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High inflation and Federal Reserve interest rate hikes helped push mortgage rates up to decades-long highs over the last couple of years. If next week's Consumer Price Index data comes in hotter than expected, for example, that could push mortgage rates back up. This means we may need to see a few more months of slowing inflation data before the Fed cuts rates and mortgage rates start trending down. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

Persons: it's, Jerome Powell, Powell, Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

Mortgage rates have receded a bit this week, with average 30-year mortgage rates hovering around 10 basis points below last week's average at 6.59%,according to Zillow data. Depending on how some upcoming economic reports turn out, we could see mortgage rates inch down a little further in March. Now that the Fed is considering cutting rates this year, many experts believe that mortgage rates will go down soon. This is a key gauge of inflation, and the results of this report could also cause some volatility with mortgage rates. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Federal Reserve, of Labor Statistics, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ The American Dream is under siege
▼ + stars: | 2024-03-02 | by ( Matt Egan | ) edition.cnn.com time to read: +15 min

Parents of young children are making difficult choices to afford child care — or they’re opting to evade it by dropping out of the workforce altogether. Even as the inflation rate has cooled across the US economy, child care remains a sore spot for many families. The weekly price of day care for a toddler surged 9% in 2023, according to Care.com, a marketplace for child care. Of course, Allison is hardly alone in feeling like the American Dream has been more difficult — and expensive — to attain than imagined. “The American dream is being taken away from the younger generation by the housing affordability challenges,” said Lawrence Yun, chief economist at the National Association of Realtors.

Persons: Hana Husković, Price, Hana, Michelle, they'll, ” Hana, “, It’s, they’ll, ’ Allison Powell, Liam Kelly, ” Allison, Allison Powell, Corinne ., ”, Allison, I’ll, homebuyers, Lotfi Karoui, Goldman Sachs, Lawrence Yun, Yun, Priscilla Almodovar, Fannie Mae, ” Almodovar, that’s, Almodovar, they’d, Homebuilding, Mark Zandi, Biden, ” Lael Brainard, Brainard, ” Brainard, ‘, Rachael Gambino, Garrett Mazzeo, Rachael, Deborah Brunswick, John General, ” Rachael, won’t, they’ve, – Organizations: New, New York CNN, Bureau of Labor Statistics, Wall, CNN, Federal, Intercontinental Exchange, ICE, Bloomberg, Getty, Rust Belt, National Association of Realtors, North, NAR, That’s, Baby Boomers, Homeowners, Federal Reserve, Moody’s Analytics, White, National Economic Council, American, Target, Starbucks, Facebook Locations: New York, United States, Atlanta, Peachtree Corners , Georgia, Decatur, Decatur , Georgia, Carolina, Yugoslavia, Italy, Mexico, Oakland , California, Livermore, San Francisco, California, Los Angeles, San Diego, Francisco, Miami, Honolulu, Rust, Des Moines , Iowa, Dayton , Ohio, Cleveland , Ohio, Scranton , Pennsylvania, Los Angeles , California, North America, America, States, Lansdale , Pennsylvania, Philadelphia

☆ The Austin housing market just won't quit. It's an example of what's happening nationwide despite high prices and interest rates.
▼ + stars: | 2024-03-02 | by ( Cork Gaines | ) www.businessinsider.com time to read: +5 min

Austin's housing market is heating up again, despite recent forecasts that it would tank. Nationwide forecasts now predict a rise in home prices, despite still-high interest rates. AdvertisementJust when some people thought the Austin, Texas, housing market was going to crash, it's starting to heat up again. This sudden surge in Austin housing sales is a bit surprising. Despite high prices and interest rates, homebuyers are determinedIn 2022, Nicholas Gerli, the CEO of real estate data analytics firm Reventure Consulting, named Austin the No.

