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Mortgage rates spiked dramatically this week, though they've calmed a bit over the past couple of days. Average 30-year mortgage rates are holding steady below 8%, but it's unclear if they could climb further and finally spike above this long-feared milestone. If it is, we could see mortgage rates recede a bit. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. This means your entire monthly mortgage payment, including taxes and insurance, shouldn't exceed 28% of your pre-tax monthly income.

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

Ever since the Fed started raising rates in early 2022, mortgage rates have skyrocketed. Average 15-year mortgage rates also inched up, and threaten to topple 7% for the first time in 23 years. 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. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.38%)The current average 30-year fixed mortgage rate is 7.72%, up 38 basis points since this time last week. 15-Year Fixed Mortgage Rates Up a Bit (+0.21%)The average 15-year mortgage rate is 6.77%, an increase from last week.

Persons: Freddie Mac, Jerome Powell, Powell, you'll, It's, refinance Organizations: Fed, Economic, of New, Zillow, FHA Locations: of New York, Chevron

High mortgage rates have sparked a renewed interest in adjustable-rate mortgages as borrowers try to carve out affordability in an increasingly unaffordable market. 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. 30-Year Fixed Mortgage RatesLast week's average 30-year fixed mortgage rate is 7.57%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.89% last week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: Joel Kan, you'll, Freddie Mac Organizations: Mortgage Bankers Association, ARM, Zillow, Federal Reserve Locations: Chevron

The 10-year Treasury yield, which mortgage rates typically follow, has been elevated this month, and it could reach 5%. This would remove a significant amount of upward pressure on mortgage rates and likely allow them to fall more substantially. 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. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.57%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.89% last week, an 11-point increase compared to the prior week, according to Freddie Mac data.

Persons: you'll, Freddie Mac Organizations: Treasury, Federal Reserve, Zillow Locations: Chevron

Mortgage rates are likely to stay at frightening levels even after the Halloween season is over. But we may finally see 30-year mortgage rates dip back below 7% next year, Fannie Mae says. "With ongoing affordability constraints and rising mortgage rates, much of that activity has essentially been given back. 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. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.89% last week, according to Freddie Mac data.

Persons: Fannie Mae, they've, Fannie Mae's, Doug Duncan, Freddie Mac, it's Organizations: Zillow Locations: Chevron

Average 30-year mortgage rates are down a bit compared to where they've been in recent weeks. Mortgage Rates TodayMortgage type Average rate today This information has been provided by Zillow. 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. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control.

Persons: they've, Fannie Mae Organizations: Zillow, Federal Reserve, Mortgage, Association, Sky, ARM Locations: Chevron

This will likely allow mortgage rates to fall. Average 30-year mortgage rates dropped a bit last week. See more mortgage rates on Zillow Real Estate on ZillowToday's refinance ratesMortgage type Average rate today This information has been provided by Zillow. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. 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, Mortgage Bankers Association, Zillow, Federal Reserve, Fed, Mortgage, Association, Sky Locations: Chevron

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. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Inch Down a Tiny Bit (-0.04%)The current average 30-year fixed mortgage rate is 7.45%, down four basis points since this time last week. 20-Year Fixed Mortgage Rates Tick Down (-0.03%)The average 20-year fixed mortgage rate is down just three basis points from last week and sits at 7.18%. 15-Year Fixed Mortgage Rates Essentially Flat (-0.01%)The average 15-year mortgage rate is 6.63%, a single basis point decrease from last week. Mortgage rates have been volatile so far in 2023, and they're higher than they were in October 2022.

Persons: they're, Patrick Harker, Harker, you'll, refinance Organizations: Federal Reserve, Philadelphia Fed, Delaware State Chamber of Commerce, Zillow, FHA Locations: Delaware, Chevron

However, the characteristics that members of this group generally displayed fall in line with common financial goals for many Americans who dream of retiring one day. They don't have consumer debtWealthy retirees in this study were the least likely to have credit card debt and auto loan debt, two common types of consumer debt. According to EBRI's research, only one in five wealthy retirees had auto loan and credit card debt. Compared to the average retiree, that's significantly less — in the average retiree category, about half had credit card debt, and about half had a car loan. The resulting number is a good estimate of how much you'll need to retire comfortably.

