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The Latest Breaking News from Freddie Mac

A 1981-level mortgage rate shock has the housing market in a correction—these 7 leading research firms predict what's next for rates

There are only three levers that can depressurize affordability: Rising incomes, falling home prices, and falling mortgage rates.

Fortune

Average long-term US mortgage rates inch up to 6.48%

The average long-term U.S. mortgage rate rose for the second straight week following six weeks of declines that had given prospective homebuyers a glimmer of hope

The Independent UK

Something big is happening in the U.S. housing market—here's where 27 leading research firms think it'll take home prices in 2023

Among the nation's 27 leading housing researchers, 23 expect U.S. home prices to fall further in 2023.

Fortune

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3 ETFs to Buy Now for Less Than $50

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

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

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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

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

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 Independent UK

Mortgage rates hit 6% for the first time since 2008

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

Axios

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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.

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.

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?

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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

The Philadelphia Inquirer

More home buyers are considering adjustable-rate mortgages as interest rates rise

Home buyers have had to accept that mortgage rates probably won’t drop back down to record lows anytime soon.

Tribune News Service

‘Let's try something new’ meets the national housing squeeze

BOISE, Idaho — Riley Romazko and her fiancé Julien Rivera were among the first to buy a shipping container home at Caritas Commons, a cluster of single-family houses built for limited-income residents on a quiet street in an older Boise neighborhood.

The Independent UK

Rents spike as big-pocketed investors buy mobile home parks

Investors are buying up mobile home parks across the country, leading to significant rent increases and complaints of neglect from residents

Benzinga

Housing Beat: Mortgage Rates Soar Again, Non-QM Rides On, The Best And Worst Rental Markets

The renewed rise in mortgage rates, a major mortgage-backed securities deal featuring non-qualified mortgages and a cooling in rental housing prices dominated this week's housing and mortgage market news.

Benzinga

Housing Beat: Mortgage Rates Fall Again, Home Price Growth Cools, Roe V. Wade Influences Homebuyers

This week in the housing world, mortgage rates declined for the second consecutive week as home price growth slowed, the level of mortgage delinquencies remained low and the Roe v. Wade controversy permeated the homebuying process.

Benzinga

Housing Beat: Mortgage Rates Creep Down, Inventory Expands And Who Wants A Vacation Home Anymore?

The U.S. housing market closed June with a decline in mortgage rates, a bump-up in pending home sales, a growing number of available properties for sale and an evaporating enthusiasm for vacation homes.

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