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☆ 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

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

☆ 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

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

Borrowers saw mortgage rates drop dramatically late last year, and experts have been calling for rates to go down this year as well. Mortgage rates are expected to fall this year once the Federal Reserve starts lowering the federal funds rate. The longer the Fed waits to start cutting rates, the longer borrowers will likely have to wait for lower mortgage 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: of Labor Statistics, Federal Reserve, Fed, Zillow, Mortgage, Association, Sky Locations: Chevron

☆ A soft landing is now likely. But Americans will still deal with unaffordable housing
▼ + stars: | 2024-02-04 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

In a letter days before the Fed’s decision Wednesday to hold interest rates steady at a 23-year high, Democratic US senators blasted the central bank for America’s housing woes. In 2021 when the Fed’s key interest rate was near zero, home-price growth soared at a historic double-digit pace, according to the S&P CoreLogic Case-Shiller National Home Price Index. Divounguy said that the average 30-year fixed mortgage rate will likely not fall below 6% this year. That way we can actually start heading in the right direction with affordability and have that be sustainable and not just a short-term interest rate phenomenon,” she said. Richmond Fed President Thomas Barkin delivers remarks.

Persons: Valerie Plesch, Orphe Divounguy, Freddie Mac, it’s, Fannie Mae, Divounguy, ” Daryl Fairweather, Trump, Jerome Powell, Donald Trump, Powell, David Goldman, Alexandra Ross, ” Trump, Maria Bartiromo, Joe Biden, Estee Lauder, Tyson, Raphael Bostic, Eli Lilly, Loretta Mester, Walt Disney, Adriana Kugler, Thomas Barkin, Michelle Bowman, Ralph Lauren, Armour Organizations: CNN Business, Bell, DC CNN, Federal Reserve, Democratic, Eccles Federal Reserve, Bloomberg, Getty, CNN, National Association of Realtors, Fox Business, Bureau of Labor Statistics, Trump, Fed, Caterpillar, Tyson Foods, P Global, Institute for Supply Management, Atlanta Fed, Toyota, UBS AG, Chipotle, Cleveland Fed, Walt, CVS, PayPal, Brands, Fox, The Carlyle, News Corporation, New York Times Company, Mattel, Spirit Airlines, US Commerce Department, China’s National Bureau of Statistics, ConocoPhillips, Unilever, Duke Energy, Expedia, Warner Music Group, Tenet Healthcare, Richmond Fed, Pepsico, Honda Locations: Washington, Washington , DC, CAVA

While mortgage rates are expected to go down in 2024, we'll likely experience some volatility getting there. Experts believe mortgage rates will fall as inflation continues to slow and the Federal Reserve is able to start cutting the federal funds rate, removing upward pressure off of mortgage rates. 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 interest rates will affect your monthly payments. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates inched down to 5.94% last week, according to Freddie Mac data.

Persons: we'll, Fannie Mae, Mark Palim, you'll, Freddie Mac, it's, they've Organizations: Federal Reserve, Fed, Zillow Locations: Chevron

☆ An affordability crisis is making some young Americans give up on ever owning a home
▼ + stars: | 2024-02-03 | by ( Bryan Mena | ) edition.cnn.com time to read: +9 min

Washington, DC CNN —Americans are living through the toughest housing market in a generation and, for some young people, the quintessential dream of owning a home is slipping away. Mortgage rates surged in recent years, hitting the highest levels in more than two decades last fall. CNN spoke with some young Americans about their thoughts on the current state of the US housing market and their plans for the future. “The housing market is not a single person’s market.”What typically happens when a regional housing market becomes too unaffordable is that people without the means simply move somewhere cheaper, such as a suburb an hour away, for example. Still, affordability takes into account mortgage rates, family incomes and single-family home prices, which remain a vexing pain point.