Persons: —, Robinhood, you'll Organizations: Security Research Center, Robinhood, Northwestern Mutual

☆ Prominent bankruptcy judge David Jones recused from cases, under investigation after exposure of undisclosed romantic relationship
▼ + stars: | 2023-10-13 | by ( Nicole Einbinder | Dakin Campbell | Esther Kaplan | ) www.businessinsider.com time to read: +7 min

Last week, Insider revealed that prominent bankruptcy judge David Jones was in a romantic relationship with a bankruptcy attorney. The Office of the US Trustee, the bankruptcy regulator, has filed an objection in the Corizon bankruptcy case, citing Jones' "admissions." The Office of the US Trustee intervenesToday the Office of the US Trustee, the federal regulator that oversees bankruptcy cases, took the unusual step of intervening in the bankruptcy case. AdvertisementAdvertisementThe office filed multiple objections to the proposed settlement plan overseen by Judge Jones, including concerns about Jones' role as mediator. The bankruptcy plan breaks creditors down into several classes.

Persons: David Jones, Jones, —, Elizabeth Freeman, Freeman, Corizon, Tehum, Michael Van Deelen, didn't, he'd, Harris, Marvin Isgur, Christopher Lopez, Lopez, Judge Jones, Hector Garcia Jr, Hector Garcia, they're, Lila Hassan Organizations: Fifth Circuit, Service, Southern, Southern District of, Court, Fifth, Tehum Care, Wall Street Journal, Houston, Corizon Locations: Southern District, Southern District of Texas, Texas, YesCare, New Mexico

The latest Freddie Mac data, which reflects average rates from last Thursday through Wednesday, showed that 30-year mortgage rates reached a new 23-year high of 7.57%. 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 were 6.89% last week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: Freddie Mac, you'll Organizations: of Labor Statistics, Reserve, Hamas, Zillow, Federal Reserve Locations: Chevron

Rates have finally trended down after 30-year mortgage rates spiked above 7.5% last week. 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. 30-year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.49%, according to Freddie Mac. 15-year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.78% last week, a six-point increase compared to the prior week, according to Freddie Mac data. But average 30-year fixed rates will likely remain somewhere in the 7% to 8% range in the near term.

Persons: Joel Kan, homebuyers, you'll, Freddie Mac Organizations: Mortgage Bankers Association, ARM, Zillow, Federal Reserve Locations: Chevron

However, as a financial professional and homeowner myself, I still see renting as a more conducive and efficient option to invest and build wealth. In this situation, the renter would have a higher return on investment, with $1.8 million compared to the homeowner with just $617,000. Even though the homeowner's payment stops once the mortgage is paid, the return on investment from just the down payment and maintenance expense favors the renter. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. Also, the homeowner still pays property taxes, which may increase over time, and still has to contend with annual maintenance.

Persons: it's, —, Joel Ohman, Jeffrey Zhou, doesn't, Get, Steven Gilbert, Gilbert, Says Ohman Organizations: Service, Gilbert Wealth, & $

If officials were to announce this ahead of their next meeting, this could indeed allow mortgage rates to cool off 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. 30-Year Fixed Mortgage RatesLast week, the average 30-year fixed mortgage rate was 7.49%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.78% last week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022.

Persons: they've, Freddie Mac, it's Organizations: Mortgage Bankers Association, National Association of Realtors, National Association of Home Builders, Federal Reserve, Zillow Locations: Chevron

Average 30-year mortgage rates remain around a half a percentage point higher than they were a month ago. Mortgage rates have increased dramatically this year, and they'll likely remain elevated for the remainder of 2023. 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. Sky high mortgage rates have pushed many hopeful buyers out of the market, slowing homebuying demand and putting downward pressure on home prices.

