- Mortgage rates are falling and more homeowners are thinking about refinancing but knowing when to act is tricky. A good general rule is looking to see if the current rate is at least half a percentage point lower than your own rate and that you plan on staying in your home long enough so that the savings covers the thousands of dollars in closing costs. There are three important goals to consider before refinancing.First, lowest lifetime cost. If your goal is to minimize the total interest paid over the l ...

Core Insights - Mortgage rates have slightly decreased, with the average 30-year mortgage rate at 6.27%, down from 6.3% the previous week, and the average 15-year mortgage rate at 5.52%, down from 5.53% [1][4] Group 1: Mortgage Rates and Economic Factors - The 10-year Treasury yield, which closely tracks mortgage rates, has been volatile due to ongoing trade tensions between the US and China, particularly following President Trump's announcement of a 100% tariff on Chinese goods starting November 1 [2] - The ongoing government shutdown has delayed several key economic data releases, contributing to the narrow range of mortgage rate movements in recent weeks, as noted by a senior economist at Zillow Home Loans [3][5] Group 2: Housing Market Activity - Despite mortgage rates being near year-to-date lows, home sales have remained sluggish this fall, with mortgage applications for home purchases dropping by 3% compared to the previous week, and refinancing applications down by 1% [4] - The decline in purchase and refinance applications is attributed to continued economic uncertainty, including the impacts of the government shutdown, according to the President and CEO of the Mortgage Bankers Association [5]

Core Insights - A Zillow analysis indicates that a mortgage rate drop to 4.43% is necessary for median-income U.S. homebuyers to afford the median-priced home, assuming a 20% down payment, which many first-time buyers cannot afford [2][5] - In high-cost coastal metros like New York, Los Angeles, and Miami, even a 0% mortgage rate would not make homes affordable for median-income households due to high associated costs [3][4] - Conversely, in many Midwestern markets, current mortgage rates are already low enough for median-income buyers to afford median-priced homes [4] Affordability Challenges - The analysis suggests that mortgage rates would need to decline significantly for typical homes to be affordable for median-income buyers, which is currently deemed unrealistic [5][6] - Zillow's economic analyst warns that expectations for substantial drops in mortgage rates or home prices may lead to disappointment, as such corrections would require a significant economic slowdown [6]

Core Insights - The average 30-year fixed mortgage rate has decreased to 6.20%, marking its lowest point in over a month [1][15][17] - Mortgage rates are expected to remain stable in a tight range, with no significant downward momentum observed [17][18] Current Mortgage Rates - The current national average mortgage rates are as follows: - 30-year fixed: 6.20% - 20-year fixed: 5.83% - 15-year fixed: 5.52% - 5/1 ARM: 6.29% - 7/1 ARM: 6.36% - 30-year VA: 5.65% - 15-year VA: 5.21% - 5/1 VA: 5.60% [4] Mortgage Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, although this is not always the case [3] Advantages and Disadvantages of Mortgage Types - A 30-year fixed mortgage offers lower and predictable monthly payments, but comes with higher interest costs over the loan's life [7][9] - A 15-year fixed mortgage has lower interest rates and allows borrowers to pay off their loans sooner, but results in higher monthly payments [10][11] - Adjustable-rate mortgages (ARMs) typically start with lower rates but can lead to unpredictable payments after the initial fixed period [12][13] Market Trends - Mortgage rates are currently searching for a trend, with no clear momentum for a decrease, despite recent Federal Reserve actions [17][18]

Core Insights - The average 30-year fixed mortgage rate has decreased to 6.20%, marking its lowest point in over a month [1][15][17] - Mortgage rates are expected to remain stable in the near term, with no significant downward momentum observed [17][18] Mortgage Rates Overview - Current national average mortgage rates include: - 30-year fixed: 6.20% - 20-year fixed: 5.83% - 15-year fixed: 5.52% - 5/1 ARM: 6.29% - 7/1 ARM: 6.36% - 30-year VA: 5.65% - 15-year VA: 5.21% - 5/1 VA: 5.60% [4] Refinance Rates - Today's mortgage refinance rates are generally higher than purchase rates, although this is not always the case [3] Advantages and Disadvantages of Mortgage Types - A 30-year fixed mortgage offers lower and predictable monthly payments, but comes with higher interest costs over the loan's life [7][9] - A 15-year fixed mortgage has lower interest rates and allows borrowers to pay off their mortgage sooner, but results in higher monthly payments [10][11] - Adjustable-rate mortgages (ARMs) offer lower initial rates but carry the risk of future rate increases, making monthly payments unpredictable [12][13] Market Trends - Mortgage rates are currently searching for a trend, with no clear momentum for a decrease observed [18] - The Federal Reserve's recent short-term interest rate cut has not significantly impacted mortgage rates [17]

