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Homebuyers and renters alike could feel relief later this year as home prices stabilize, mortgage rates decline and rent price growth continues to slow. Economists expect the Federal Reserve to pause rate hikes for a time while it observes incoming economic data, some stemming from the banking crisis that led to tightened lending. This could…
“Mortgage rates fall for fourth straight week” The average long-term mortgage rate fell for the fourth consecutive week and have dropped more than three-quarters of a point since hitting a 20-year high last month. Mortgage buyer Freddie Mac reported Thursday that the average on the benchmark 30-year rate dipped to 6.33% from 6.49% last week….
“#Meme investors should heed ‘manic’ lesson of Fannie-Freddie collapse” The smart money thinks it’s only a matter of time — weeks, maybe days — before the meme-stock craze finally evaporates. But if history is any guide, this mania hasn’t quite run its course. For proof, look no further than the strange, decade-plus-long investment mania over…
“#Housing may again be behind the 2008-ball” We seem to be living in an era of the unexpected disaster: A virus that suddenly shuts down the US economy and ends life as we know it. A banking system that is at one minute solvent, and the next on the brink of collapse. Of course, such…
“#Benchmark 30-year mortgage rate drops to record low 2.66%” US long-term mortgage rates dropped this week to a record low for the 16th time in 2020, reflecting an economy hard hit by the coronavirus pandemic. Mortgage giant Freddie Mac said Thursday that the average rate on the benchmark 30-year fixed-rate home loan slipped to a…