Homebuilders are not getting a bump from lower mortgage rates

David Paul Morris | Bloomberg | Getty Images A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018. Mortgage applications to purchase a newly built home dropped 11 percent in November, compared with a year ago, according […]

Mortgage rates drop to 2-month low—an unexpected holiday gift to housing

Daniel Acker | Bloomberg | Getty Images Prospective buyers and a real estate agent, center, enter a home for sale in Warren, Michigan. Americans may be losing money in their stock portfolios this week, but they are gaining purchasing power in the housing market. Mortgage rates are falling sharply, as […]

Mortgage rates shoot up to their highest level in nearly 8 years

Strong employment numbers caused mortgage rates to take off with the 30-year fixed-rate average the highest it has been in nearly eight years. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average jumped to 4.94 percent with an average 0.5 point. (Points are…  [“source=forbes]