Persons: It’s, Baby, Brandie Grant, Grant, ”, “, ” Brandie Grant, Brandie, Ross, Emily Bunton, Ross Bunton, That’s, ” Bunton, I’m, Corey Griffis, ’, hasn’t, ” Griffis, Shyahm Aguilar, Shyahm Aguilar Shyahm Aguilar, Aguilar, we’ve, ” Aguilar, that’s, there’s, Fannie Mae’s, ” Mark Palim, Fannie Mae, Mario Tama, Daryl Fairweather, Redfin’s, Sofiya Vyshnevska, Vyshnevska, “ Young Organizations: DC CNN, Baby Boomers, CNN, San Francisco Bay Area, National Association of Realtors, Housing Administration, Montana State University, Federal, Housing Survey, “, NAR Locations: Washington, San Francisco Bay, United States, St, Louis , Missouri, Portland , Oregon, Mexico, Santa Fe , New Mexico, Santa Fe, Merida, Colorado, Phoenix, Queen Creek , Arizona, Minneapolis, Houston, Dallas, Austin , Texas, Tampa, Jacksonville, Orlando, Florida, Atlanta

☆ In South America, African-Inspired Religions Gain More Followers
▼ + stars: | 2024-02-03 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +5 min

Followers of African-based religions are on the rise in South America new data shows, a reflection of how the region's African heritage is gaining a greater voice beyond Brazil where such traditions are widely recognized. Surveys on religious beliefs in Argentina and Uruguay point to a rising number of people who identify with African-inspired faiths. Over 2% of Uruguayans identify as followers of African-inspired faiths like Umbanda. Oral histories and traditions associated with the African-based religions have long been misunderstood or demonized as "witchcraft," she said. "We've made strides in terms of the laws around practicing our religion, that in theory protect against discrimination," she said.

Persons: Lucinda Elliott, Mother Susana Andrade, Mae Susana de Oxum, Sasha Curti, Ramirez, Curti, Candomblé, Yemanjá, WE'VE, Victoria Sotelo, Greta Pena, stigmatization, Andrade, We've, Aurora Ellis, David Gregorio Organizations: Uruguayan, Federation of, University of the, Diaspora, Argentina's National Institute Locations: Candelaria Grimberg MONTEVIDEO, Africa, Federation of Uruguay, South America, Brazil, Argentina, Uruguay, Montevideo, Uruguayan, University of the Republic, Argentine, Paraguay, European Argentina, Candelaria, Buenos Aires

But borrowing money always comes with some risks, and home renovation loans can be particularly risky when used to purchase a fixer upper. Renovation loan eligibilityTo get a loan for a house renovation, you'll need to meet certain credit requirements. Cash-out refinances or renovation loans rolled into mortgages are typically the best renovation loan programs because they come with the lowest rates. Home renovation loans FAQsAre renovation loans a good idea? Renovation loans, or home improvement loans, can be a good idea for homeowners looking to make both essential and cosmetic changes to their homes.

Persons: —, It's, Fannie Mae's, Freddie Mac's, you'll, Douglas Boneparth Organizations: Service, Federal Housing Administration, Bone, reno, Chevron

☆ FAFSA delays likely to slow college decisions. 'It's a real mess,' expert says. Here's what to do if your financial aid letter is late
▼ + stars: | 2024-02-01 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

For most students and their families, which college they will choose hinges on the amount of financial aid offered and the breakdown between grants, scholarships, work-study opportunities and student loans. This year, schools are now waiting on that FAFSA information to begin building financial aid packages and to give students and families enough time to weigh their options. "The delay in sending FAFSA data to colleges will cause college financial aid offers to be delayed until at least April, maybe even May." "Making an offer of admission without offering a full financial aid offer really isn't useful for most families," said Adam Miller, vice president for admission and financial aid at Whitman College in Walla Walla, Washington. To do this, Whitman and other colleges would need to leverage the information families provided in their completed CSS Profile.

Persons: Mark, Mark Kantrowitz, Adam Miller, Whitman, Miller, Rick Castellano, Sallie Mae, Castellano Organizations: National College, Whitman College, College Board, Decision Locations: Walla Walla , Washington

☆ The Fed pushed back against imminent rate cuts this week. Here's what that means for the housing market.
▼ + stars: | 2024-02-01 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

More importantly, though was Federal Reserve Chair Jerome Powell's pushback against the idea that rate cuts are imminent. So, what does this mean for the housing market, which is eagerly anticipating lower rates to make housing even slightly more affordable? According to Redfin, pushing out timelines for Fed rate cuts means mortgage rates are likely to remain elevated for longer this year, but it doesn't mean relief is off the table for homebuyers in 2024. "Regardless of any short-term volatility in mortgage rates, we expect rates to come down gradually throughout the year," Redfin's Chen Zhao wrote following the Fed meeting. AdvertisementThe real estate group notes that other forces are at work in the mortgage market as well, and the Fed isn't the only input.