Persons: Fannie Mae's, homebuyers, Fannie Mae Organizations: Federal Reserve, Mortgage, Zillow, Association, Sky, ARM Locations: Chevron

We're tracking all the best Prime Day deals, and during this event generators are up to 40% off, so there's no better time to buy. Great generator deals on Prime DaySee more generator deals at Amazon. Portable generators vs. whole-house generators: What's the difference? A portable generator is generally much cheaper than a whole-house generator, with prices starting as low as $500. We're seeing rare discounts on power generators during Prime Day that won't last long.

Persons: Anker, you'll Organizations: Amazon, Westinghouse, Power, Honda, Briggs, Stratton

☆ A couple spent 6 years renovating a 100-year-old Iowa school into a modern home that's now on sale for $1.7 million — take a look inside
▼ + stars: | 2023-10-10 | by ( Melissa Wells | ) www.businessinsider.com time to read: +1 min

The home, which is on sale for $1.7 million, sits on 3 acres of land in the Iowa countryside. It has floor-to-ceiling windows, a refurbished ballroom, and a workshop in the former gymnasium. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. "It's not replaceable — you can't go to another house and find exposed masonry walls or 16-foot floor-to-ceiling windows," he told Insider. Take a look inside this unique, all-brick luxury residence.

Persons: —, Luke Jensen, Dean, Dianne Jensen Organizations: Service Locations: Iowa, Ames

Mortgage rates spiked quite a bit last week, with 30-year mortgage rates reaching a high of 7.58%, according to Zillow data. When mortgage rates will fall largely hinges on inflation, and this week's CPI data will give us the latest look at how prices are trending. But right now, experts generally expect that inflation will continue to slow, allowing mortgage rates to trend down throughout 2024. But whether mortgage rates will drop in 2023 hinges on if the Federal Reserve can get inflation under control. 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: Labor Statistics, Federal Reserve, Zillow, Fed, Mortgage, Association, Sky Locations: Chevron

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. Mortgage Rates for Buying a Home30-Year Fixed Mortgage Rates Increase (+0.17%)The current average 30-year fixed mortgage rate is 7.49%, up 17 basis points since this time last week. 20-Year Fixed Mortgage Rates Go Up (+0.37%)The average 20-year fixed mortgage rate is up 37 basis points from last week and sits at 7.21%. 15-Year Fixed Mortgage Rates Tick Up a Bit (+0.11%)The average 15-year mortgage rate is 6.64%, an 11-basis-point increase from last week. Mortgage rates have been volatile so far in 2023, and they're higher than they were in September 2022.

Persons: you'll, It's, refinance Organizations: Federal Reserve, Zillow, FHA Locations: Chevron

☆ A couple bought a 1940s house owned by a family of hoarders. They have 6 months to empty it and make it livable.
▼ + stars: | 2023-10-07 | by ( Samantha Grindell | Monica Humphries | ) www.businessinsider.com time to read: +11 min

Katie and David WolfordBut to Katie, 33, and David, 34, it was their future. AdvertisementAdvertisement"There was just no world at this point, three years in the making, where we did not get that house," Katie said. Katie and David Wolford"With all that stuff, you can't really see what is actually built into the house," Katie said. The previous owners had built an upstairs sunroom, which caused major water damage. We feel so connected to this house," Katie said.

Persons: Katie, David Wolford, David, —, Mold, they're, they'd, David Wolford Katie, that's, they've, what's, we've Organizations: Service, YouTube Locations: strolls, Portland , Oregon

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. 30-Year Fixed Mortgage RatesThis week's average 30-year fixed mortgage rate is 7.49%, according to Freddie Mac. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates are 6.78% this week, according to Freddie Mac data. Mortgage rates increased dramatically in 2022 and have been volatile so far in 2023, but they're expected to trend down later this year.