Persons: —, Austin isn't, Nicholas Gerli, Austin, Realtor.com, George Rose, Fannie Mae Organizations: Nationwide, Service, Business, Realty Austin, Reventure Consulting, National Association of Realtors, NAR, Federal Reserve Bank Locations: Austin , Texas, Austin

Uncertainty around when the Federal Reserve will start cutting rates has kept mortgage rates elevated in recent weeks. This week, average 30-year mortgage rates ticked up four basis points to 6.94%, according to Freddie Mac. Once inflation gets closer to the Fed's 2% target rate and the central bank starts lowering its benchmark rate, mortgage rates should go down. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, we'll, Fannie Mae Organizations: Federal Reserve, homebuying, Commerce Department, Zillow, Mortgage, Association, ARM Locations: Chevron

Mortgage rates have been fairly calm so far this week, with average 30-year mortgage rates hovering around 6.61%, according to Zillow data. Once the Fed starts lowering its benchmark rate, mortgage rates are expected to trend down as well. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Fannie Mae, you'll Organizations: Fed, Zillow, Mortgage, Association, Sky Locations: decelerate, stagnate, Chevron

Thanks to high mortgage rates, mortgage refinance rates, and even higher home prices, the mood among hopeful homebuyers has been fairly bleak. Is there a chance the housing market will crash anytime soon? Though a large number of Americans believe the housing market is at risk of crashing, the economists who study housing market conditions overwhelmingly do not expect a crash in 2024 or beyond. The US is currently between 2.3 million and 6.5 million units short of a healthy housing supply, according to Realtor.com. What a housing market crash would mean for homebuyersAnything is possible, and nobody has a crystal ball to see for certain what will happen in the housing market in the coming months and years.

Persons: —, homebuyers, Fannie Mae's, Lawrence Yun, Yun Organizations: Service, Housing Survey, National Association of Realtors, Housing Locations: Chevron

☆ Here are Monday's biggest analyst calls: Nvidia, Alphabet, Salesforce, Arm, CVS, BJ's, Super Micro & more
▼ + stars: | 2024-02-26 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Morgan Stanley reiterates Target at overweight Morgan Stanley stood by its overweight rating on the department store owner. Morgan Stanley reiterates Salesforce as overweight Morgan Stanley said it likes the setup heading into earnings later this week. Morgan Stanley upgrades HashiCorp to overweight from equal weight Morgan Stanley said the software company has a compelling valuation. Morgan Stanley upgrades AvalonBay to overweight from equal weight Morgan Stanley said apartment REIT stocks like AvalonBay are '"cheap for a reason." Morgan Stanley upgrades Sun Country to overweight from equal weight Morgan Stanley said it likes the airline's business model.

Persons: Goldman Sachs, Goldman, Morgan Stanley, Salesforce, Rosenblatt, Jefferies, Amer, Wells, Jane Fraser, Roth MKM, Roth, TD Cowen, TD, DA Davidson, OW, Fannie Mae, KBW, Freddie, Truist, it's, Piper Sandler, Piper, Bentley Organizations: Nvidia, BMO, Apollo, Amer Sports, Citi, Citigroup, Bank of America, KKR, APO, BJ's Wholesale, D.A, Susquehanna, Energy, HSBC downgrades Moderna, HSBC, Moderna, Google, YouTube, " Bank of America, Omega Healthcare, Sun, DuPont's Mobility, JPMorgan, Navy, Bentley Systems Locations: USD75, Asana, ASAN

Strong economic data has pushed back expectations of when mortgage rates will drop, but experts still believe they'll go down this year. This means that mortgage rates may remain elevated for at least a few more months. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates would impact your monthly payments. 15-year Fixed Mortgage RatesLast week, average 15-year mortgage rates were 6.29%, a 17-basis-point increase from the previous week, according to Freddie Mac data. Once the Fed cuts rates, mortgage rates should fall even further.

Persons: they'll, Fannie Mae, Doug Duncan, Freddie Mac, you'll, it's Organizations: Federal Reserve, Zillow Locations: Chevron

Right now, average 30-year mortgage rates are more than 40 basis points higher than they were this time last month. As long as price growth continues to come down, mortgage rates should ease this year. The person with the better score would also pay around $300 less on their monthly mortgage payment. See more mortgage rates on Zillow Real Estate on ZillowMortgage Refinance Rates TodayMortgage type Average rate today This information has been provided by Zillow. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments.