Core Insights - Today's mortgage rates have slightly decreased, with the average 30-year fixed mortgage rate at 6.28% and the 15-year fixed rate at 5.56% [1][6][20] - Current mortgage rates may already reflect anticipated Federal Reserve rate cuts, suggesting that now could be a favorable time to buy a home [2][18] Mortgage Rates Overview - The current national average mortgage rates are as follows: - 30-year fixed: 6.28% - 20-year fixed: 5.90% - 15-year fixed: 5.56% - 5/1 ARM: 6.52% - 7/1 ARM: 6.63% - 30-year VA: 5.88% - 15-year VA: 5.39% - 5/1 VA: 5.76% [6][20] Refinance Rates - Mortgage refinance rates are generally higher than purchase rates, but this is not always the case [4][21] Market Timing - The current housing market is relatively stable compared to the volatility seen during the COVID-19 pandemic, making it a reasonable time to purchase a home [18][19] - Mortgage rates have generally fallen since late May, with the 30-year fixed rate down over half a point [22] Future Expectations - Economists do not anticipate significant drops in mortgage interest rates before the end of the year, although minor decreases may occur [21][22]

[Music] Hello and welcome to Asking for a Trend. I'm Josh Flipton and for the next half hour, we are breaking down the trends of today that'll move stocks tomorrow. There's a lot to keep track of, so we're focusing on what you need to know to get ahead in the curve here.Some of the trends we're going to be diving right into. The last day of the trading week ends down. Fears of renewed tensions between the US and China sparking a sell-off.All major indices did end the day lower. Gen Z and millennials are gai ...

Core Insights - Mortgage rates have slightly decreased this week, with the average 30-year mortgage rate at 6.3%, down from 6.34% the previous week, and 15-year mortgage rates at 5.53%, down from 5.55% [1][2] Mortgage Rate Trends - For the past month, mortgage rates have remained stable around 6.3%, with minimal fluctuations due to the delay of the latest jobs report caused by the government shutdown [2][4] - The average 30-year fixed mortgage rate previously peaked at 7.08%, marking the first time rates surpassed 7% since April 2002 [3] Market Reactions - The government shutdown has led to a reliance on alternative data sources, contributing to the narrow range of mortgage rate movements [4] - As mortgage rates stabilized, refinancing applications dropped by 8% and purchase applications declined by 1% compared to the previous week [5] Consumer Sentiment - The current stability in mortgage rates may provide a sense of security for prospective homebuyers, although broader economic uncertainties could negatively impact consumer sentiment [6]

Core Insights - Mortgage rates have decreased this week, with the national average 30-year fixed mortgage rate dropping to 6.30%, which is slightly lower than the same time last year [1] - The 15-year fixed mortgage rate has also decreased to 5.53%, following two weeks of increases [1][2] Mortgage Rates Overview - Current mortgage rates include a 30-year fixed at 6.21%, a 20-year fixed at 5.70%, and a 15-year fixed at 5.53% [6] - Adjustable-rate mortgages (ARMs) are also available, with a 5/1 ARM at 6.31% and a 7/1 ARM at 6.43% [6] Refinance Rates - Today's refinance rates show a 30-year fixed at 6.34% and a 15-year fixed at 5.64% [7] - Refinance rates can sometimes be higher than purchase mortgage rates, but this is not always the case [4][14] Economic Context - Interest rates are not expected to drop significantly before the end of the year, making any decrease in rates beneficial for home buyers and those looking to refinance [2] - The economy plays a crucial role in determining mortgage rates, with lower rates typically occurring during economic struggles to encourage borrowing [14] Mortgage Rate Types - Fixed-rate mortgages lock in the interest rate for the entire loan term, while adjustable-rate mortgages have a fixed rate for an initial period before adjusting periodically [10][11] - A 30-year mortgage offers lower monthly payments but incurs more interest over time, whereas a 15-year mortgage has higher monthly payments but lower overall interest costs [15][16]

Mortgage rates have decreased this week. According to Freddie Mac, the national average 30-year fixed mortgage rate has dropped by four basis points to 6.30%, putting it a couple of basis points lower than this time last year. The 15-year fixed rate is down by two basis points to 5.53%. These declines follow two consecutive weeks of increases. Interest rates probably won't plummet before the end of the year, so any small decrease is positive news for home buyers or homeowners looking to refinance. It coul ...