Thursday, September 28, 2023

Latest News Today

Lowest Six-Week Average in Long-Term Mortgage Rates Recorded

Average Long-Term U.S. Mortgage Rate Hits Six-Week Low

The spring buying season is now in full swing, and for those in the market for a new home, there’s good news. The average long-term U.S. mortgage rate has dropped to its lowest level in six weeks.

Freddie Mac Reports Third Straight Week of Decline

According to mortgage buyer Freddie Mac, the average on the benchmark 30-year rate fell for the third straight week. Last week, the rate was at 6.42%, but it has now inched down to 6.32%. This is a significant drop that could potentially save homebuyers thousands of dollars over the life of their mortgage.

Spring Buying Season Benefits

The timing of this rate drop is ideal for those looking to buy a home during the spring buying season. With the weather warming up and more homes coming on the market, it’s a popular time for buyers to start their search. The lower mortgage rates could make a significant difference in the affordability of homes for many buyers.

Consider Refinancing

For those who already own a home, now may be a good time to consider refinancing. With rates at a six-week low, homeowners could potentially lower their monthly mortgage payments and save money over the life of their loan.

Overall News Summary

The drop in the average long-term U.S. mortgage rate is welcome news for homebuyers and homeowners alike. With the spring buying season in full swing, this rate drop could make a significant difference in the affordability of homes for many buyers. Homeowners may also want to consider refinancing to take advantage of these lower rates.

Follow us

Top News

Continue reading

Wednesday 3/29/2023 Performance of Major US Stock Indexes

Stocks Rally as Wall Street Shakes off Fear The stock market saw a significant rally as Wall Street shrugged off the fear that had dominated earlier this month. On Wednesday, the S&P 500 rose by 1.4%, while the Dow Jones...

Michigan Utility Companies Propose Using Low-Carbon Funds from Taxpayers to Invest in Natural Gas

Heat Pumps Could Save Maine Residents Hundreds of Dollars Annually News Summary According to the Maine State Housing Authority, a heat pump could save the typical Mainer who uses heating oil $913 annually (or $2,128 if gas is...

Caution Urged by EU Chief in Trading Technology with China

EU Must Protect Trade and Investment from China's Security and Military Threats, Warns von der Leyen European Commission President Ursula von der Leyen has cautioned that the European Union (EU) must be ready to implement measures to safeguard trade and...

Coinbase’s Expansion in Canada: A Follow-Up

Coinbase in Talks with Regulators to Stay in Canada, While Binance Considers Leaving As Canada tightens regulations for cryptocurrency exchanges, Coinbase is reportedly in discussions with regulators to stay in the country, while Binance is considering leaving....

Declining deposits highlighted by bank failures

Depositors Withdraw Funds Amid Bank Failures and Rising Interest Rates Recent bank failures and a significant increase in interest rates have led to an acceleration in the withdrawal of funds by depositors. This has raised concerns about the health of...

Lolita the Orca to Be Returned to the Pacific with an Established Agreement

Unlikely Coalition Announces Plan to Return Orca to Pacific Northwest In a surprising move, a coalition made up of a theme park owner, animal rights group, and NFL owner-philanthropist has announced a plan to return Lolita, an orca that has...

Lebanon Cancels $122M Airport Terminal 2 Plan Unexpectedly

Lebanon Cancels Contract for New Airport Terminal Lebanon's caretaker transportation minister has announced the cancellation of a contract for a new terminal at the country's main airport. The decision comes after criticism that no public bidding was held for the...

US Economic Growth for Last Quarter Revised Down to 26% Rate, Marking a Unique Change

US Economy Grew at 2.6% Annual Pace in Q4 Despite Rising Interest Rates The US economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight...

Jobless Claims Increase Among Americans; Layoffs Remain Minimal

Jobless Claims in the US Rise Slightly, But Still Remain Historically Low Despite the Federal Reserve's efforts to cool the economy and job market in its fight against inflation, U.S. applications for jobless benefits rose slightly last week. However, the...

Fire breaks out as BNSF train carrying ethanol derails in Minnesota, prompting evacuation of small town

Train Carrying Ethanol and Corn Syrup Derails and Catches Fire in Minnesota Evacuation and Emergency Response A train carrying “a form of ethanol” and “a corn syrup liquid” derailed and caught fire, forcing the evacuation of a Minnesota...