Mortgages

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December Mortgage Outlook: A Gift of Stability
Mortgage interest rates are likely to remain about the same in December, with the 30-year fixed-rate home loan staying between 6.75% and 7%.Except for some volatility during the week after the election, mortgage rates were fairly steady in November, as economic indicators didn't pull any surprises. The inflation rate landed within expectations. The Federal Reserve...
December Mortgage Outlook: A Gift of Stability
Mortgage interest rates are likely to remain about the same in December, with the 30-year fixed-rate home loan staying between 6.75% and 7%.Except for some volatility during the week after the election, mortgage rates were fairly steady in November, as economic indicators didn't pull any surprises. The inflation rate landed within expectations. The Federal Reserve...
Weekly Mortgage Rates Rise, But Long Term Expectations Are Lower
Though mortgage interest rates rose this past week, the relatively small increase may be a sign things are settling down. After a surprisingly strong Oct. 4 jobs report drove rates rapidly upward, interest rates are beginning to normalize. In the week ending Oct. 17, the average 30-year fixed-rate mortgage rate rose six basis points, averaging...
November Mortgage Outlook: Rates Wait on Election Result
While presidential ballots are being tallied and argued about, mortgage rates tend to sit still and wait. So rates are unlikely to move much in November until the result of this year's presidential election is clear and broadly accepted — even if it takes time to reach a consensus.The elections of 2000 and 2020 offer...
Weekly Mortgage Rates Dip as Inflation Heats Up
Mortgage rates fell slightly in the week ending Nov. 14, marking the first time weekly rates have gone down since September. The average rate on a 30-year fixed-rate mortgage dropped seven basis points to 6.79%, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point.Housing costs are...
Home Sellers and Buyers: What You Must Know for 2025
The year promises a mix of good and harsh news.The good news: Buyers will have more properties to choose from. Home prices won't skyrocket. Mortgage rates might drop, to the relief of buyers and some sellers.The harsh news: Even if mortgage rates fall, they probably won't decline much. That will restrict affordability for buyers, and...
Weekly Mortgage Rates Rise as Buyers Await a Drop
After faltering last week, mortgage interest rates resumed the upward path they've been on since late September. The week ending Nov. 21, the average rate on the 30-year fixed-rate mortgage climbed nine basis points to 6.88%, according to rates provided to NerdWallet by Zillow. A basis point is one-one hundredth of a percentage point. Mortgage...
November Mortgage Outlook: Rates Wait on Election Result
While presidential ballots are being tallied and argued about, mortgage rates tend to sit still and wait. So rates are unlikely to move much in November until the result of this year's presidential election is clear and broadly accepted — even if it takes time to reach a consensus.The elections of 2000 and 2020 offer...
Remodel or Move? How to Decide
After four years of living in her home in Athens, Georgia, experienced house flipper Charissa Bright realized she needed more space and an updated layout for herself, her husband and their two teenage boys. It was 2021, and working from home meant that her own office was a priority, along with some wishlist items like...
Weekly Mortgage Rates Rebound, But Larger Trend Could Shift Market
It can be extremely frustrating to track mortgage interest rates closely. Daily and even weekly, you'll see dramatic dips and jumps. But zoom out and that instability disappears into the larger overall trend. That's very evident this week, as the 30-year fixed-rate mortgage rate jumped 27 basis points, averaging 6.16%. A basis point is one...
Stabilizing Mortgage Rates Could Be Boon for Buyers
Mortgage interest rates are in a pretty good place this week, rising so minimally that the incline could be easily mistaken for a flat surface. The 30-year fixed-rate mortgage rate rose three basis points, averaging 6.19%. A basis point is one one-hundredth of a percentage point. Mortgage rates are one piece of the puzzle when...
Weekly Mortgage Rates Rise as Refi Opportunities Fluctuate
Homeowners who purchased in the last year or so could drive themselves nuts trying to find the perfect time to refinance. After all, it hurt bad enough to miss out on those once-in-a-lifetime low rates of 2020 and 2021, and it’s hard to pull the trigger when refinancing today could potentially mean missing out on...
Weekly Mortgage Rates Rise, But Long Term Expectations Are Lower
Though mortgage interest rates rose this past week, the relatively small increase may be a sign things are settling down. After a surprisingly strong Oct. 4 jobs report drove rates rapidly upward, interest rates are beginning to normalize. In the week ending Oct. 17, the average 30-year fixed-rate mortgage rate rose six basis points, averaging...
Weekly Mortgage Rates Hit the Up Button One More Time
Oops, mortgage rates did it again. After playing with your heart in September — briefly flirting below 6% — they've gone up five weeks in a row.The 30-year fixed-rate mortgage averaged 6.6% in the week ending Oct. 24, an increase of 14 basis points over the previous week. A basis point is one one-hundredth of...
Weekly Mortgage Rates Rise for 6th Straight Week
You could illustrate the dictionary definition of "bummer" with a graph of recent mortgage rates.The 30-year fixed-rate mortgage has now climbed for six weeks in a row. It averaged 6.75% in the week ending Oct. 31, according to rates provided to NerdWallet by Zillow. That's up 15 basis points from the previous week, and up...