Mortgage News

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News for: CNBC
Showing 121 - 131 of 131 results
May 21, 2025 4:00 AM — Mortgage Rates
Mortgage demand drops after interest rates jump to the highest level since February
CNBC
Mortgage rates increased last week leading to a 5.1% drop in mortgage applications according to the Mortgage Bankers Association. This rise in rates is attributed to concerns about inflation and increasing deficits and debt. Applications for both home purchases and refinances decreased, with homebuyers facing more listings but also higher interest rates.
May 19, 2025 6:00 PM — Interest Rates
China cuts benchmark lending rates for the first time in 7 months in Beijing's growth push
CNBC
China cut its key lending rates by 10 basis points in an effort to boost its economy amidst easing trade tensions and a stronger yuan. This marked the first rate reduction since October. The rate cuts aim to lower key lending rates, with the 5-year LPR serving as a benchmark for mortgage rates. Further rate cuts are expected by the end of the year. The stimulus measures announced by Beijing includ... more
May 19, 2025 11:00 AM — Mortgage Rates
Mortgage rates cross back over 7% after U.S. credit downgrade
CNBC
Mortgage rates surged higher after Moody's downgraded the U.S. credit rating, reaching the highest level since April. This increase in rates had a direct effect on the housing market, causing a drop in pending sales of existing homes and homebuilder sentiment. There was a slight increase in mortgage demand when rates were around 6.9%, but any increase above 7% led to a slowdown in buyers and disqu... more
May 19, 2025 8:00 AM — Interest Rates
What Moody’s downgrade of U.S. credit rating means for your money
CNBC
Moody’s decision to downgrade the U.S. credit rating is expected to increase the cost of borrowing, impacting consumer loans like mortgages, credit cards, and personal loans. The downgrade puts pressure on bond prices, leading to higher yields. The increase in interest rates is attributed to the federal government’s budget deficit and economic uncertainty due to President Trump's tariff policy.
May 14, 2025 4:00 AM — Housing Market
Mortgage demand from homebuyers continues to recover, even with higher interest rates
CNBC
Mortgage demand from homebuyers has increased for the second week in a row, despite recent economic uncertainty and concerns over tariffs. The average contract interest rate for 30-year fixed-rate mortgages has risen slightly compared to the previous week and is significantly higher than it was a year ago. The increase in home inventory is attracting more potential buyers, leading to a rise in pur... more
May 13, 2025 6:00 AM — N/A
FHFA Director Bill Pulte on the housing market, mortgage rates, future of Fannie Mae & Freddie Mac
CNBC
The article discusses the impact of rising mortgage rates on home buyers. It mentions that mortgage rates have been increasing and may continue to rise in the future. This could make it more expensive for home buyers to borrow money to purchase a home. As a result, some potential buyers may be priced out of the market or may have to settle for a smaller or less expensive home. Overall, the article... more
May 8, 2025 6:00 AM — Interest Rates
Federal Reserve holds interest rates steady: What that means for credit cards, auto loans, mortgages and more
CNBC
The Federal Reserve has decided to keep interest rates steady due to uncertainty caused by President Donald Trump's tariff policies and weakening economic growth. This decision has resulted in high borrowing costs and prices for consumers, as the rates on most consumer loans remain elevated. Mortgage rates, which are indirectly related to the Fed, have slightly decreased due to concerns over tarif... more
May 7, 2025 4:00 AM — Mortgage Rates
Weekly mortgage demand suddenly surges, despite lingering economic uncertainty
CNBC
Mortgage interest rates have decreased slightly for the second week in a row due to negative economic news. Despite this, mortgage demand has surged by 11%. The average contract interest rate for 30-year fixed-rate mortgages has dropped to 6.84%. Home buyers are taking advantage of the lower rates, especially for conventional loans. The housing market has been slow, with potential buyers hesitant ... more
May 6, 2025 6:00 PM — Interest Rates
China announces sweeping measures to ease policy in bid to shore up trade-war hit economy
CNBC
China's central bank and financial regulators announced policy steps including interest rate cuts to bolster the economy amid trade worries. The measures include reducing mortgage rates for first-time homebuyers by 25 basis points. These measures may have limited impact on boosting credit demand as borrowing has been insensitive to interest rates. China is also preparing more measures to support s... more
May 6, 2025 7:00 AM — Mortgage Rates
The Federal Reserve is likely to hold interest rates steady this week. Here's what that means for your borrowing costs
CNBC
The article discusses how the Federal Reserve is expected to hold interest rates steady despite pressure from President Trump. The uncertainty caused by trade policies and inflation forecasts is making the Fed hesitant to cut rates. High prices and borrowing costs are impacting consumers, while the potential effects of a trade war are causing concern. Mortgage rates have seen a slight decline, but... more
Apr 30, 2025 3:37 AM — Mortgage Rates
Homebuyer mortgage demand drops further, as economic uncertainty roils the housing market
CNBC
Mortgage rates remained relatively stable last week, with the average rate for a 30-year fixed-rate mortgage decreasing slightly. However, homebuyers are pulling back due to concerns about the economy, leading to a 4% drop in mortgage applications for home purchases. Refinance applications also decreased, likely due to rates remaining around 7%. The impact of the broader economic uncertainty on th... more
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