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Yahoo
06-08-2025
- Business
- Yahoo
Mortgage rates decline to lowest level in nine months
Mortgage rates retreated this week, with the 30-year fixed rate averaging 6.63 percent, compared to 6.75 percent the previous week, according to Bankrate's latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.63% 6.72% 6.86% 6.79% 6.20% 15-year 5.79% 5.85% 6.21% 6.01% 5.40% 30-year jumbo 6.66% 6.75% 6.98% 6.83% 6.36% The 30-year fixed mortgages in this week's survey had an average total of 0.33 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan. Learn more: Will mortgage rates go down this upcoming week? Shop smarter for mortgage rates Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today. Explore mortgage rates Monthly mortgage payment at today's rates The national median family income for 2025 is $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in June 2025 was $435,300, according to the National Association of Realtors. Based on a 20 percent down payment and a 6.63 percent mortgage rate, the monthly payment of $2,236 amounts to 26 percent of the typical family's monthly income. 'Affordability is still a challenge,' says Lisa Sturtevant, chief economist at Bright MLS, a listing service in the Mid-Atlantic region. 'Some buyers are waiting both for rates and prices to come down before they get into the market.' What will happen to mortgage rates in 2025? Mortgage rates haven't been this low since mid-October 2024. However, some perspective is in order: For the past nine months, rates have moved in a narrow range. These declines aren't like the sharp drops seen early in the pandemic, or the big jumps that came in 2022 and 2023, as the Federal Reserve aggressively boosted interest rates. Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes At last week's meeting, the Fed decided to leave the federal funds rate untouched. Mortgage rates didn't respond to the Fed's three consecutive cuts last year — a reminder that fixed mortgage rates are not set directly by the Fed but by investor appetite, particularly for 10-year Treasury bonds. When there's uncertainty in the market, investors buy Treasury bonds, which in turn drives yields — and, often, mortgage rates — downward. The U.S. economy seems to be back on track: The gross domestic product grew by an impressive 3 percent in the second quarter, the U.S. Bureau of Economic Analysis said Wednesday. Meanwhile, President Donald Trump's tariff policies have been blamed for an increase in inflation, which moved up to 2.7 percent in June from 2.4 percent in May. The Fed's inflation target is 2 percent. In addition, as of Wednesday afternoon, 10-year Treasury yields had fallen below 4.3 percent. Learn more: How are mortgage rates set? Methodology The national survey of large lenders is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison. Our rates differ from other national surveys, in particular Freddie Mac's weekly published rates. Each week Freddie Mac surveys lenders on the rates and points based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. 'Lenders surveyed each week are a mix of lender types — thrifts, credit unions, commercial banks and mortgage lending companies — is roughly proportional to the level of mortgage business that each type commands nationwide,' according to Freddie Mac. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
01-08-2025
- Business
- Yahoo
Mortgage rates decline to lowest level in four weeks
Mortgage rates retreated this week, with the 30-year fixed rate averaging 6.75 percent, compared to 6.76 percent the previous week, according to Bankrate's latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.75% 6.72% 6.86% 6.79% 6.20% 15-year 5.93% 5.85% 6.21% 6.01% 5.40% 30-year jumbo 6.75% 6.75% 6.98% 6.83% 6.36% The 30-year fixed mortgages in this week's survey had an average total of 0.32 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan. Learn more: Will mortgage rates go down this upcoming week? Shop smarter for mortgage rates Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today. Explore mortgage rates Monthly mortgage payment at today's rates The national median family income for 2025 is $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in June 2025 was $435,300, according to the National Association of Realtors. Based on a 20 percent down payment and a 6.75 percent mortgage rate, the monthly payment of $2,259 amounts to 26 percent of the typical family's monthly income. 'Affordability is still a challenge,' says Lisa Sturtevant, chief economist at Bright MLS, a listing service in the Mid-Atlantic region. 'Some buyers are waiting both for rates and prices to come down before they get into the market.' What will happen to mortgage rates in 2025? In today's meeting, the Federal Reserve decided to leave the federal funds rate untouched. Mortgage rates didn't respond to the Fed's three consecutive cuts last year — a reminder that fixed mortgage rates are not set directly by the Fed but by investor appetite, particularly for 10-year Treasury bonds. When there's uncertainty in the market, investors buy Treasury bonds, which in turn drives yields — and, often, mortgage rates — downward. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership The U.S. economy seems to be back on track: The gross domestic product grew by an impressive 3 percent in the second quarter, the U.S. Bureau of Economic Analysis said Wednesday. Meanwhile, President Donald Trump's tariff policies have been blamed for an increase in inflation, which moved up to 2.7 percent in June from 2.4 percent in May. The Fed's inflation target is 2 percent. In addition, as of Wednesday afternoon, 10-year Treasury yields were just below 4.4 percent. Learn more: How are mortgage rates set? Methodology The national survey of large lenders is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison. Our rates differ from other national surveys, in particular Freddie Mac's weekly published rates. Each week Freddie Mac surveys lenders on the rates and points based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. 'Lenders surveyed each week are a mix of lender types — thrifts, credit unions, commercial banks and mortgage lending companies — is roughly proportional to the level of mortgage business that each type commands nationwide,' according to Freddie Mac. Fehler beim Abrufen der Daten Melden Sie sich an, um Ihr Portfolio aufzurufen. Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten Fehler beim Abrufen der Daten
