Mortgage

Fewer Americans are moving these days, but among those that are, more are looking to new cities to find a bargain, a recent Redfin survey said. Roughly 25% of home searchers looked to relocate to a new metro in the first quarter, according to the survey. That’s an increase from 22.8%…

Should Congress and the Biden Administration fail to raise the debt ceiling and avoid a government default on the national debt, the housing market could face severe fallout, according to forecasts by Zillow.  Home sales could drop by up to 23% in the most severe month following a debt default,…

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The average long-term U.S. mortgage rate climbed this week to its highest level since November, according to weekly data compiled by mortgage buyer Freddie Mac. The rate on the 30-year fixed mortgage rose to 6.79% this week from 6.57% a week ago. One year ago, it averaged 5.09%.”Mortgage rates jumped…

Mortgage rates increased for the third week in a row amid signs of a strong labor market and hints that the Federal Reserve may initiate another rate hike, according to the latest data from Freddie Mac. The average 30-year fixed-rate mortgage rate increased to 6.79% for the week ending June…

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