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Tag: rates

Rates Are Rising: How to Navigate Buying a Home in the Current Market

By Eileen Derks, SVP, Head of Mortgage at Laurel Road; A 2022 Platinum WCI Medical School Scholarship Sponsor Since the beginning of 2022, the Federal Reserve has raised mortgage rates multiple times in an effort to curb inflation. After staying at historic lows throughout 2020 and...

Fed’s Mary Daly says ‘our work is far from done’ in raising rates

Mary Daly, President of the Federal Reserve Bank of San Francisco, poses after giving a speech on the U.S. economic outlook, in Idaho Falls, Idaho, U.S., November 12 2018.Ann Saphir | ReutersThe Federal Reserve still has a lot of work to do before...

Household debt tops $16 trillion as inflation surges and rates rise

A "For Sale" sign outside a house in Albany, California, US, on Tuesday, May 31, 2022. Homebuyers are facing a worsening affordability situation with mortgage rates hovering around the highest levels in more than a decade.Joe Raedle | Bloomberg | Getty ImagesHousehold debt...

Mortgage demand declines further, even as interest rates drop a bit

A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida.Joe Raedle | Getty ImagesMortgage demand edged lower for the fourth straight week, according to data released Wednesday, even though interest rates have fallen from their recent...

Pending home sales fell 20% in June as mortgage rates soared

A "Sale Pending" sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022.David Paul Morris | Bloomberg | Getty ImagesSigned contracts to purchase existing homes dropped 20% in June compared with the same month a year ago, the National Association...