Yahoo
18-07-2025
- Business
- Yahoo
Mortgage rates rise to highest level in four weeks
Mortgage rates moved up this week, with the 30-year fixed rate averaging 6.81 percent, compared to 6.78 percent the previous week, according to Bankrate's latest lender survey. Current mortgage rates Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.81% 6.86% 6.92% 6.80% 6.20% 15-year 5.98% 6.04% 6.24% 6.02% 5.40% 30-year jumbo 6.77% 6.86% 7.01% 6.83% 6.36% The 30-year fixed mortgages in this week's survey had an average total of 0.30 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan. Learn more: Will mortgage rates go down this upcoming week? Shop smarter for mortgage rates Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today. Explore mortgage rates Monthly mortgage payment at today's rates The national median family income for 2025 is $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in May 2025 was $422,800, according to the National Association of Realtors. Based on a 20 percent down payment and a 6.81 percent mortgage rate, the monthly payment of $2,207 amounts to 25 percent of the typical family's monthly income. 'Affordability is still a challenge,' says Lisa Sturtevant, chief economist at Bright MLS, a listing service in the Mid-Atlantic region. 'Some buyers are waiting both for rates and prices to come down before they get into the market.' What will happen to mortgage rates in 2025? Last month, the Federal Reserve decided to leave the federal funds rate untouched. Mortgage rates didn't respond to the Fed's three consecutive cuts last year — a reminder that fixed mortgage rates are not set directly by the Fed but by investor appetite, particularly for 10-year Treasury bonds. When there's uncertainty in the market, investors buy Treasury bonds, which in turn drives yields — and, often, mortgage rates — downward. Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes President Donald Trump's tariff policies were blamed for an increase in inflation, which moved up to 2.7 percent in June from 2.4 percent in May. The Fed's inflation target is 2 percent. In addition, as of Wednesday afternoon, 10-year Treasury yields were rising toward 4.5 percent. 'Treasury yields finished higher last week on average despite an intra-week drop, driven partly by renewed concerns of the impact of tariffs on the economy,' says Joel Kan, deputy chief economist at the Mortgage Bankers Association. Learn more: How are mortgage rates set? Methodology The national survey of large lenders is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison. Our rates differ from other national surveys, in particular Freddie Mac's weekly published rates. Each week Freddie Mac surveys lenders on the rates and points based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. 'Lenders surveyed each week are a mix of lender types — thrifts, credit unions, commercial banks and mortgage lending companies — is roughly proportional to the level of mortgage business that each type commands nationwide,' according to Freddie Mac. Sign in to access your portfolio
Yahoo
11-07-2025
- Business
- Yahoo
Mortgage rates rise amid market uncertainty
Mortgage rates moved up this week, with the 30-year fixed rate averaging 6.78 percent, compared to 6.72 percent the previous week, according to Bankrate's latest lender survey. Loan type Current 4 weeks ago One year ago 52-week average 52-week low 30-year 6.78% 6.90% 7.04% 6.80% 6.20% 15-year 5.95% 6.09% 6.38% 6.03% 5.40% 30-year jumbo 6.78% 6.88% 7.06% 6.84% 6.36% The 30-year fixed mortgages in this week's survey had an average total of 0.32 discount and origination points. Discount points are a way to lower your mortgage rate, while origination points are fees lenders charge to create, review and process your loan. Learn more: Will mortgage rates go down this upcoming week? Bankrate connects you to the latest lender offers, tailored to you. Find your low rate today. Explore mortgage rates The national median family income for 2025 is $104,200, according to the U.S. Department of Housing and Urban Development, and the median price of an existing home sold in May 2025 was $422,800, according to the National Association of Realtors. Based on a 20 percent down payment and a 6.78 percent mortgage rate, the monthly payment of $2,201 amounts to 25 percent of the typical family's monthly income. 'Affordability is still a challenge,' says Lisa Sturtevant, chief economist at Bright MLS, a listing service in the Mid-Atlantic region. 'Some buyers are waiting both for rates and prices to come down before they get into the market.' Last month, the Federal Reserve decided to leave the federal funds rate untouched. Mortgage rates didn't respond to the Fed's three consecutive cuts last year — a reminder that fixed mortgage rates are not set directly by the Fed but by investor appetite, particularly for 10-year Treasury bonds. When there's uncertainty in the market, investors buy Treasury bonds, which in turn drives yields — and, often, mortgage rates — downward. President Donald Trump's tariff policies spurred a spasm of market swings that included 10-year Treasury yields briefly dropping below 4 percent. As of Wednesday afternoon, they stood at 4.3 percent. 