Mortgage rates this year have had the most sustained increase to the start of a year in more than 40 years, with the average rate on a 30-year fixed-rate mortgage rising to 4.66 percent this week.
“Healthy consumer spending and higher commodity prices spooked bond markets and led to higher mortgage rates over the past week,” said Sam Khater, Freddie Mac’s chief economist.
Current homeowners are staying put — and spending to renovate. A recent Bankrate.com survey found that 62 percent of current homeowners do not ever plan to move. And more than a third of homeowners said they are likely to remodel, upgrade or add to their current home in the next five years.
The number of homeowners with a mortgage in negative equity continues to decline nationwide, but the D.C. region still has one of the highest negative equity rates among big cities.
Across the country, nearly 10 percent of homeowners with a mortgage still owe the bank more than they could sell their homes, but recent numbers show an improving outlook.
Mortgage rates fell again this week, and might continue to do so.
The Washington region still has a negative equity problem, though the number mortgaged homeowners in the region who owe the bank more than they could sell for continues to fall.
Long-term rates for larger mortgages remain a bit lower than rates for conforming mortgage loans.
Some are better off using the money elsewhere, but extra payments and refinancing can do a number on your mortgage.
ALAN SUDERMAN Associated Press RICHMOND, Va. (AP) — Virginia Attorney General Mark Herring is suing some of the world’s largest banks for $1.15 billion in damages related to the housing market crash. Herring said at…
D.C. may be one of the most expensive U.S. cities in which to live, but a new report by personal finance website Bankrate shows the District has the fifth lowest mortgage closing costs.
A state mortgage program is lowering its rates for two months in Western Maryland to entice homebuyers.
Just when you thought it was already expensive to live, park and
eat in the D.C. area, a new study found homebuyers in the D.C. metropolitan area
need to have some of the fattest paychecks in the country.
A new analysis shows that loan applications for home purchases
have dropped 20 percent in the past four months compared with the
same period a year ago, and experts think student loan debt may be
The credit score bar is rising for home buyers seeking the best
mortgage rates, according to real estate data firm Zillow Inc.