Persons: we're, they'll, you'll, Freddie Mac Organizations: of Labor Statistics, Federal Reserve, Fed, Zillow Locations: Chevron

☆ A 35-year-old real estate investor who bought more than 200 properties using none of his own money shares 5 adjustments investors can make to keep thriving amid the highest mortgage rates in decades
▼ + stars: | 2023-10-07 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

In the past, he recommended investors aim for a positive cash flow of $300 to $500 a month. The new normal could be a monthly cash flow of $100 to $200. Depending on a local bank's risk tolerance, growth strategy, and strength of their books, they can offer competitive rates, Primm said. A few units reserved for mid-terms that are furnished are renting for $2,250 a month: that's a 125% increase in cash flow, he noted. "But if there's enough people and there's enough concentration, there's going to be a fire, there's going to be a tornado, there's going to be something happening all the time."

Persons: it's, Sam Primm, who's, there's, Primm, Lucas Walls, Lucas, arbitrageurs Organizations: Primm, Faster Locations: refinance, St, Louis , Missouri, Primm

☆ Ariana Grande and Dalton Gomez's relationship timeline, from dating to marriage and their divorce
▼ + stars: | 2023-10-07 | by ( Callie Ahlgrim | Eve Crosbie | ) www.businessinsider.com time to read: +18 min

June 25, 2020: Grande posted her first selfie with GomezGrande posted this photo on June 25. June 26, 2020: Grande shared two photos with Gomez at her 'Midsommar'-themed birthday partyGrande posted these photos on June 26. July 16, 2023: Grande fueled divorce rumors when she appeared in public without her wedding ringJonathan Bailey, Ariana Grande, and Andrew Garfield attend the Wimbledon 2023 men's final. Then, on July 16, 2023, Grande attended a Wimbledon match with her "Wicked" costar Jonathan Bailey. AdvertisementSeptember 18, 2023: Grande and Gomez simultaneously filed for divorceTMZ broke the news that Grande had officially filed for divorce from Gomez, citing "irreconcilable differences."

Persons: —, Ariana Grande, Dalton Gomez, Here's, Grande, Gomez, Pete Davidson, Instagram, Courtney Chipolone, Scott Nicholson, Njomza, Dakota Gomez, Scooter Braun, TMZ, they'd, YouTube Grande, Justin Bieber, Bieber, Hailey Bieber, née Baldwin, Instagram Grande, Lady Gaga, Los Angeles Doug Middlebrook, Doug Middlebrook, Gomez Grande, she'd, quarantining, Davidson, Ariana, Leon Thomas III, cowriter Tayla Parx, Gomez doesn't, @throwbackagb, Grande's, Ari, Dalton, couldn't, Vogue, Jonathan Bailey, Andrew Garfield, Karwai Tang, Jon Chu's, Ethan Slater, SpongeBob, Kevin Mazur, Jenny Anderson, Michelle Yeoh's Oscar, Slater, Lilly Jay Slater, They've, Jim Carrey, Kate Winslet, I've, Zach Sang Organizations: Service, Business, Party, YouTube, Children's, Los Angeles Times, LA Times, Grande, Twitter, Wimbledon, TMZ, Instagram, Los Locations: Northridge, California, Grande's, Saddle, West Hollywood, USA, Los Angeles, Instagram, Montecito , California, Hollywood Hills, Ariana Grande, Grande, England, London

Mortgage rates have started October significantly higher than they were a month ago. Last week, mortgage applications for home purchases dropped to their lowest level since 1995, the Mortgage Bankers Association reported on Wednesday. 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. 30-year Fixed Mortgage RatesThis week, the average 30-year fixed mortgage rate is 7.49%, according to Freddie Mac. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased over three percentage points in 2022.

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

Mortgage rates have skyrocketed this week, with 30-year mortgage rates now well above 7% for many borrowers. 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. 15-Year Fixed Mortgage RatesAverage 15-year mortgage rates were 6.72% this week, according to Freddie Mac data. Mortgage rates started ticking up from historic lows in the second half of 2021 and increased significantly in 2022.

Persons: homebuyers, Freddie Mac, it's Organizations: Zillow Locations: Chevron

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