Published May 24, 2019 Real Estate FOXBusiness Facebook Twitter Comments Print video US-China trade dispute may cause the Fed to cut rates Former Dallas Fed advisor Danielle DiMartino Booth, Wall Street Journal assistant editorial page editor James Freeman and Layfield Report CEO John Layfield on whether the U.S.-China trade dispute will push the Federal Reserve into lowering interest rates. On the heels of continued trade tensions with China, mixed economic data and volatile markets, there is one silver lining for Americans: Lower home mortgage interest rates. Continue Reading Below Earlier this week, the average rate on a 30-year, fixed-rate mortgage fell four basis points, according to Mortgage News Daily. MORE FROM FOX BUSINESS TRISH REGAN: CHINA PLAYS BY ITS OWN SET OF RULES BUYBACKS ARE BIGGER THAN EVER-- BUT IS A BAD END COMING? The dip in mortgage rates is common when cash flows out of stocks and into bonds. The … [Read more...] about The silver lining amid the China trade war? Lower mortgage rates
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A for sale sign marks a house in the Dallas suburb of Richardson, Texas, in this February file photo. The nation’s average mortgage rate for a 30-year fixed-rate loan fell this week to 4.06 percent. Fixed mortgage rates didn't go down much this week, but they did drop for the fourth week in a row. According to the latest data released Thursday by Freddie Mac, the Federal Home Loan Mortgage Corp., the 30-year fixed-rate average slipped to 4.06% with an average 0.5 point. (Points are fees paid to a lender equal to 1% of the loan amount.) Rates were 4.07% a week ago and 4.66% a year ago. The 30-year fixed rate matched its lowest level of the year, set back at the end of March. The 15-year fixed-rate average dipped to 3.51% with an average 0.4 point. It was 3.53% a week ago and 4.15% a year ago. The five-year adjustable rate average ticked up to 3.68% with an average 0.4 point. It was 3.66% a week ago and 3.87% a year ago. Zillow economic analyst Matthew Speakman said the lack of … [Read more...] about Fixed mortgage rates decline for 4th week
House prices may be out of reach for many but banks are making it easier for first-time buyers to get on the property ladder by offering the lowest mortgage rates since records began in 1995. Interest rates on two and five-year deals have fallen to a 23-year low, according to the latest Bank of England figures. People looking to buy a property with a 5pc deposit and take out a loan for the remaining 95pc could get a two-year mortgage with an interest rate of 33.3pc, down from 4.02pc a year ago. For five-year mortgages, the average rate was 3.89pc at the end of October. It was 4.71pc in the same month the previous year. Both rates beat the record lows for each type of mortgage reached a month earlier, at 3.39pc and 3.95pc respectively, suggesting that lenders are increasing efforts to drum up business. Shaun Church of Private Finance, a mortgage broker, said the reason for the falling rates was stiff competition among lenders. Low-deposit mortgages, … [Read more...] about First-time buyer mortgage rates fall to record low
By Jennifer Wells Business Columnist Fri., Oct. 26, 2018 “I think higher interest rates are always difficult when people haven’t seen them for a long time.” — Carolyn Wilkins, deputy governor of the Bank of Canada The pendulum continues to swing toward a more “normal” state of affairs, with the announcement this week from the Bank of Canada that it was raising its benchmark rate by 25 basis points, to 1.75 per cent, the fifth consecutive nudge upward. Prime lending rates at the big banks dutifully followed. Perhaps some mortgage holders will be number-crunching over brunch this Saturday morning, carrying out a self stress test just like Bank of Canada governor Stephen Poloz once advised. What if the bank raises again and then again? Does it relieve the pain at all to point out that my own mortgage once bore an interest rate of 12 per cent? I thought not. Article Continued Below I counted myself lucky, by the way, as … [Read more...] about Will higher mortgage rates dampen Canada’s economy?
Get the Better newsletter. SUBSCRIBE A good credit score can land you your dream home without a nightmare mortgage. Generally, a higher credit score will earn you a lower interest rate with most lenders. Mortgage providers tend to consider a credit score above 700 ideal. But getting your score anywhere in the 620-850 range can save you tens of thousands of dollars in interest over the life of a 30-year fixed mortgage, according to bankrate.com. Careful Cents founder Carrie S. Nicholson achieved a 720 score that allowed her and her husband Ryan, 31, to buy their first home with an affordable mortgage rate. Nicholson, 34, boosted her credit score 100 points in less than a year. Here’s how she did it. Request a credit line increase When Nicholson began to consider purchasing a home in January, she was disappointed to see her credit score was in the low 600s. The score was good, she recalled, but not ideal. “I had some credit card debt on there, a personal loan and a car … [Read more...] about Want to boost your credit score for a better mortgage rate? Here’s how one woman did it.