sunny.png
Saturday September 25th, 2021 4:48PM

US average mortgage rates flat to higher; 30-year at 2.99%

By The Associated Press

WASHINGTON (AP) — Mortgage rates were flat to higher this week. The benchmark 30-year home loan remained below the 3% mark amid continued positive indications of the economy’s recovery from the pandemic recession.

Mortgage buyer Freddie Mac reported Thursday that the average for the 30-year rate rose to 2.99% from 2.95% last week. At this time last year, the average long-term rate stood at 3.18%.

The rate for a 15-year loan, popular among those seeking to refinance, was unchanged from last week at 2.27%.

In the latest economic news, the government reported that the number of Americans seeking unemployment benefits dropped last week for a fifth straight week, to 385,000, a new pandemic low and additional evidence that the job market is regaining its health as the economy further reopens.

With historically low mortgage rates prevailing, the U.S. housing market has grown so overheated as demand outpaces supply that prices keep hitting record highs — and roughly half of all houses are now selling above their list price.

  • Associated Categories: Associated Press (AP), AP Business, AP Business - Economy, AP Business - Personal Finance, AP Business - Real Estate
© Copyright 2021 AccessWDUN.com
All rights reserved. This material may not be published, broadcast, rewritten, or redistributed without permission.
Hunt is on for Burmese pythons, Florida natives' arch-enemy
Professional python hunters and amateurs alike can win prizes in Florida’s annual hunt for the Burmese pythons that are ravaging the state’s native species
12:50PM ( 19 minutes ago )
Stocks move lower on Wall Street; AMC slumps on stock sale
Stocks mostly fell on Wall Street in afternoon trading Thursday as investors weighed the latest economic reports showing that unemployment is falling, but labor costs are rising
12:30PM ( 39 minutes ago )
Biden offers tax deal to Republicans in infrastructure talks
President Joe Biden is trying to break a logjam with Republicans on how to pay for infrastructure
12:28PM ( 42 minutes ago )
Associated Press (AP)
Biden announces international COVID-19 vaccine sharing plan
The White House says the U.S. will share more COVID-19 vaccines with the world, including directing 75% of excess doses through the UN-backed COVAX global program
12:12PM ( 58 minutes ago )
Biden's AI czar focuses on societal risks, preventing harm
Robotics scientist Lynne Parker was a pioneer in figuring out how robots could work together to perform difficult missions, like cleaning up after a nuclear disaster, waxing warehouse floors or pulling barnacles off a ship
12:11PM ( 58 minutes ago )
Nonprofit EmbraceRace helps parents explain race to children
EmbraceRace was founded in 2016 by a couple who believe it is never too early to start conversations with children of all races about racism
12:04PM ( 1 hour ago )
AP Business
Major Russian fund to ditch dollar, buy euros, yuan, gold
Russia says it will completely remove the dollar from its rainy day fund, a move intended to counter U.S. pressure two weeks before a summit of the two countries’ leaders
10:31AM ( 2 hours ago )
The Latest: California considers new workplace mask rules
California is set to fully reopen in less than two weeks and do away with nearly all mask and social distancing requirements for vaccinated people
10:12AM ( 2 hours ago )
Stocks fall broadly on Wall Street; AMC falls on share sale
Stocks fell on Wall Street in early trading Thursday as investors weighed the latest economic reports showing that unemployment is falling, but labor costs are rising
10:09AM ( 3 hours ago )
AP Business - Economy
Biden budget highlights: Lots of spending, taxing the rich
President Joe Biden’s $6 trillion budget proposal offers major new initiatives like child and elder care subsidies, generous tax credits for families and the working poor, and free community college
12:05AM ( 5 days ago )
Biden's $6T budget: Social spending, taxes on business
President Joe Biden is proposing a $6 trillion budget for next year that’s piled high with new safety net programs for the poor and middle class
12:01AM ( 5 days ago )
Social spending, business tax hike drive $6T Biden budget
President Joe Biden is proposing a $6 trillion budget for next year that fails to slow spiking government debt
11:40AM ( 6 days ago )
AP Business - Personal Finance
Bank CEOs tell Congress they'll work to avoid foreclosures
The chief executives of the nation’s largest banks have been back in front of Congress, facing questions ranging from bitcoin to their efforts to keep Americans in their homes after government aid to pandemic-hit mortgage holders expires this summer
5:22PM ( 6 days ago )
Homebuyers increasingly willing to pay above asking price
The red-hot U.S. housing market is widening the gap between what a home is objectively worth and what eager buyers are willing to pay for it
1:12PM ( 6 days ago )
Fewer Americans sign contracts to buy homes in April
Fewer Americans signed contracts to buy homes in April as a lack of supply continues to foil buyers
11:09AM ( 1 week ago )
AP Business - Real Estate
Hunt is on for Burmese pythons, Florida natives' arch-enemy
Professional python hunters and amateurs alike can win prizes in Florida’s annual hunt for the Burmese pythons that are ravaging the state’s native species
12:50PM ( 19 minutes ago )
Biden offers tax deal to Republicans in infrastructure talks
President Joe Biden is trying to break a logjam with Republicans on how to pay for infrastructure
12:46PM ( 23 minutes ago )
Biden announces international COVID-19 vaccine sharing plan
The White House says the U.S. will share more COVID-19 vaccines with the world, including directing 75% of excess doses through the UN-backed COVAX global program
12:37PM ( 33 minutes ago )
Visiting Israeli defense chief seeks to reaffirm US support
Israeli Defense Minister Benny Gantz is in Washington, seeking a reaffirmation of U.S. security commitments to Israel
12:32PM ( 38 minutes ago )
Stocks move lower on Wall Street; AMC slumps on stock sale
Stocks mostly fell on Wall Street in afternoon trading Thursday as investors weighed the latest economic reports showing that unemployment is falling, but labor costs are rising
12:30PM ( 39 minutes ago )