At its latest policy meeting, the Federal Reserve voted to keep its benchmark interest rate in a target range of 3.5% to 3.75%. The benchmark rate influences borrowing costs across the economy, affecting everything from mortgages and auto loans to business financing and credit card interest... more
by Biazowa 
Buying a home is becoming even more challenging as mortgage rates continue to move higher. The average rate for a 30-year fixed mortgage has now reached its highest level in nearly a year, increasing borrowing costs for buyers already dealing with elevated home prices and ongoing economic... more
by Biazowa 
California’s housing market showed renewed strength in June, with home sales rising for the third consecutive month as more buyers moved forward despite mortgage rates remaining well above the historic lows seen during the pandemic. New data from the California Association of REALTORS®... more
by Biazowa 
Mortgage rates continued to hover around the 6.5% mark this week, offering little relief for buyers hoping for a significant drop in borrowing costs. According to Freddie Mac, the average rate for a 30-year fixed mortgage increased slightly to 6.49%, up from 6.47% the previous week. Although rates... more
by Biazowa 
For many homebuyers, getting approved for a mortgage can be one of the most complicated parts of the homebuying process. Now, new changes to the Federal Housing Administration’s (FHA) mortgage program aim to simplify some of those steps and reduce barriers that can slow down lending. The U.S.... more
by Biazowa 
After months of affordability challenges, mortgage rates are finally showing signs of relief. However, lower borrowing costs alone have not been enough to bring more buyers rushing back into the housing market. New mortgage data shows that demand remains softer despite recent rate improvements,... more
by Biazowa 
A coalition of fair housing and lending organizations has filed a lawsuit against the Consumer Financial Protection Bureau (CFPB), arguing that recent changes to federal fair lending regulations could weaken protections for borrowers and reduce access to credit for underserved communities. The... more
by Biazowa 
As housing costs continue to strain many household budgets, federal regulators are warning homeowners to be cautious of companies promising quick mortgage relief. The Federal Trade Commission (FTC) recently filed legal action against a California-based operation accused of misleading homeowners... more
by Biazowa