Persons: —, Jerome Powell's pushback, Redfin's Chen Zhao, Redfin, we'll, Powell, Fannie Mae Organizations: Service, Reserve, Business, US Department of, Treasury, Bank of America

As the Fed starts lowering the federal funds rate, mortgage rates are expected to go down throughout 2024. But the longer it takes for the Fed to cut, the longer we'll have to wait for lower mortgage rates. 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. 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: Federal, Fed, Zillow, Federal Reserve, Mortgage, Association, ARM Locations: Chevron

☆ Federal Reserve holds interest rates steady, sets the stage for cuts. What that means for your money
▼ + stars: | 2024-01-31 | by ( Jessica Dickler | ) www.cnbc.com time to read: +3 min

Greg McBride chief financial analyst at Bankrate"Below the surface, 60% of households are living paycheck to paycheck," McBride said. Now, with rate cuts on the horizon, consumers will see some of their borrowing costs come down as well, although deposit rates will also follow suit. From credit cards and mortgage rates to auto loans and savings accounts, here's a look at where those rates could go in the year ahead. Going forward, annual percentage rates will start to come down when the Fed cuts rates but even then, they will only ease off extremely high levels. Mortgage ratesDue to higher mortgage rates, 2023 was the least affordable homebuying year in at least 11 years, according to a report from real estate company Redfin.

Persons: Greg McBride, McBride, Doug Duncan, Fannie Mae, It's, Jessica Caldwell, Edmunds Organizations: Treasury, Fed Locations: Edmunds

So far this month, mortgage rates have been relatively steady. According to Zillow data, average 30-year mortgage rates have been around 6.34% in January, which is just slightly down from the previous month's average. The sooner the Fed cuts rates, the sooner mortgage rates can come 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. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

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

Average 30-year mortgage rates increased to 6.69% this week, according to Freddie Mac, a nine-point increase from the previous week's average. On a $250,000 mortgage, this would amount to a $1,798 monthly mortgage payment. 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. 30-Year Fixed Mortgage RatesThe average 30-year fixed mortgage rate was 6.69% last week, according to Freddie Mac. Now that the Fed has paused hiking rates, mortgage rates have come down a bit.

Persons: Freddie Mac, Sam Khater, Freddie Mac's, Fannie Mae Organizations: Zillow, Federal Reserve, Fed Locations: Chevron

☆ More Tenants Can Now Add Rent Payments to Their Credit Score
▼ + stars: | 2024-01-26 | by ( Ann Carrns | ) www.nytimes.com time to read: +2 min

As it stands, few landlords routinely report rent payments to credit bureaus. (Negative rent information can end up in credit files if a landlord reports delinquent accounts or sends them to a collection agency.) But in recent years, policymakers have been exploring whether consumers can benefit from having on-time rent payments included in credit scores, just as payments for mortgages, car loans and credit cards are. Reporting on-time rent payments is viewed as a way to reduce disparities in homeownership. TransUnion has been able to include rent payments in its credit reports since 2016 and has seen increasing interest from property managers, said Maitri Johnson, vice president of tenant and employment screening at the credit bureau.

Persons: isn’t, Fannie Mae, TransUnion, Maitri Johnson, Johnson Organizations: Self Financial, Urban Institute Locations: homeownership

But barring any surprises in the latest economic data, mortgage rates shouldn't spike back up too high. This would remove a lot of upward pressure off of mortgage rates and finally allow them to fall. If the Fed suggests a cut is coming sooner rather than later, mortgage rates could trend back down a bit. 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: We'll, we'll, Fannie Mae Organizations: Federal Reserve, Fed, Zillow, Mortgage, Association, ARM Locations: Chevron

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