Persons: They're, they've, it's, myFICO, Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

The economy has been doing surprisingly well so far this year, and it's pushing mortgage rates back up. Average 30-year mortgage rates rose 13 basis points to 6.90% this week, according to Freddie Mac. Average 15-year mortgage rates also increased to 6.29% this week, a 17-point jump. Once the Federal Reserve starts lowering the federal funds rate, mortgage rates are expected to go down as well. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, you'll, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Here are some strategies to maximize your financial aid for college
▼ + stars: | 2024-02-22 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Apply for financial aidIn ordinary years, high school graduates miss out on billions in federal grants because they don't apply for financial aid. Because this year's award letters are likely to look a lot different, that also opens the door for families to ask for more college aid. In that case, you may be able to appeal to the college financial aid office, according to Menaka Hampole, assistant professor of finance at the Yale School of Management. Alternatively, if the financial aid packages from other, comparable schools were better, that is also worth bringing to the school's attention in an appeal. "It's very important for students and families to know that financial aid offices tend to be very approachable," Greenberg said.

Persons: haven't, Rick Castellano, Sallie Mae, Greenberg, Menaka Hampole Organizations: U.S . Department of Education, National College, College, Network, Yale School of Management

Mortgage rates have been trending up this month in response to strong economic data. Most major forecasts expect mortgage rates to go down in 2024, but when they'll actually start dropping depends on the economy. Once the Fed starts lowering the federal funds rate, mortgage rates should start to come down, too. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: they'll, there's, Fannie Mae Organizations: Federal Reserve, Zillow, Mortgage, Association, ARM Locations: Chevron

If inflation remains near current levels or looks like it's ticking back up, mortgage rates could climb higher. Average 30-year mortgage rates rose 13 basis points to 6.77% this week, according to Freddie Mac. Once the Fed starts lowering its benchmark rate, the federal funds rate, mortgage rates are expected to go down as well. This means we might not see mortgage rates fall substantially until the second half of 2024. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, Price, you'll, Fannie Mae Organizations: of Labor Statistics, Federal Reserve, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Al Capone's Miami property is on the market for $23.9 million — but the house itself is gone
▼ + stars: | 2024-02-16 | by ( Gabbi Shaw | ) www.businessinsider.com time to read: +2 min

A 30,000-square-foot lot is for sale on Miami's exclusive Palm Island for $23.9 million. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . And now the land where his final home stood on Miami's exclusive Palm Island is for sale for a cool $23.9 million. Become Legendary/Dina GoldentayerThe property, which is listed by Douglas Elliman agent Dina Goldentayer, has 100 feet of water frontage and a view of downtown Miami. According to the listing, a house up to 15,000 square feet can be built on the property.

Persons: Al Capone, —, Dina Goldentayer, Douglas, Todd Glaser, Al, Capone, Mae Coughlin, Shaquille O'Neal, Gloria Estefan, Nick Nolte, Ana Gabriel Organizations: Service, Miami Herald, Miami Beach, Herald, Bettmann, Getty Locations: Miami, Al Capone's Miami, Palm

☆ Home Prices May Be Sky-High, but America Is Not in a Housing Bubble
▼ + stars: | 2024-02-14 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

The housing market, they claimed, was a bubble destined to burst. I’ve spent the past few years asking experts a simple question: Has the housing market reached bubble territory? AdvertisementFor a time, it seemed like the housing market was doing a speedrun through Simonsen’s checklist. And even if the economy does take a turn, a run-of-the-mill recession probably wouldn’t be enough to topple the housing market. The housing market is far from balanced, but we’re at least heading in that direction.

Persons: doomsayers, I’ve, Redfin, you’ve, you’ll, Mike Simonsen, megalandlords, ”, Ian Shepherdson, Goldman Sachs, Jerome Powell, Powell, Rick Palacios Jr, John Burns, ” doomsayers, might’ve, It’s, it’s, Logan Mohtashami, don’t, US homebuilders, “ It’s, ” Mohtashami, Selma Hepp, Fannie Mae, Palacios, ” Palacios, Mohtashami Organizations: Altos Research, Wall, John, John Burns Research, Consulting, Mortgage Bankers Association, Federal Reserve Bank of New, Federal Housing Finance Agency Locations: Charlotte, North Carolina, Austin, Las Vegas, Miami, Boise , Idaho, Dallas, Federal Reserve Bank of New York, US

Low-income mortgage borrowers could get a $2,500 homebuyer credit through Fannie Mae or Freddie Mac. Major mortgage investors Fannie Mae and Freddie Mac are temporarily offering a $2,500 credit to very low-income homebuyers to help offset their down payment and closing costs. The Fannie Mae credit is available through the company's HomeReady program, while people can get the Freddie Mac credit through its Home Possible program. Both Fannie Mae and Freddie Mac have tools that let you see the area median income in a given location. How the $2,500 credit worksIf you qualify for this credit, you'll get the $2,500 through your lender, which Fannie Mae or Freddie Mac later reimburses the lender when your loan is sold.

