This Week in Mortgage Rates: Buyers Are Back as Rates Hover in the Low 6s
It’s been a busy week in the mortgage world. Rates moved up, down, and back again—but never broke out of a fairly tight range. Underneath those rate moves, we saw something important: buyers and homeowners are quietly stepping back into the market.
Here’s a...
Stronger Data Last Week Caused a Slight Rate Bump
As we head into the first week of December, mortgage rates are starting out just a bit higher than they were before the Thanksgiving holiday. The move was small, but it was driven by something important: stronger-than-expected economic data last week.
If you pressed pause on your home...
What Today’s Jobs Report Means for Mortgage Rates
Today’s mortgage rate movement came down to one thing: the long-awaited jobs report. And while the numbers were mixed, the overall effect was simple — mortgage rates held steady instead of rising.
Here’s what happened and what it means if you’re thinking...
50-Year Mortgages? Here’s What You Need to Know
A New Idea: 50-Year Mortgages
According to a recent Forbes report, the Trump administration says it’s exploring the possibility of 50-year mortgages as part of a plan to make monthly housing payments more affordable.
It’s an eye-catching headline — a mortgage...
Fannie Mae’s Big Update: You May Qualify Even With a Credit Score Below 620
What’s Changing
Fannie Mae — one of the two major agencies that back conventional mortgages — just made a major update to its Desktop Underwriter (DU) system, the automated tool lenders use to approve home loans.
Until now, most conventional loans required a...