Mortgage rates wobble under key threshold, sustaining spring buying streak

iStockphotoMortgage rates have remained supportive of more home purchases. Rates for home loans wobbled but remained relatively flat as the bond markets that influence those rates searched for direction, mortgage provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 3.93% in the July 27 week, up from 3.92%. The […]

Lowest mortgage rates in a month barely boost weekly applications, up 0.4%

Mortgage rates moved decidedly lower last week, but neither homebuyers nor homeowners were particularly impressed. Total mortgage application volume rose just 0.4 percent seasonally adjusted compared with the previous week, according to the Mortgage Bankers Association. Volume is down 22 percent compared with the same week one year ago, due […]

LOAN WARNING Is your mortgage a ‘ticking time bomb?’ Millions of households warned about interest-only home loans

INTEREST-only mortgages are a “ticking time bomb” for hundreds of thousands of homeowners in the UK who may have no way of paying off the money they owe, experts have warned. Borrowers on this type of loans are allowed to only pay the interest on their mortgage each month, meaning […]

Mortgage rates slide for Tuesday

Several closely watched mortgage rates dropped today. The average rates on 30-year fixed and 15-year fixed mortgages both dropped. Meanwhile, the average rate on 5/1 adjustable-rate mortgages also trended down. Mortgage rates are in a constant state of flux, but they remain much lower overall than they were before the […]

Tougher Rules And Higher Rates: What’s Next For The Mortgage Market?

It all began last October, when federal Finance Minister Bill Morneau announced several new regulations aimed at ensuring that Canadian borrowers only take on mortgages they can afford, including enforcing that all insured borrowers qualify for loans based on the five-year posted mortgage rate. These regulations were meant to slowly decrease […]