Persons: Fannie Mae, Freddie Mac, —, Freddie, Fannie Mae's, Freddie Mac's, it's, you'll, Fannie, Eileen Tu, Cyndi Danko, You'll Organizations: Service, Rocket Mortgage, National Council of State, Agencies

☆ Here's how to create a diversified bond portfolio with up to 6% yield, according to the pros
▼ + stars: | 2024-02-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

But in recent months, many have called for investors to return to bonds as prices are expected to recover soon. Falling yields may prompt investors to wonder which corners of the fixed income market still offer higher yields of up to 6%. He prefers developed market bonds — especially the U.S. — to emerging market bonds, of longer durations exceeding seven years. Emerging market debt can also offer high yield because of the very high real rates in many such economies, Olu-Pitan says, with Latin America debt offering "easily" above 7%. In investment-grade bonds, investors can get above 6% in U.S. financials, she added.

Persons: Brandon Huang, Huang, financials, Remi Olu, Fannie Mae, Freddie Mac, — CNBC's Michael Bloom Organizations: Treasury, LGT Private Banking Asia, CNBC Pro, Agency MBS, U.S ., MBS Locations: U.S, Australia

☆ Spring homebuying and selling season just kicked off. Are you ready?
▼ + stars: | 2024-02-11 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

So if you’re planning to be in the market this year, here’s what to expect this spring — and how to be ready to pounce. Don’t wait for better prices or ratesLast year was the least affordable housing market since the 1980’s as mortgage rates spiked to 23-year highs at the end of October. But a slightly brighter season is dawning this spring. This spring is offering a bit of rate and price stability said Betty Jans, an Annapolis, Maryland-based real estate agent. “If you wait, and all of the sudden we have a little dip in rates, you’re going to be competing with everyone else that wants to buy then, too,” Jans said.

Persons: it’s, Fannie Mae, Betty Jans, Tiffany Hagler, homebuyers, ”, Jans, Berkshire Hathaway, PenFed, ” Jans, “, Mike Mravca, Mravca, ” Mravca, “ I’ve, Hillary Nash, Nash, “ It’s, you’re Organizations: Washington CNN, NFL, Super, Geard, Bloomberg, Getty, Berkshire, Taylor Properties, NAR, District of Columbia, of Housing, Urban Development, National Housing Conference Locations: Annapolis , Maryland, Larchmont , New York, Virginia , Maryland, Delaware, Washington, Washington , DC, Maryland, Virginia

Fed officials have indicated they may cut rates at least three times this year, which should allow mortgage rates to decrease. Though mortgage rates aren't directly impacted by the Fed, investor expectations of how Fed changes will impact the overall economy can push mortgage rates up or down. Hopeful homebuyers waiting for lower rates may finally have some luck this summer — though those who wait until next year will likely see even lower rates. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

Persons: you'll, Fannie Mae Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ Cristóbal Del Sobar: Chilean golfer sets new PGA Tour record round
▼ + stars: | 2024-02-09 | by ( Jack Bantock | ) edition.cnn.com time to read: +2 min

CNN —Cristóbal del Solar wrote his name into the history books on Thursday, as the Chilean golfer shot a 13-under 57 at the Astara Golf Championship to set the new record for the lowest round ever shot at a PGA Tour-sanctioned event. Del Solar’s bogey-free feat bests the previous record set by Germany’s Stephan Jaeger and “Mr. “Incredible, man,” del Solar told reporters. “Hopefully, I’ll celebrate Sunday as well,” del Solar added. Last week, del Solar’s Chilean compatriot Joaquin Niemann shot a 12-under 59 at the LIV Golf season opener in Mayakoba, Mexico, carding an eagle and 10 birdies.

