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Mortgage and refinance interest rates today for October 20, 2025: Weekly rates drop
Yahoo Finance· 2025-10-20 10:00
Mortgage rates have decreased this week. According to Zillow, the average 30-year fixed mortgage rate has dropped by 10 basis points to 6.18%, and the 15-year fixed rate is down seven basis points to 5.51%. Because rates have been inching down, now could be a good time to buy a house. There's less competition than in the summer months, and the stress that often accompanies the holiday season hasn't arrived yet. Current mortgage rates Here are the current mortgage rates, according to the latest Zillow ...
A Federal Employee Faces A Once-In-A-Lifetime Ordeal—Closing On A House While Being Furloughed. 'This Is Not The Time To Be Closing On A Home'
Yahoo Finance· 2025-10-18 17:01
Core Insights - A federal employee is facing challenges in securing a mortgage due to a government furlough, which has created uncertainty around employment verification and mortgage approval [1][2]. Group 1: Mortgage Approval Challenges - The employee is in the underwriting process with a looming mortgage contingency deadline and a closing date set for a month [2]. - The underwriter has verified income through pay stubs, but the final step of verbal employment verification remains pending, raising concerns about losing the deposit if the lender withdraws [2]. Group 2: Community Advice and Solutions - Commenters emphasized the importance of contacting the loan officer for accurate information regarding furlough-related issues, as they are better equipped to navigate the situation than real estate agents [3]. - Some individuals shared successful experiences of closing loans while furloughed, particularly when working with local lenders who handle loans in-house [3]. Group 3: Contingency Clauses - The mortgage contingency clause in the purchase contract may offer protection for the deposit if financing is denied, although its effectiveness depends on the specific wording of the contract [5].
Mortgage and refinance interest rates today, October 17, 2025: Annual rates are down
Yahoo Finance· 2025-10-17 10:00
Mortgage rates have inched down again this week. According to Freddie Mac, the national average 30-year fixed mortgage rate has decreased by three basis points to 6.27%, which is 17 basis points lower than it was this time last year. The 15-year rate is down by one basis point to 5.52%, and it's 11 basis points lower than last October. Since mortgage interest rates are lower now than in October 2024, it could be a good time to buy a house. Current mortgage rates Here are the current mortgage rates, ac ...
Small mortgage loans: How they work and where to find them
Yahoo Finance· 2025-10-16 18:14
Small mortgage loans cater to borrowers looking to buy a lower-cost property, such as a condominium or a modular home. However, many lenders have a minimum amount you can borrow for a mortgage. Thankfully, there is a handful of national mortgage lenders that offer lower loan limits. What is a small mortgage loan? A small mortgage loan — often referred to as a mini mortgage, micro mortgage, or small-dollar mortgage — is a home loan for a small amount. The exact figure or minimum amount that constitutes a ...
Mortgage rates moved lower this week but remain stuck in a narrow range
Yahoo Finance· 2025-10-16 16:00
Mortgage rates drifted slightly lower this week as fresh trade tensions rattled the global bond markets. The average 30-year mortgage rate was 6.27% through Wednesday, down from 6.3% a week earlier, according to Freddie Mac data. The average 15-year mortgage rate was 5.52%, from 5.53%. The 10-year Treasury yield, which mortgage rates closely track, has been volatile in recent days as investors weigh the implications of the ongoing trade dispute between the US and China. On Friday, Trump said the US would ...
Rate Sheet, AI, Verification, Servicing, Flood Tools; Primer on What Builders Can and Can't Do
Mortgage News Daily· 2025-10-16 15:46
Rate Sheet, AI, Verification, Servicing, Flood Tools; Primer on What Builders Can and Can't Do “I was gambling in Las Vegas; I took a little risk. Send lawyers, guns, and money, Dad, get me out of this!” Hopefully, no one heading to LV tomorrow or this weekend runs into that kind of trouble. Did you know… The difference between an American roulette wheel and a European wheel? The American version has “00.” Fans of Lucifer, and numerology, know that, for both, the numbers add up to 666! Homeowners in Las Ve ...
