Applications for U.S. home mortgages fell last week as interest rates rose, the Mortgage Bankers Association reports.
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Average long-term mortgage rates arrested their five-week decline this week but the benchmark 30-year loan remained below 4 percent, Freddie Mac says.
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The number of Americans signing contracts to buy homes ticked up slightly in September, as it remained difficult to qualify for mortgage financing.
Sales of newly built homes rose to a six-year high in September, but a sharp downward revision in August sales show the housing recovery remains fragile.
Average mortgage rates continued to slide this week, raising prospects for a wave of refinancings, as rates for 30-year loans fell further below 4%.
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U.S. homes sold in September at their fastest clip this year, a sign that the housing market is shaking off a slowdown that began in the middle of 2013.
Housing starts and permits rose in September, a signal the market's modest recovery is supporting what appears to be growing strength in the larger economy.
Home prices in the U.S. increased at the slowest pace in 20 months in July, reflecting sluggish sales and a greater supply of houses for sale.
Fewer Americans signed contracts to buy homes in August, suggesting that real estate sales will remain sluggish over the next few months.
Average rates for long-term mortgages declined slightly this week, after marking their largest one-week gain of the year the previous week.
Millennials with minimal savings look to alternative approaches to home ownership, such as single-family rentals and hybrid contracts such as lease-to-own.
Applications for U.S. home mortgages fell last week as interest rates edged up, he Mortgage Bankers Association says.
Despite adjustments for the Labor Day holiday the previous week, mortgage applications surged last week, even amid rising rates.
Weigh the mortgage interest deduction, the ability to leverage real estate and options for your cash before picking how much cash to use in buying a home.
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