Persons: CNN —, Del Solar’s, Germany’s Stephan Jaeger, “ Mr, Jim Furyk, Ellie Mae Classic, ”, “, You’re, ’ “, Hector Vivas, Brian Campbell, Michael Johnson, Ireland’s David Carey, Joaquin Niemann Organizations: CNN, Florida State, Country Club de Bogotá, PGA, Paco, PGA Tour’s, Solar, LIV Locations: Chilean, Bogota, Colombia, Mayakoba, Mexico

☆ Mortgage payments have reverted back near all-time highs as the Fed delays rate cuts
▼ + stars: | 2024-02-08 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementRising mortgage rates are inflating mortgage payments, which are now roughly $110 under October's all-time peak, Redfin reported. With the 30-year fixed mortgage rate averaging 6.63% in the four weeks through January, the median monthly payment hit $2,607. As mortgage rates loosely follow interest levels, renewed signals that interest rates will stay higher for longer are instead leading to a mortgage rate rebound. Redfin expects mortgage rates to remain elevated near current levels until the Fed cuts interest rates, which may be months away from happening. "I'm advising buyers — especially first-timers — that the mortgage rates they see in the news aren't the be-all and end-all.

Persons: Redfin, —, Luis Rojas, hasn't, Rojas, Fannie Mae's Organizations: Service, Federal Reserve Locations: It's

☆ Americans are feeling the most optimistic about the mortgage market since the Fed started hiking rates
▼ + stars: | 2024-02-07 | by ( Aruni Soni | ) www.businessinsider.com time to read: +2 min

A Fannie Mae survey released Wednesday found that optimism around mortgage rates has hit a two-year high. "Mortgage rate optimism increased markedly again in January, with a survey-high percentage of consumers anticipating mortgage rate declines over the next year," Doug Duncan, Fannie Mae's chief economist, said. The slide arrives as the Fed mulls cutting interest rates in 2024 as inflation continues to decline. A previous report showed that Fannie Mae now expects mortgage rates to dip below 6% this year, a revision of their earlier forecast. According to Fannie Mae, 82% of consumers indicated in January that they are not concerned about losing their job in the next year, up from 75% last month.

Persons: —, Fannie Mae, Doug Duncan, Fannie Mae's, Freddie Mac, it's, Duncan, Fannie Organizations: Service, Federal Reserve, Business Locations: Fannie Mae's

Others are calling for larger foundations to help grantees if they are sued or are offering legal assistance themselves. The Council on Foundations, which supports philanthropic foundations and provides legal resources to its members to help them consider potential legal risks, submitted an amicus brief in the case supporting the Fearless Fund's First Amendment argument. “If you’re committed to DEI or race-conscious or race-based giving, you should not back down on your priorities. We’re funding homelessness or employment or the wealth gap,” she said as examples of changes in wording funders have made. The Black Freedom Fund, which was founded in 2021 to fund Black community organizations in California, has started a legal defense fund for its grantees for precisely that reason.

Persons: aren't, Fearless, Edward Blum, Blum, —, Searle, Sarah Scaife, Kathleen Enright, you’re, ”, John Palfrey, John D, Catherine T, Claudine Gay, Christopher Rufo, Bill Ackman, Gay, MacArthur, “, Mae Hong, Carmen Rojas, Marguerite Casey, Rojas, can’t, ” Rojas, Marc Philpart, ” Philpart, Hong, they’re, ” Hong Organizations: —, American Alliance for Equal Rights, Fair, Searle Freedom Trust, Sarah Scaife Foundation, Fidelity Investments, Donors Trust, National Philanthropic Trust, Foundations, MacArthur Foundation, Harvard University, Manhattan Institute, Harvard, Rockefeller Philanthropy Advisors, Blacks, Marguerite Casey Foundation, Freedom Fund, “, Lilly Endowment Inc, AP Locations: Black, California

Mortgage rates are expected to go down this year, but it may be a few months before we see them fall sustainably. Right now, average 30-year mortgage rates are up near last month's levels, when rates averaged around 6.34%, according to Zillow data. This means we could see mortgage rates start to trend down right as the homebuying season is heating up. See more mortgage rates on Zillow Real Estate on ZillowMortgage CalculatorUse our free mortgage calculator to see how today's mortgage rates will affect your monthly and long-term payments. This is good news for mortgage rates — as inflation slows and the Federal Reserve is able to start cutting the federal funds rate, mortgage rates are expected to trend down as well.

Persons: Jerome Powell, Powell, Fannie Mae Organizations: Investors, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

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