The U.S.'s largest mortgage lender will now offer rewards points
Yahoo Finance· 2025-10-15 15:59
While rewards points are a big incentive for airlines , grocery stores and credit card companies , they're not something you typically see folded into your everyday bills. That could be changing, though, as the country's largest mortgage lender has teamed with the Bilt loyalty program to reward people for paying on time. Starting in early 2026, customers who have a mortgage held by United Wholesale Mortgage (UWM) will be able to earn Bilt points with each on-time payment. UWM invested in Bilt in July, whi ...
Figure Launches AI-Powered DSCR Loan Platform
Globenewswire· 2025-10-15 12:30
West Capital and Axen among Figure’s first embedded partners as company expands its blockchain-based capital marketNEW YORK, Oct. 15, 2025 (GLOBE NEWSWIRE) -- Figure today announced the launch of its AI-powered Debt Service Coverage Ratio (DSCR) loan platform, expanding its blockchain-based capital marketplace into one of the fastest-growing — and most underserved — segments of housing finance. As competition intensifies and demand for efficiency rises, the new platform brings end-to-end automation to a pro ...
Firm Capital Mortgage Investment Corporation Completes $25 Million Bought Deal Financing
Globenewswire· 2025-10-14 12:24
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/ TORONTO, Oct. 14, 2025 (GLOBE NEWSWIRE) -- Firm Capital Mortgage Investment Corporation (the “Corporation”) (TSX: FC) is pleased to announce that it has closed its previously announced public offering of $25,000,000 aggregate principal amount of 5.50% convertible unsecured subordinated debentures due December 31, 2032 of the Corporation (the “Debentures”) with a syndicate of underwriters bookrun by CIBC Capital Markets a ...
Mortgage and refinance interest rates today, October 14, 2025: Rates drop alongside the 10-year Treasury yield
Yahoo Finance· 2025-10-14 10:00
Core Insights - Mortgage rates have decreased, with the 30-year fixed mortgage rate at 6.24% and the 15-year fixed rate at 5.52% [1] - The decline in mortgage rates is influenced by the falling 10-year Treasury yield, which may not continue to decrease [1] - Current mortgage rates are national averages and can vary based on individual financial situations [17] Current Mortgage Rates - 30-year fixed: 6.24% [5] - 15-year fixed: 5.52% [5] - 5/1 ARM: 6.38% [5] - 7/1 ARM: 6.11% [5] - 30-year VA: 5.70% [5] - 15-year VA: 5.32% [5] Refinance Rates - 30-year fixed refinance: 6.38% [6] - 15-year fixed refinance: 5.72% [6] - 5/1 ARM refinance: 6.72% [6] - 7/1 ARM refinance: 6.74% [6] - 30-year VA refinance: 6.07% [6] Comparison of Mortgage Types - 15-year mortgages generally have lower rates than 30-year mortgages, but result in higher monthly payments [8] - Example: A $400,000 mortgage at 6.24% for 30 years results in a monthly payment of about $2,460, totaling $485,696 in interest [9] - A $400,000 mortgage at 5.52% for 15 years results in a monthly payment of about $3,273, totaling $189,065 in interest [9] Adjustable vs. Fixed-Rate Mortgages - Fixed-rate mortgages lock in the interest rate from the start, while adjustable-rate mortgages (ARMs) can change after an initial period [11][12] - ARMs may start with lower rates but carry the risk of increases after the initial period [13] Future Rate Expectations - Economists do not expect significant drops in mortgage rates before the end of 2025, despite recent Federal Reserve rate cuts [14][18] - The next quarter-point cut is anticipated at the Fed's meeting on October 29 [15] - Any potential decreases in 2026 are expected to be modest, influenced by economic conditions and inflation [19]