Since the mortgage interest rate is above 6%, more borrowers are opting for adjustable-rate loans

Mortgage rates rose to more than 6% this week, pushing the already expensive homes further out of reach for many borrowers. Discouraged buyers may choose to wait and see, on the gamble that prices and rates will fall in the coming years as the market cools and inflation slows, as some economists predict. For those … Read more

Mortgage rates above 6% for the first time since the 2008 financial crisis

Mortgage rates rose 6% this week, the highest level since 2008, shocking homebuyers who paid less than half that last year. The average interest rate on a 30-year fixed mortgage rose to 6.02% this week, compared to 5.89% last week and 2.86% a year ago, according to a survey of lenders released Thursday by mortgage … Read more

Mortgage rate reaches 5.89%, highest level since 2008

Updated September 8, 2022 10:18 AM ET Listen to article (1 minute) Mortgage rates hit their highest level in nearly 14 years this week, another blow to the rapidly cooling housing market. The average interest rate on a 30-year mortgage rose to 5.89%, reaching an earlier June high, according to a weekly survey by Freddie … Read more

“The house prices where I live are close to $600,000.” Is it a smart move to buy a house with cash – or better to take out a mortgage?

Best big move, I have recently been thinking about purchasing my first home at 35. I have a litter of about $1.8 million that I’ve built over the past 14 years. This money is fully invested in a select few stocks that have performed extremely well over this period. About $400,000 is profit through investments, … Read more

My second husband of 5 years would like to inherit part of my house because he pays half the mortgage. I want to go 100% to my children. Who’s right?

Dear Quinten, I have been married to my second husband for five years. We live in the house I bought more than 20 years ago that is in my name only, as is the mortgage. He pays me a little less than half of my mortgage, and we split other bills, with me paying a … Read more

I am the chief economist for a mortgage company that has funded over $100 billion in loans. Here are 3 things you need to know about the housing market right now.

Cameron Findlay While house prices and mortgage rates are rising and the housing stock remains severely limited, many buyers are wondering: should I buy? And if I want to buy, what do I need to know about the housing market? That’s why MarketWatch Picks has created a series in which we ask leading economists and … Read more

The affordability of housing plunges to its lowest level since 2006. The ‘great slowdown’ of the market has arrived.

Font size According to the Bank of America Institute report, the number of new mortgages fell by about 30% in the second quarter. Photo by Justin Sullivan/Getty Images A “big slowdown” is happening in the US housing market, a new report from bank of America says, as mortgage production shrinks and spending on household items … Read more

The housing ‘big slowdown’ is here as mortgage production and spending plummet, Bank of America says, and these cost-effective cooking tips won’t leave you with an empty stomach — or wallet

Hi, MarketWatchers. Don’t miss these top stories. This startup, founded by former Airbnb employees, lets you try vacation homes before you buy them Try before you buy: second home edition. read more Housing ‘big slowdown’ has arrived as mortgage production and spending plummet, says Bank of America A new report from the Bank of America … Read more

Mortgage rates fall to 5.30% on recession fears

Mortgage rates saw their biggest drop since 2008 as investors raised their bets that the economy was headed for a downturn. The average interest rate on a 30-year mortgage fell to 5.30%, mortgage financing giant Freddie Mac said Thursday. That’s down from 5.70% last week. Mortgage rates have not seen such a major weekly decline … Read more

Mortgage market Tumult pushes Pimco-backed home borrower to chapter 11

Residential Lender First Guaranty Mortgage Corp. has filed for bankruptcy, citing deteriorating conditions in the mortgage market as home sales slow and fewer home borrowers refinance due to rising interest rates and tight housing supply. First Guaranty cut 471 jobs, nearly 80% of its workforce, and stopped lending ahead of Thursday’s Chapter 11 filing. According … Read more