Mortgages

When your cannabis business needs cash, where do you turn? Should you give up some control for investors or borrow money and risk debt? At the Benzinga Cannabis Capital Conference in Chicago, experts tackled these tough decisions. The panel, “Cannabis Financing 101,” offered practical...

The S&P 500 and Dow Jones Industrial Average both achieved record highs this week. A strong kickoff to the third-quarter earnings season fueled both indexes, offsetting concerns from last month's unexpected inflation surge. JPMorgan Chase & Co. (NYSE:JPM), Wells Fargo & Co. (NYSE:WFC),...

Mortgage rates continue to fall toward 6% as the housing market absorbs the Federal Reserve’s 0.5% rate cut on Wednesday, raising demand for refinancing and buying, stated Freddie Mac. The average rate for a 30-year fixed mortgage fell to 6.09% on Thursday, down from 6.2% a week ago and 7.19...

Homebuilder stocks are hitting new highs as anticipation builds ahead of the Federal Reserve’s upcoming rate cut decision. Both Lennar Corp (NYSE:LEN) and PulteGroup, Inc. (NYSE:PHM) surged to 52-week highs on Sept. 18, with Lennar reaching $190.12 and PulteGroup hitting $141.43. The rally...

Homeowners have more real estate equity than ever before, according to data from the federal government and an investment group. Total homeowner’s equity in the U.S. reached $35.1 trillion in this year’s second quarter, data from the Federal Reserve showed. It fell as low as $29.8...

Editor's Note: This article has been updated to reflect that the data was released on Wednesday. Positive news has emerged for U.S. homebuyers navigating the housing market, as the average interest rate on 30-year fixed-rate mortgages with conforming loan balances (up to $766,550) declined to 6.50...

Vice President Kamala Harris laid out a plan to lower costs for middle-class Americans with a focus on food costs, home ownership costs and health care costs during a speech in swing state North Carolina Friday. Improve the Economy: Harris laid out a plan to improve the economy and life for the...

Mortgage applications skyrocketed by 16.8% in the week ending Aug. 9, according to data released Wednesday by the Mortgage Bankers Association. This impressive increase follows a 6.9% rise in the previous week and represents the largest one-week jump since January 2023. The surge comes despite the...

Expectations that the Federal Reserve will soon begin cutting interest rates have driven mortgage rates to their lowest levels in over a year Wednesday, positively impacting both new mortgage applications and refinancing of existing loans. The average contract interest rate for 30-year fixed-rate...

Existing home sales in the United States plunged 5.4% in June 2024 from the previous month, marking the steepest monthly drop since November 2022. This decline is attributed to heightened buyer apprehension, as the median sales price reached a record high for the second consecutive month. In June...

Mortgage rates continued to trickle down this month, falling to 6.77%. The housing market continues its long-term movement to equilibrium, albeit slowly, as housing remains unaffordable for many Americans. The Data: According to a Freddie Mac report, the average 30-year fixed mortgage rate fell to...

Sales of new single‐family homes declined last month as mortgage rates continued to remain elevated. May sales came in at a seasonally adjusted annual rate of 619,000 homes, according to estimates released jointly on Wednesday by the U.S. Census Bureau and the Department of Housing and Urban...

Mortgage rates have declined for the third consecutive week following signs of cooling inflation and lower interest rates from the Federal Reserve, according to Freddie Mac (OTC:FMCC). The 30-year fixed mortgage rate averaged 6.87% as of Thursday, down from last week’s average of 6.95%. A...

Mortgage rates dropped for a second consecutive week as inflation continued to ease. The average 30-year fixed-rate mortgage was 6.95% for the week ending June 13, according to Freddie Mac‘s (OTC:FMCC) latest Primary Mortgage Market Survey, Fox Business reported. That is down from an average...

A look at weekly and monthly data could show that homes for sale are seeing price cuts and fewer people are buying new homes, as consumers continue to grapple with high mortgage rates. What Happened: The median sale price of a home hit an all-time high of $390,613 in a recent report from Redfin...