Mortgage rates fall again as economy cools further

Mortgage rates fall again as economy cools further Mortgage Rates fall for home loans for the sixth straight week as concerns about the economy buffeted financial markets. In the week ending March 6, 30-year fixed-rate mortgages averaged 6.63%, Freddie Mac announced Thursday. That’s down from 6.76% last week, and marked the biggest weekly decline since…

The National Salute to Veteran Patients Week. The week serves not only as a gesture of gratitude but also to raise awareness about the needs of hospitalized veterans and the role of VA facilities in providing comprehensive care. Those interested in participating or learning more National Salute to Veteran Patients Week The National Salute to…

Why more retirement age Americans keep working I have wondering for years how are fixed income seniors making it. From my 18 years in the Reverse Mortgage business before Covid; I kknow how much of all monthly income. I know many have went back to work to survive. In recent years, a growing number of Americans…

Reverse Loan Pro and Cons Rising costs for homeowners’ insurance, healthcare, and groceries are making it increasingly difficult for seniors to thrive. One effective solution is to suggest a reverse loan. This option can help senior members improve their cash flow without withdrawing funds from the branch. Here are some common questions senior members might…

As homeowners seek to leverage their property’s equity, understanding the distinctions between Home Equity Lines of Credit HELOC and reverse mortgage becomes crucial. Both financial tools offer unique benefits and cater to different needs. Here’s an analysis to help determine which option might be more advantageous in 2025. Home Equity Line of Credit HELOC A…

There’s now a 40% chance the Fed will pivot back to hiking rates again next year, top economist says Continued economic strength along with inflationary policies expected from President-elect Donald Trump could mean the Federal Reserve may have to resort to rate hikes in 2025, a top economist warned. Wall Street just threw a tantrum…

What Does the Fed Rate Cut Mean for Home Prices? At the last two Federal Reserve Board meetings, the agency cut the federal funds rate — for a total of 0.75%. You might think this means all interest rates will automatically drop by that same amount, but that’s not really how it works. The federal…

How interest rates work If you have wondered why the Federal Reverse cuts the interest rates and the rates for you go up, I hope to explain. People get in touch with me saying it is now a better time. No September was. Lenders will primarily discount rates before the actual Fed cut. Other people…

Here Come the HELOCs: Mortgages, the Burden of Housing Debt, Serious Delinquencies, and Foreclosures in Q3 2024 HELOC balances surged, mortgages not so much, and incomes grew a lot faster than housing debt.by Wolf Richter Mortgage balances rose by just $71 billion, or by 0.57% in Q3 from Q2, the smallest percentage increase since the…

It’s Getting Harder to Qualify for Social Security Benefits in Retirement. Here’s the Reason Why To qualify for Social Security benefits, you need to accumulate 40 work credits in your lifetime. You can accrue a maximum of four credits per year. The value of a single work credit is rising in 2025, so part-time workers…