Mortgage rates remained near historic lows this week. The benchmark 30-year home loan held below the 3% mark amid further signs of the economy’s recovery from the pandemic recession. Mortgage buyer Freddie Mac said Thursday the average for the 30-year rate loan dipped to 2.96% from 2.99% last week. The...
US New Home Sales Fell 5.9% in April After Big March Gain
WASHINGTON — Sales of new homes fell a bigger-than-expected 5.9% in April, a drop that analysts blamed in part on rising home prices. Sales dropped to a seasonally adjusted annual rate of 863,000 last month, the Commerce Department reported Tuesday. That followed a sales pace of 917,000 in March, which...
April US Home Sales Fell as Low Inventory Pushed up Prices
Sales of previously occupied U.S. homes fell for the third straight month in April as the number of properties for sale hit a record low, driving prices to new highs. Existing home sales fell 2.7% last month from March to a seasonally-adjusted rate of 5.85 million annualized units, the National...
California Housing Crisis Mystery: Rents Way up, Eviction Filings Way Down
Shirley Gibson isn’t quite sure how to feel about these numbers. As directing attorney of the Legal Aid Society of San Mateo County — which offers legal services to low-income tenants caught between the preposterously priced southern suburbs of San Francisco and the preposterously priced suburbs of Silicon Valley —...
US Long-Term Mortgage Rates Ease; 30-Year Loan at 3.72%
WASHINGTON — U.S. long-term mortgage rates declined slightly this week, remaining close to the historically low levels where they have hovered for the past two months. Mortgage buyer Freddie Mac said Thursday the average rate for a 30-year fixed-rate mortgage eased to 3.72% from 3.74% last week. The benchmark rate...
Poll: Many Feeling Vulnerable Despite Economic Gains
WASHINGTON — Americans are generally satisfied with their personal finances, but many lack confidence in their ability to afford retirement, an emergency expense or even their daily living costs. Roughly two-thirds, 67%, describe their financial situation as generally good, up slightly from 62% who said so at the start of...