Mortgage rates won’t drop signifcantly in the next few months, but you don’t have to put off your homebuying plans. The mortgage rates you see advertised online are simply averages based on what borrowers are being offered at a given time. Depending on your financial profileyou could qualify for a significantly lower rate. By taking … Read more
President Donald Trump’s announcement last week of an aggressive wave of reciprocal tariffs on multiple countries and a 10% universal import tax triggered massive stock market chaos. The move also escalated fears of inflated consumer prices, a global trade war and a recession. It’s unclear how these duties will upend supply chains and affect interest … Read more
Economic uncertainty seems to be the only certainty these days. A barrage of tariffs threatens higher prices and a trade war, while a plunging stock market and federal job slashing seem to be clear recession indicators. With mortgage rates inching lower, it’s common for homebuyers to ask if housing will become more affordable in a … Read more
Mortgage rates have fluctuated in a narrow range over the last several weeks, with the average 30-year fixed rate beginning and ending March at 6.75%, according to Bankrate data. “The keyword right now is uncertainty… Mortgage rates are in a holding pattern of sorts.” Colin Robertson, founder of mortgage news site The Truth About Mortgage … Read more
This week, mortgage rates are mainly driven by the financial market’s wariness over President Trump’s economic policies. The Federal Reserve’s decision-making body voted on March 19 not to reduce or raise its benchmark interest rate in order to evaluate the impact of the administration’s trade and austerity measures. “Tariffs and geopolitical uncertainty are adding another … Read more
The Federal Reserve held interest rates steady at its monetary policy meeting this week — though sticky inflation, increased unemployment and slowing economic growth could force the central bank to cut rates in late spring or early summer. As recession fears mount and uncertain trade policies pressure financial markets, the key question for investors was … Read more
There’s a lot of uncertainty in today’s economybut one thing is certain: The Federal Reserve isn’t planning to lower interest rates before the spring homebuying season. If you’re in the market for a new home, average mortgage rates are projected to stay above 6% for a while. “While the Fed certainly can influence mortgage rates, … Read more
After a seven-week falling streak, mortgage rates reversed course, with the average rate on a 30-year fixed home loan now around 6.7%. This week, investors are holding out for the Federal Reserve’s interest rate forecastwhile concerns over a potential recession and uncertain trade policies keep pressure on financial markets. Mortgage rates, linked to the bond … Read more
In the middle of the holiday season last year, my wife and I received a notice that gave us some sticker shock. The payment on our 30-year fixed-rate mortgage was increasing by $106 a month, jumping to more than $2,789. As homeowners, we’re used to budgeting a set amount toward paying off our home loan … Read more
Mortgage rates are on a bit of a downward trend, with the average rate on a 30-year fixed mortgage dropping from the 6.9% range in early February to around 6.7% this week. But a shaky economy will likely keep the housing market frozen for a while. US stocks tumbled after President Donald Trump refused to … Read more
