Photo of a real estate sign in San Francisco

A Record Low on Average 30-Year Fixed Mortgage: 3.29%

WASHINGTON — The average rate on a 30-year fixed mortgage has hit a record low of 3.29%, driven down by investors shifting money into the safety of U.S. Treasuries as the coronavirus outbreak has deepened. Mortgage buyer Freddie Mac said Thursday that the a...
Photo of home site sign

US New-Home Sales Rose 1.3% in November

WASHINGTON — U.S. sales of newly built homes increased 1.3% in November from the prior month, a sign that low mortgage rates are pushing up purchases as well as prices. The Commerce Department said Monday that new single-family houses sold at a seasonal...
Photo of construction site and workers

Under Newsom, California Housing Crisis Gets Worse, Not Better

Gov. Gavin Newsom's grand plan of building 3.5 million housing units by 2025 is off to a terrible start. In the first six months of 2019, builders gained approval for 51,178 new homes in California, nearly 20% fewer than the same period a year earlier. T...
Photo of man holding a house next to a computer with stock charts

US Mortgage Rates Slipped This Week

WASHINGTON — U.S. long-term mortgage rates slipped this week, reflecting the stock market decline and rush by investors to Treasury notes. Mortgage buyer Freddie Mac said Thursday that the average rate on the benchmark 30-year, fixed-rate mortgage fell slig...