Mortgage rates fall for second straight week – CNN | CarTailz

Mortgage rates fell again this week after falling almost half a percentage point last week. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.58% in the week ended November 23, compared to 6.61% the week before. A year ago, the 30-year fixed rate was 3.10%. Mortgage rates have risen for most of 2022, spurred … Read more

Mortgage Rates Plunge, Biggest Weekly Drop Since 1981 – CNN | CarTailz

Editor’s note: Freddie Mac, which has tracked weekly average mortgage rates since 1971 and has regularly made changes to its primary mortgage market survey, has changed the source of its November 17, 2022 data. Instead of surveying lenders, the weekly results are based on applications received from lenders submitted to Freddie Mac. Find out more … Read more

It’s a terrible time to buy a home. Here’s what you should know if you need to do it anyway – CNN | CarTailz

There’s no glossing over it: This is a terrible time to be buying a home. Mortgage rates on a 30-year fixed rate loan are now over 7%, more than 4 percentage points higher than a year ago. According to Black Knight, a mortgage data company, this has reduced the purchasing power of a typical buyer … Read more

Wall Street is putting hope ahead of reality…again – CNN | CarTailz

A version of this story first appeared in CNN Business’s Before the Bell newsletter. Not a subscriber? You can login exactly here. You can listen to an audio version of the newsletter by clicking the same link. new York CNN business — Shares rose on Thursday for their best day since 2020 after a key … Read more

House prices are finally falling. But how deep will they go? -CNN | CarTailz

The US housing market is in the midst of a major upheaval. After two years of stratospheric price increases, home prices have peaked and are on the way back down. But what homebuyers and homeowners alike want to know is: how much lower will prices go? The short answer: Prices will likely continue to fall, … Read more

Mortgage rates take a breather after rising for several weeks – CNN | CarTailz

After rising for six straight weeks, mortgage rates fell last week. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.66% for the week ended October 5, up from 6.70% the week before. Mortgage rates have more than doubled since the beginning of this year as the Federal Reserve continues its unprecedented campaign of raising … Read more

Take no prisoners: No one is spared in the Fed’s inflation war – CNN | CarTailz

new York CNN business — Call it the Take No Prisoners economy. Recession concerns are growing worldwide. Mortgage rates are rising and housing construction is stagnating. The Dow is at a two-year low and close to a bear market. Global central banks are raising interest rates with no end in sight until high inflation is … Read more

Mei and Harold are 27 and make $235,000 a year. They’re now paying $5,000 a month on their adjustable-rate mortgage — and they’re worried — Toronto Star | CarTailz

For Mei and Harold, both 27, the prospect of further rate hikes could spell trouble for their adjustable-rate mortgage. The couple have a 30-year mortgage on a home they bought in Etobicoke earlier this year. “These recent rate hikes have really impacted our ability to spend and save,” Mei said. “With speculation that further increases … Read more