Mortgage rates moved lower for the second consecutive week, sending purchase applications higher in further signs of pent-up demand amid an ongoing affordability crisis in the housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to…

Housing prices have remained high for the last few years, largely due to fluctuating mortgage rates and lasting economic effects from the pandemic. In response, conforming loan limits (CLL), which determine how big of a loan borrowers are allowed to take out, are set to rise in 2025, the Federal…

The Federal Housing Finance Agency (FHFA) announced on Tuesday it is raising the loan amount limits for mortgages purchased by Freddie Mac and Fannie Mae by 5.2% in 2025, as home prices continue to soar in the U.S. The new conforming loan limit value for a one-unit home will be…

Long-term mortgage rates fell over the past week, reigniting demand for home purchases and breathing new life into what has been a stagnant housing market. The Mortgage Bankers Association (MBA) reported Wednesday that mortgage applications jumped 6.3% overall from the week before, driven by an increase in purchase demand, which…

Mortgage rates climbed closer to 7% this week while sales of existing homes saw a revival from a dip in rates two months ago. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage rose to 6.84% from last week’s reading…

Mortgage rates barely moved this week after marching higher for the past month and a half, while purchase demand remains stalled in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.78% from…

The Federal Reserve just cut interest rates for the second time this year, a move that was largely expected as inflation continues to drop. The Fed lowered rates by a quarter of a percentage point to 4.5% to 4.75%. The decision came on the heels of the lowest rise in…

Mortgage rates marched higher for the sixth straight week while purchase demand continues to decline in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.79% from last week’s reading of 6.72%. The average…

Mortgage rates continued their upward climb this week, leaving demand essentially flat in the stagnant housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.72% from last week’s reading of 6.54%. The average rate on a…

Mortgage rates continued their upward trajectory this week, climbing for a month straight while further pushing down demand in the stalled housing market. Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage surged to 6.54% from last week’s reading of…