news for buyers, but there are ways to get an even better deal on your loan.
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That rate was 108 basis points higher the same week one year ago. "The increase in refinance applications was driven by FHA and VA refinances, while conventional activity fell slightly," said Joel Kan, an MBA economist. watch now VIDEO04:05 How Josh Brown invests in real estate Mortgage ...
I have been seeing all the news reports about lower mortgage rates and refinancing. We currently have a 4.50 percent rate on a 7/1 ARM that's due to adjust in 2012. It seems to me that the government's bailout plan includes lower rates in the coming months, so I don't understand ...
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The average 30-year, fixed-rate mortgage fell to 6.47%, while the 15-year mortgage rate came in at 5.63%, both at their lowest points in more than a year. Both mortgage rates showed steep one-week declines following a worrisome employment report and market turbulence. The Freddie Mac data...
Editor's Note: Investopedia will not publish daily mortgage rate news on Monday, Sept. 2, in observance of Labor Day. We will return to our daily rate coverage Tuesday, Sept. 3. Rates on 30-year mortgage refinance loans inched 4 basis points higher on Thursday to an average of 6.47%. ...