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News Articles: mortgage rates

A 'For Sale' sign is posted in front of a home for sale last month in Pasadena, Calif.

Tagged as: 

  • Your Money

More homes are finally hitting the spring market. Will buyers take the plunge?

After a couple extremely slow years, more inventory is finally hitting the market this spring. But buyers might be put off by high prices and an unsteady economy.

April 03, 2025
|
By:
  • Laurel Wamsley
Housing sales remain slow, despite mortgage rates a point lower than a year ago.

Tagged as: 

  • Business

Mortgage rates were supposed to come down. Instead, they're rising. Here's why

Mortgage rates are ticking up, even after the Federal Reserve has started cutting interest rates. Here's why, and where rates — and home sales — could go from here.

October 18, 2024
|
By:
  • Laurel Wamsley
A home for sale sign on Tuesday, Jan. 16, 2024, in Kennesaw, Ga. On Friday, the National Association of Realtors reported that 2023 saw the smallest number of home sales in nearly 30 years.

Tagged as: 

  • Economy

2023 was the worst year to buy a house since the 1990s. But there's hope for 2024

Realtors hope it will be easier to buy a house in 2024. It can't get much harder: last year was one of the slowest on record thanks to high mortgage rates coupled with a housing shortage.

January 20, 2024
|
By:
  • Chris Arnold
Would-be home buyers are battling high prices and high interest rates, but some are finding a way to make it work.

Tagged as: 

  • Economy

Tough housing market is luring buyers without kids and higher incomes

A report from the National Association of Realtors shows the average home buyer this past year had a six-figure income. Others face challenges in a period of high prices and costly home loans.

November 14, 2023
|
By:
  • Scott Horsley
Mortgage rates have been surging, making home ownership a lot less affordable for many people. The higher rates have also made people reluctant to sell their current homes, since many would likely have to pay more in mortgages for their next house.

Tagged as: 

  • Economy

Mortgage rates just hit their highest since 2002

The average cost of a 30-year fixed-rate mortgage jumped to 7.09% this week, the highest in over two decades. Rising interest rates have put homes out of reach for many would-be buyers.

August 17, 2023
|
By:
  • Scott Horsley
Paulo Echeverry and Dahianara Lopez Zapata, at their food truck in Kissimmee, Fla.

Tagged as: 

  • Your Money

Some homebuyers lose deposits of $10,000, $20,000, or more due to high mortgage rates

There's a high-stakes tug of war over new homes. Many people who signed contracts before houses were built now are scared to buy them. Builders don't want them to back out and are keeping deposits.

November 16, 2022
|
By:
  • Chris Arnold
Mortgage rates keep rising, making home ownership unaffordable for millions of Americans. Since the start of the year higher rates have added about $1,000 to the monthly payment to buy a typical house.

Tagged as: 

  • Your Money

Buying a home gets even harder as mortgage rates top 7%

It's harder to afford homeownership than it's been in decades as a steep run-up in both prices during the pandemic and more recently interest rates hit buyers from both sides.

October 27, 2022
|
By:
  • Chris Arnold
Mike Johansen stands by the door of the camping trailer where the couple is living while they wait for construction on their new home to be finished.

Tagged as: 

  • Economy

With mortgage rates near 7%, the housing party is over. Now it's hangover time

The highest rates in 20 years are dashing the dreams of some would-be homebuyers. Others stretch to buy but spend close to $1,000 a month more in monthly payments for a typical house.

October 13, 2022
|
By:
  • Chris Arnold
Katrina Wooten signed a contract to buy this home that's under construction near Gainesville, Fla. Then mortgage rates jumped sharply higher.

Tagged as: 

  • Your Money

Adjustable rate mortgages can be cheaper but risky. Here's what you need to know

With mortgage rates up sharply, many more homebuyers are turning to adjustable rate loans. These can be more affordable, at least at first. But they come with a big risk. Is it worth it?

September 10, 2022
|
By:
  • Chris Arnold
Ari and TR Brooks stood on the land where their new home would be built the day they agreed to buy it back in February of 2021. But the home is still not completed and mortgage rates have risen dramatically.

Tagged as: 

  • Your Money

The pain of rising mortgage rates when you're waiting for your home to be built

Many Americans put down deposits of $20,000 or more with builders to put up new homes. But with mortgage rates rising, some can no longer afford the homes. And they could lose their deposits.

June 29, 2022
|
By:
  • Chris Arnold
Did you put money down to buy a home that wasn't built yet and now are struggling to afford it because of higher mortgage rates? We want to hear from you.

Tagged as: 

  • Your Money

Are rising interest rates giving you grief while you wait for your home to be built?

Many people are getting hurt financially because mortgage rates rose sharply while they were waiting for their new homes to be built. And now it's hard or impossible to buy them. Share your story.

June 24, 2022
|
By:
  • Chris Arnold
Mortgage rates on 30-year, fixed-rate loans rose above 5% this week. That's pushing the cost of buying a home higher and making homeownership unaffordable for more people.

Tagged as: 

  • Business

Mortgage rates just hit 5%. Here's how much more expensive that makes home ownership

Higher mortgage rates and home prices have pushed the monthly payment to buy the median-priced home in the U.S. up more than 50% since the start of last year. Many first-time buyers can't afford it.

April 08, 2022
|
By:
  • Chris Arnold
A historic drop in mortgage rates has millions of homeowners refinancing to save money. It's helping home sales, but it's not helping the broader economy as much as it would in a normal recession.

Tagged as: 

  • Economy

Record Low Mortgage Rates Put More Cash In Pockets, But May Not Boost Economy Much

A historic drop in rates has millions of homeowners refinancing to save money. It's helping home sales, but it's not helping the broader economy as much as it would in a normal recession.

July 21, 2020
|
By:
  • Chris Arnold

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