Author: badmortgage

Just before the start of fighting in the Middle East, mortgage rates had dropped to their lowest level since 2022, with the 30-year rate at 5.98% on Feb. 26, Freddie Mac data show.

More than 10,000 veterans lost their homes to foreclosure since May of last year, when the Trump administration shut down a key safety-net in the VA home loan program, according to the latest industry data. That is the highest pace of foreclosures for VA loans in a decade. Another 90,000 vets are heading towards foreclosure. This comes after a years-long debacle inside the VA has whiplashed thousands of vets between various enacted and cancelled programs and left many of them on the brink of losing their homes — often through no fault of their own. A loan backed by the…

There are new student loan borrowing limits for parents of students and graduate students A Biden-era loan repayment program is out, new repayment plans to start soon Michigan offers student loan webinars to make sense of changes It’s the time of year when Michigan high schoolers commit to the colleges they plan to attend. For many, that means signing up for a federal student loan, and several changes are coming that will affect not just future student loan borrowers, but those already in debt.  Michigan residents have $51.6 billion in federal student loan debt, according to a 2025 estimate from…

30-year mortgage rates rise for the fifth straight week – Scotsman Guide Skip to content error: Content is protected !! This website uses cookies to enhance user experience and to analyze performance and traffic on our website. We may also share information about your use of our site with our social media, advertising and analytics partners. Not consenting or withdrawing consent, may adversely affect certain features and functions. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the…

© Contributor / iStock / Getty Images Mortgage rates are climbing again after briefly dipping below 6% about a month ago. Even so, rates remain lower than this time last year—still offering some relief to buyers searching for greater affordability.But uncertainty may be weighing on demand. Mortgage applications for home purchases—a key indicator of future buying activity—have lost the double-digit annual gains seen earlier this year. In the latest week, purchase applications rose just 1% year-over-year and fell 3% from the previous week, according to the Mortgage Bankers Association.The 30-year fixed-rate mortgage averaged 6.46% this week, according to Freddie Mac.“Purchase…

Mortgage rates have increased for five consecutive weeks, sidelining potential buyers in the middle of the spring homebuying season.Processing ContentThe 30-year fixed-rate mortgage hit 6.46% this week, an eight-basis-point jump from last week’s 6.38% and the highest mark since early September, according to the Freddie Mac Primary Mortgage Market Survey. The 30-year rate is up 46 basis points month over month, but still down from 6.64% the same week last year.The 15-year FRM saw a slight uptick from 5.75% to 5.77% this week after a 21-basis-point spike last week. This compares with 5.82% from a year ago. “With spring homebuying…

Many Americans are feeling the pinch of higher prices: Gas prices reached an average of $4.01 per gallon at the end of March, while mortgage delinquencies jumped and student loan delinquencies remained at historic highs.While using any emergency savings you have first is recommended, that’s not always an option. After all, 45% of Americans have less than $1,000 saved.When you’re short on cash but still have bills due, you might have to get creative on where to find extra funds. Consider these four moves to cover your needs in a pinch. Where to get money in a pinchTalk to usWe…

Committee Ranking Members argue that the scheme “will set the stage for more dysfunction in a federal student aid system that the Trump Administration has already made more expensive and confusing to navigate” Washington, D.C. – U.S. Senators Patty Murray (D-WA), Elizabeth Warren (D-MA), Bernie Sanders (I-VT), Ron Wyden (D-OR), and Tammy Baldwin (D-WI) pressed Secretary of Education Linda McMahon and Secretary of the Treasury Scott Bessent to rescind their plans to move the administration of federal student loans to the Treasury Department (Treasury), the latest move in the Trump administration’s attempts to dismantle the Department of Education (ED). The…

Baby boomers whose kids live elsewhere own about 28% of the nation’s large homes while millennial parents — who own about 16% — struggle for a slice of the pie.Even though their kids have flown the coop, many of the nation’s older generation homeowners have for years been reluctant to give up their space — a trend that new data indicates has continued.Lopsided scales: Empty nest baby boomers now own nearly 28% of large homes — defined by Redfin in a recent report as homes with at least three bedrooms — while millennials with kids own just under 16% and…