Rates for home loans fell, a boon for buyers in a brightening housing market.
Rates for home loans slid to two-month lows, in line with the broader bond market, even as all eyes are trained on the housing market for signs of how the crucial spring selling season will shape up.
The 30-year, fixed-rate mortgage averaged 4.07% in the May 16 week, Freddie Mac said Thursday, down three basis points. It was the third straight weekly decline for the popular product, and put it back at its second-lowest level of 2019. The 15-year fixed-rate mortgage averaged 3.53%, down from 3.57%. The 5-year Treasury-indexed hurbrid adjustable-rate mortgage averaged 3.66%, up three basis points.Fixed-rate mortgages follow the path of the benchmark U.S. 10-year Treasury note TMUBMUSD10Y, +1.30% , which has rallied as investors pulled money out of stocks. As demand — and prices — rise, yields decline.
New construction still represents only about one-tenth of the housing market, though. The National Association of Realtors will report on April sales of previously-owned homes next week. One early read came last week from Glenn Kelman, CEO of Redfin Corp. RDFN, +0.17% , on a call to discuss company earnings.
“This acceleration in revenue and traffic is part of a broader trend fueled only partly by an improving housing market,” Kelman said. “At times in March and April, we’ve had as much demand as we can handle both in parts of our brokerage and in every one of our new businesses.”Andrea Riquier Andrea Riquier reports on housing and banking from MarketWatch's New York newsroom. Follow her on Twitter @ARiquier.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Mortgage applications slightly lower despite three weeks of falling ratesMortgage hunters were not particularly impressed with the latest drop in interest rates. Mortgage application volume dropped 0.6% last week from the previous week, according to the Mortgage Bankers Association.
Weiterlesen »
Australia's big banks search for new customers with cut price fixed loansAustralia and New Zealand Banking Group cut fixed mortgage rates on Friday, the ...
Weiterlesen »
Tariff tumult boosts view that Fed may cut U.S. ratesU.S. President Donald Trump's decision to jack up tariffs on goods from Chi...
Weiterlesen »
Michigan Lawmakers Try to Tackle Car-Insurance RatesMichigan is moving closer to fixing a problem that has dogged the state for years: how to lower its highest-in-the-nation auto-insurance rates.
Weiterlesen »
Student Loan Rates Will Drop 10% This SummerStudent loan rates are decreasing. Here's what it means for you:
Weiterlesen »
U.S. Births Fall to Lowest Rates Since 1980sThe number of babies born in the U.S. last year fell to a 32-year low, deepening a fertility slump that is reshaping America’s future workforce. About 3.79 million babies were born in the U.S. in 2018, according to provisional data from the Centers for Disease Control and Prevention’s National Center for Health Statistics.
Weiterlesen »
Trump vs. the Fed: What it means for your moneyIn the ongoing battle between President Donald Trump and the Federal Reserve over interest rates, it's consumers that are caught in the middle.
Weiterlesen »
Federal Student Loan Interest Rates Decrease For New Borrowers In 2019 - 2020U.S. Department of Education cuts Federal student loan interest rates for 2019-2020 borrowers by upwards of 10%.
Weiterlesen »
Regional bank in Japan battles ultra-low rates with wine bar, sea urchinsAs years of near-zero interest rates in Japan make traditional lending barely pr...
Weiterlesen »
Sanders, Ocasio-Cortez team up in bid to cap credit card ratesSen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez joined forces on a proposal to cap the interest rates consumers pay for credit cards and other loans
Weiterlesen »