Author: badmortgage
Bonds rallied modestly in the overnight session after Trump said the US may exit the war soon. Those gains have been more than erased (just barely) after this morning’s data. Both ADP and Retail Sales were stronger than expected although it should be noted that Retail Sales is for the month of February in this case. New Trump headlines also added to the pull-back as he declined to give a timeline on an Iran exit. As of 9:30am ET, MBS were just a hair weaker than unchanged and 10yr yields were up 1.3bps at 4.327. ISM Manufacturing remains on deck…
SOME CARD INFO MAY BE OUTDATED This page includes information about these cards, currently unavailable on NerdWallet. The information has been collected by NerdWallet and has not been provided or reviewed by the card issuer. Lower mortgage rates? For spring? Groundbreaking. It’s not an April Fools’ joke — the average interest rate on a 30-year, fixed-rate mortgage fell to 6.3% APR, according to rates provided to NerdWallet by Zillow. This is 14 basis points lower than yesterday and four basis points lower than a week ago. (See our chart below for more specifics.) A basis point is one one-hundredth of…
US mortgage rates climbed for a fourth straight week, rising to the highest since August and denting refinancing and home purchase activity. Processing ContentThe contract rate on a 30-year mortgage increased 14 basis points to 6.57% in the week ended March 27, according to Mortgage Bankers Association data released Wednesday. In the last four weeks, the rate has surged nearly half a percentage point, the biggest advance since 2024.READ MORE: Some markets thawing in time for spring homebuying seasonThe group’s index of mortgage applications for home purchases fell for a second week, while a measure of refinancing tumbled another 17.3%.Mortgage rates, which…
“The 30-year mortgage rate, now at 6.57%, reached its highest level since last August and is up half a percentage point from just one month ago. Refinance application volumes declined sharply again last week, dropping 17%, and are down more than 40% compared to last month,” said Mike Fratantoni, MBA’s senior vice president and chief economist. “Seasonally adjusted purchase application volume also declined over the week, but only by 3%,” he added. “The headwinds of higher rates are being offset somewhat by the buyer’s market in many parts of the country – there are more homes for sale than buyers…
Key Takeaways A home equity investment (HEI) lets retirees convert home equity into cash without monthly payments, interest, or new debt. Qualification focuses on your home’s equity and value rather than income or credit score, making HEIs accessible to many retirees. The tradeoff is sharing a portion of your home’s future appreciation with the investor, which can result in a higher total cost than traditional loans. Explore your home equity options. Start here Your home equity might be your largest retirement asset, but traditional ways to access it often come with monthly payments you can’t afford or qualification requirements you…
Key Takeaways The lowest home equity loan rates right now fall between 5.25% and 6.50% for borrowers with excellent credit, while most homeowners see rates in the 7% to 8% range. Credit unions and regional banks often beat large national lenders by 0.25% to 0.75%, so comparing at least three to five offers can save you thousands. Your credit score, loan-to-value ratio, and debt-to-income ratio determine whether you qualify for the best rates available. Compare home equity lenders now Home equity loan rates vary widely, and the difference between the lowest and highest offers can cost you thousands of dollars…
The interest rate on the most popular U.S. home loan jumped last week to the highest since August, as rising oil prices from the U.S. and Israeli war on Iran fueled inflation fears and drove up yields on the Treasury bonds that lenders widely use as benchmarks for setting mortgage rates.
Homes in Pacifica, California, US, on Monday, March 23, 2026. David Paul Morris | Bloomberg | Getty ImagesMortgage rates moved even higher again last week, as the war with Iran continues to stoke fears of inflation. As a result, total mortgage application volume fell again, down 10.4% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances, $832,750 or less, increased to 6.57% from 6.43%, with points remaining unchanged at 0.65, including the origination fee, for loans with a 20% down payment.Applications to refinance…
Key Takeaways Most lenders require a debt-to-income ratio below 43% and a credit score between 620 and 640 for home equity loan approval. Some may accept a higher DTI if you present strong compensating factors. Lenders include your new home equity loan payment when calculating your DTI. Be sure to account for this payment before applying. In addition to DTI and credit score, you generally need at least 15% to 20% home equity, verifiable income, and a history of on-time payments to qualify. Explore your home equity loan options. Start here Lenders focus primarily on your debt-to-income ratio and credit…
Key Takeaways You can sell your house even if you have a HELOC. At closing, the remaining balance is paid off with your sale proceeds. The title company handles paying off your HELOC, ensuring your lender is paid before you receive your share of the sale proceeds. Ask your HELOC lender for a payoff statement early, as it may take 10 to 15 business days to get it. Even if unused, a HELOC places a lien on your home and must be formally closed when you sell. Explore your HELOC options. Start here You’ve built equity in your home and…