#interest rates mortgage rates

[relaxedstyles]

[godisarepublican]

Sorry for reposting this photo but, look at the advertisement at the bottom of the page: A 30 year fixed rate mortgage has more than DOUBLED since 2019!

This photo is from 2019. The 30 year fixed rate mortgage was 3%. It's over 7% today!

Never mind the fact that the front page story is about how right wing counter protestors were told to never come back to Boston, while LeftTards were and are given carte blanche...

Joe Biden is such an inexcusable disaster that a 30 year fixed rate mortgage has gone up 233% since 2019!

"Cannibals ate my uncle!"

[follow-up-news]

US mortgage rates plummeted this week after weaker-than-expected employment data raised the odds of the Federal Reserve cutting interest rates next month. It’s a big step in the right direction for America’s notoriously unaffordable housing market. The standard 30-year fixed-rate mortgage averaged 6.47% this week, mortgage financing giant Freddie Mac said Thursday. That’s down substantially from last week’s average of 6.73% and marks the lowest level since May 2023. This week’s drop was the biggest since late December. Mortgage rates have steadily fallen over the past several weeks since reaching a 2024 peak of 7.22% in early May. Rates are down from a two-decade high seen late last year. “The decline in mortgage rates does increase prospective homebuyers’ purchasing power and should begin to pique their interest in making a move,” said Sam Khater, Freddie Mac’s chief economist, in a release. “Additionally, this drop in rates is already providing some existing homeowners the opportunity to refinance, with the refinance share of market mortgage applications reaching nearly 42 percent, the highest since March 2022.”

[thoughtlessarse]

Figures published by the Institute for Fiscal Studies (IFS) have shown a dramatic increase in the number of UK adults thrown into poverty due to increased mortgage costs. The study highlighted the damage being caused by an exploding mortgage timebomb, with those renewing their home loans, or having to take out new loans in the past two years experiencing a sharp fall in their disposable income. This has led to some households having to pay thousands of pounds more towards additional mortgage costs, driving up poverty rates amongst mortgagors by 1.4 percentage points (ppts) between December 2021 and December 2023. Millions of homeowners have seen a dramatic increase in borrowing costs after 14 consecutive increases in the Bank of England base rate from a record low in December 2021 of 0.1 percent, to its current rate of 5.25 percent. In calculating the headline poverty statistics, adjustments are made for household housing costs that include mortgage interest payments. Historically these statistics have been calculated on the assumption that all households have the same interest rates and does not consider the varying and growing mortgage interest rate differences between households. In the year 2022-23, the average interest rate was 2.3 percent meaning someone would pay interest payments of £240 per month for a household with a typical outstanding mortgage. However 10 percent of households faced an average mortgage interest rate of at least 4.7 percent, equivalent to £490 a month. Interest rate variation is a significant factor when trying to ascertain the real numbers of those in “mortgage poverty” and those defined as in “absolute poverty”.

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[jakeperalta]

so in like the best news of my life ever: I might be buying a house with my boyfriend this year!!?!??

[rosemochi]

I'm somebody who generally tries to keep appraised of Current Events but said events are starting to give me incredible anxiety

I think writing more fanfiction is the answer

[lise20190]

Part Time Jobs for International Students in the USA

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[anotherpapercut]

jokes where people are like "I should've bought a house during the market crash in 2008 instead of being a child" are so funny to me bc I know it's a joke but its like wow y'all really do not know what happened during that do you lmfaooo

[assetalliance]

Mortgage Finance

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[ardri-na-bpiteog]

I love how it feels like every month there's a news report that's like "The Social Democrats/Sinn Féin/Labour have introduced a bill to ban kicking babies and pushing elderly women into traffic. The government has announced it will oppose the bill."

[notayesmanseconomics]

The burden of higher mortgage costs starts to arrive

Over the weekend it seems that the chattering classes and establishment caught up with something we have been noting for a while now. I recall us discussing the UK give-year yield passing 4% with the implication being that higher mortgage rates were on their way. We can also add in one of our longest-running themes. Jeremy Hunt, UK chancellor, has ruled out giving any direct fiscal support to…

[dearmrsawyer]

Because of the position of our house (and the fact that we have more windows than walls) the sun shines on our verandah/lounge room from the moment it rises until it ducks behind the mountain (3pm in winter 8pm in summer). I think our house gets more sun than anyone else in the suburb, all the other houses are shaded for the majority of the day by trees, other houses, or the mtn because they sit right where the incline increases, but our house is on a v wide corner at the end of the street, so there's no house next to us, the house behind us is MUCH lower (we block their sun lol rip) and the house across the road is v far (the mtn blocks the sun before their house can). Basically we may have bought a house at the worst time in history but we hit the sunshine lottery lol

[mortgagedeliveryguy]

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[knacknews]

Everything You Need To Know About Home Mortgages

TIP! Start the process of taking out a mortgage way ahead of time. Get your budget completed and your financial documents in hand. From first time buyers to those who have done it before, a good mortgage is still a must. Without the right mortgage you may pay more than you have to, or even face losing your home to foreclosure. Keep reading for some useful tips on how to find a good mortgage. TIP!…

[mariewaltonrealtor]

Mortgage Rates Just Shot Up Again—but the News Gets Worse From There

Mortgage Rates Just Shot Up Again—but the News Gets Worse From There