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Mortgage Rates Hold Steady as Housing Market Stresses Mount

Rates for home loans took a breather after churning to the highest in nearly eight years, mortgage liquidity provider Freddie Mac said Thursday. The 30-year fixed-rate mortgage averaged 4.94% in the Nov.15 week, unchanged during the week. The 15-year fixed-rate mortgage averaged 4.36%, up three basis points. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.14%, also unchanged. Those rates don’t include fees associated with obtaining mortgage loans. Fixed-rate mortgages move in line with the U.S. 10-year Treasury note, although with a slight delay. Investors have snatched up bonds as concerns about the Chinese economy and geopolitics have prompted a stock sell-off. Bond yields fall as prices rise, and vice versa. Meanwhile, a sense of stagnation keeps creeping into the many corners of the housing market. ...

Here’s 9 Delicious Outdoor Kitchens Just Waiting for a Buyer to Bite

We want to offer some pretty cool outdoor kitchen ideas for homeowners, buyers and anyone just looking to salivate. Memorial Day came and gone and we hope you had a nice relaxing time with friends and family and took the time to remeber those that provide us with this freedom. Plus, this is the day begins the summer which means that those long months spent hibernating indoors are soon going to transition to long days spent outdoors—firing up the grill for some great al fresco dining. But though you’re outside, you don’t have to rough it. In more and more homes across the country, outdoor cooking has gone upscale. Amenities abound for serious home cooks who want their outdoor kitchen to resemble—or even surpass—their indoor ...

Mortgage Rates Roar to a Fresh 2018 High

Rates for home loans surged on strong economic data, taking the benchmark rate to its highest point so far this year. The 30-year fixed-rate mortgage averaged 4.47%, according to Freddie Mac’s weekly survey, out Thursday. That was five basis points higher than in the previous week, and the highest for the popular mortgage product since January 2014. The 15-year fixed-rate mortgage averaged 3.94%, up from 3.87%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.67%, up from 3.61% last week. Those rates don’t include fees associated with obtaining mortgage loans. Mortgage rates generally follow the path of the 10-year U.S. Treasury note yield, which has started to recover after being battered by trade war fears a few weeks ago. Stronger economic data and hints of firmer ...

Mortgage Rates Touch 4-Year High to 4.40%

Rates for home loans have reached a nearly a four-year high as investors abandoned bonds in the face of stronger signs of inflation and central bank tightening, sending yields on debt higher. The benchmark 30-year fixed-rate mortgage averaged 4.40% during the week ending Feb. 22, according to Freddie Mac’s weekly survey, out Thursday. That was up two basis points from the prior week and leaves rates nearly half-a-percentage point higher than the level at which they started the year. The 15-year fixed-rate mortgage averaged 3.85%, up from 3.84%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.65%, up two basis points. Those rates don’t include fees associated with obtaining mortgage debt. Mortgage rates track the benchmark 10-year U.S. Treasury note, which has been clobbered lately as ...

Mortgage Rates Rise to Nearly Four-Year High on Inflation Concerns

Mortgage rates have climbed to the highest level in close to four years, according to data released Thursday. The 30-year fixed-rate mortgage averaged 4.38% in the week ending Feb. 15, up from 4.32%, mortgage buyer Freddie Mac said. A year ago, the benchmark mortgage averaged 4.15%. The 15-year fixed-rate mortgage averaged 3.84%, up from 3.77%, and the 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 3.63%, up from 3.57%. The backup in rates has occurred on concerns about rising inflation pressure, with the latest increase coming after a stronger-than-forecast gain in consumer prices. “Inflation measures were broad-based, cementing expectations that the Federal Reserve will go forward with monetary tightening later this year,” said Len Kiefer, deputy chief economist. Fellow mortgage buyer Fannie Mae said it’s upped its ...