'A Fed on hold aligns with our forecast for little change in mortgage rates for the time being,' says Mike Fratantoni, chief economist at the Mortgage Bankers Association. Another factor is inflation, which remains persistently higher than the Fed's target of 2 percent. The Labor Department reported that inflation had edged up to 2.4 percent in May, an uptick from April, but still tame enough to relieve some of the pressure on mortgage rates. Even with the volatility in markets, housing economists say mortgage rates are likely to move gradually rather than dramatically. 'With inflation easing and uncertainty around tariffs and Fed policy continuing to weigh on markets, investors have shifted toward safer assets like Treasurys,' says Samir Dedhia, CEO of One Real Mortgage. 'As yields drop, mortgage-backed securities have found firmer footing, allowing mortgage rates to come down across the board.' Learn more: How are mortgage rates set? Methodology The national survey of large lenders is conducted weekly. To conduct the National Average survey, Bankrate obtains rate information from the 10 largest banks and thrifts in 10 large U.S. markets. In the national survey, our Market Analysis team gathers rates and/or yields on banking deposits, loans and mortgages. We've conducted this survey in the same manner for more than 30 years, and because it's consistently done the way it is, it gives an accurate national apples-to-apples comparison. Our rates differ from other national surveys, in particular Freddie Mac's weekly published rates. Each week Freddie Mac surveys lenders on the rates and points based on first-lien prime conventional conforming home purchase mortgages with a loan-to-value of 80 percent. 'Lenders surveyed each week are a mix of lender types — thrifts, credit unions, commercial banks and mortgage lending companies — is roughly proportional to the level of mortgage business that each type commands nationwide,' according to Freddie Mac. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
29-06-2025
- Business
- Yahoo
DOGE layoffs are starting to leave their mark on D.C.'s housing market
The DOGE effect is finally here. After months of speculation, there are growing signs that the housing market in the Washington, D.C., metro area is starting to shift, and federal workforce layoffs are to blame, according to new data from Bright MLS, the multiple listing service that serves the mid-Atlantic region. For-sale inventory in the region is spiking, driven in part by early retirements and general economic uncertainty. While prices are holding steady for now, some real estate agents are reporting buyer hesitancy that could translate to lower prices down the line. Nearly 40% of D.C.-area agents surveyed by Bright MLS said they worked with clients who were buying or selling due to federal layoffs or buyout offers last month. Over half said the job cuts were affecting the market, and 43% reported seeing more sellers. 'The key word is uncertainty — total uncertainty,' said Diane Yochelson, a Realtor at Compass in Bethesda, Md., just northwest of the city. 'One day you go to work, and the next day you're done — you can't even go back to your office.' Yochelson has had several clients in government contracting who were affected by the cuts. One, who was laid off in February, was hoping to buy a home in the region before her son started kindergarten. Now, several months later and still unemployed, she's thinking about living elsewhere. 'People are now considering leaving the D.C. area,' Yochelson said. 'Even if it's a two-income family and only one person has lost their income, because of the financial straits they're in, they may look to go someplace else where it's more affordable.' Read more: 2025 housing market: Is it a good time to buy a house? As of May, there were more than 13,500 homes for sale in the D.C. metro area, according to nearly double the inventory available a year earlier. Listings have increased nationwide, but there's evidence that at least some of the jump in the D.C. area is tied to the Department of Government Efficiency's efforts to shrink the federal workforce through layoffs and buyouts, said Lisa Sturtevant, Bright MLS's chief economist. Agents and brokers reported that some 15% of spring sellers in D.C. were selling due to retirement, compared with less than 10% in the broader mid-Atlantic region. Earlier this year, the Trump administration offered a buyout to federal workers, offering up to eight months of salary and benefits. Around 75,000 took the offer. Though federal workers are based all over the country, about 15% live in the D.C. area. Read more: 3 tips for selling your home in today's housing market While inventory is climbing, prices haven't shown any signs of easing yet. The median home in the area sold for just under $660,000 in May, up 3.1% from a year ago, according to Bright MLS data. But Sturtevant thinks prices can't continue to grow as aggressively in the months ahead. 'We're at a point now where there's enough inventory that's come on the market that we are starting to see a change in prices,' she said. 'We'll continue to see prices grow more slowly and possibly actually decline year over year in some local markets.' Cliff Cohen, an estate planning lawyer, knew he was taking a gamble when he decided to put his condo in Friendship Heights, Md., on the market in April with the goal of relocating to Florida. After a number of showings, but no offers, he pulled it this month and plans to re-list in the fall in hopes of finding a stronger market. 'We see the buying pool not only diminished, but also those people that would like to buy are afraid to pull the trigger,' Cohen said. 'There's so much uncertainty now." Claire Boston is a Senior Reporter for Yahoo Finance covering housing, mortgages, and home insurance. Sign up for the Mind Your Money newsletter
