Tag Archives: mortgage

[unable to retrieve full-text content]Mortgage rates surpass 7% while home prices show no signs of declining  Yahoo Finance Source link

[unable to retrieve full-text content]New target in Biden administration’s war on junk fees: mortgage closing costs  Yahoo Finance Source link

High interest rates are making tax returns more complicated for many new homeowners — but in a good way. The mortgage interest deduction — a lucrative homeowners’ tax benefit taken on itemized returns — was limited by the Tax Cuts and Jobs Act (TCJA) in 2017, severely curtailing the number of households that can write off the interest they pay on their home loan. But today’s high interest rates are tipping the calculation back in favor of claiming this largely forgotten benefit,… Source link

[unable to retrieve full-text content]Home sellers have little reason to list as mortgage rates head higher  Yahoo Finance Source link

Mortgage rates fell for the third consecutive week, helping to revive some buyer interest. The rate on the average 30-year fixed mortgage declined to 6.15% from 6.33% a week prior, according to Freddie Mac. Rates have fallen more than three-quarters of a point since mid-November, as signs that inflation is finally cooling strengthen the chances that the Federal Reserve will slow down its aggressive rate hikes this year. The dip in rates is a boon to homebuyers, especially first-timers, who are… Source link

Homebuyers may finally catch a break this year, says one expert, as signs of fading inflation could drive mortgage rates lower as soon as this month. “Mortgage rates have declined by almost a full percentage point since they peaked in November,” Melissa Cohn, vice president for William Raveis, a real estate brokerage firm, told Yahoo Finance Live (video above). “I think that we can expect mortgage rates to go down another quarter or even as much as a half a percent over the course of… Source link

Mortgage rates plunged by nearly a half-percent this week, marking the largest week-over-week decline since November 1981. The rate on the average 30-year fixed mortgage fell to 6.61% from 7.08% the week prior, according to Freddie Mac, which this week changed its methodology calculating rates. The drop follows a sharp decline in the yield on the 10-year Treasury last week after a government showed inflation cooled last month. The sudden decrease gave price-strained homebuyers and sellers… Source link

Mortgage rates dropped below 7% this week, but remain high enough to keep price-rattled homebuyers on the sidelines. The rate on the average 30-year fixed mortgage fell to 6.95%, down from 7.08% the week prior, according to Freddie Mac. Still, rates are 3.73 percentage points higher since the start of the year, the largest year-to-date increase in over 50 years. Sharply higher rates in combination with elevated home prices and still-high inflation have triggered a fight-or-flight response… Source link

Mortgage rates, over 7% or so, are at their highest levels in 20 years and loan applications are down. So, it should follow, that homeowners looking to refinance loans would also be headed to the sidelines in droves. But according to experts, it might still make sense for homeowners to refinance. Why? Rates, even at current levels, can still be a decent deal compared to alternatives. “People would still be refinancing if they need the cash, so they are withdrawing equity, even at much higher… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, Nov. 2, 2022 Today’s newsletter is by Janna Herron, Yahoo Finance’s personal finance editor. Follow Janna on Twitter @JannaHerron. Read this and more market news on the go with Yahoo Finance App. It’s no secret the mortgage market is getting hammered. Just look at last week’s stats on new home sales and pending ones and you… Source link