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The Latest Breaking News from Freddie Mac

Although cooled inflation raised hopes of a soft landing, the Fed is expected to keep raising interest rates through 2023, putting pressure on the stock market. Given this backdrop, under-$50 ETFs First Trust Low Duration Opportunities (LMBS), SPDR Nuveen Bloomberg Short Term Municipal Bond (SHM), and First Trust Value Line…

StockNews.com

Mortgage rates fell for the fourth straight week

One economist is calling the top

Axios

Check out UFB Direct—an online bank offering savings products with APYs of at least 5%

Savers might find that UFB’s high rates complement their existing banking relationship.

Fortune

From analysis to the latest developments in health,
read the most diverse news in one place.

Single-Family Home Rentals And The Rise Of Large Landlords

Large corporate buyers and rental-backed bonds are driving change in the single-family home rental market. Who's affected?

Investors Business Daily

Surging Mortgage Rates Cripple Home Buyers

The mortgage rate increase is “leading to greater stagnation in the housing market,” said Freddie Mac’s chief economist.

The Street

US mortgage rates top 7% for the first time in 2 decades

Mortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate jumped to 7.08% from 6.94% last week.

Chicago Sun-Times

Starter Homes Are Only Affordable in Four Cities

Soaring mortgage rates are a big part of the problem, with the 30-year fixed rate mortgage at almost 7%.

The Street

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Average long-term US mortgage rates rise this week to 6.94%

Average long-term U.S. mortgage rates inched up this week ahead of another expected rate increase by the Federal Reserve when it meets early next month

The Independent UK

Home Buyers Face Hard Choices as Mortgage Rates Hit 20-Year Highs

The 30-year, fixed-rate mortgage averaged a 20-year peak of 6.92% in the week ended Oct. 13.

The Street

Mortgage rates reach highest level in 2 decades

Homebuyers face the highest mortgage rates in two decades, a new report shows, as elevated borrowing costs have slowed sales in Southern Nevada and around the country this year.

Tribune News Service

Adjustable-rate mortgages rise again as interest rates soar

Mortgage interest rates have climbed to their highest levels in two decades, which means higher payments for less home. So an older loan known as an adjustable rate mortgage, or ARM, is making a comeback.

Orlando Sentinel

Average long-term US mortgage rates dip to 6.66% this week

Average long-term U.S. mortgage rates ticked down modestly this week after six straight weeks of gains pushed rates to heights not seen in more than a decade, before a crash in the housing market triggered the Great Recession in 2008

The Independent UK

The big reason Florida insurance companies are failing isn't just hurricane risk – it’s fraud and lawsuits

Hurricane Ian’s widespread damage is another disaster for Florida’s already shaky insurance industry. Even though home insurance rates in Florida are nearly triple the national average, insurers have been losing money. Six have failed since January 2022. Now, insured losses from Ian are estimated to exceed US$40 billion

The Conversation

Mortgage Rates at 7% Make Buying a New Home a Risk

Housing prices are in decline, but there are still plenty of roadblocks in buying a new home.

The Street

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The Street

House Prices Fall as Rate Hikes Push Buyers to Sidelines

Soaring mortgage rates and elevated home prices have deterred buyers, forcing sellers to lower their expectations.

The Independent UK

US long-term mortgage rates up for 6th week; 30-year at 6.7%

Average long-term U.S. mortgage rates rose this week for the sixth straight week, marking new highs not seen in 15 years

The Street

Soaring Mortgage Rates Hammer Home Buyers

Prospective buyers have lost hundreds of thousands of dollars in spending power, thanks to rising rates.

Axios

Mortgage rates hit 6% for the first time since 2008

The average mortage rate was 2.86% a year ago, according to Freddie Mac.

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Benzinga

Housing Activity 'Took A Nosedive' As Mortgage Rates Hit 15-Year Highs - A Chart That Says It All

Mortgage rates are at their highest point since the Great Recession as housing affordability continues to decline, according to Freddie Mac (OTCMKTS: FMCC) data.

The Street

Housing Market Downturn Continues: Goldman Sachs

Elevated mortgage rates and home prices have hammered the market, pushing building, sales and prices down.

Tribune News Service

Alexis Leondis: Resist the siren song of 40-year mortgage loans

Because of rising interest rates and higher home values, the monthly mortgage payment on a typical U.S. home is 62% higher than a year ago. So, it's only natural to be looking for a way to cut costs. But if you're borrowing money to buy a home and think the…

Tribune News Service

If more than two big storms hit Florida this year, insurers could be in trouble

It's that time of year again in Florida. Peak hurricane season is bearing down on the state like that flying saucer in the movie Nope.

The Street

Real Estate Titan Zillow Sees Tough Times Ahead in Housing

The residential real estate market has stumbled, after soaring in the first 18 months of the covid pandemic.

Tribune News Service

Commentary: Who’s to blame for the priciest housing in history?

With so much attention fixed on soaring prices for gasoline and groceries, one can almost overlook the fact that we’re also enduring an affordable housing crisis. The question is, why?

The Independent UK

Long-term mortgage rates under 5% for 1st time in 4 months

The average long-term U.S. mortgage rate fell below 5% for the first time in four months this week, just after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control

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