The timing couldn't be better: Home-buying season is in full swing and mortgage rates are at their lowest since March.The average interest rate on a 30-year fixed-rate mortgage for the week ending July 18 was 6.67%, down 10 basis points from the previous week's average. A basis point is one-one-one-hundredth of a percentage point. The average interest rate for the week was the lowest since the week ending March 14, according to rates provided to NerdWallet by Zillow.Interest rates fall in line with inflation Interest rates tend to rise when overall prices are soaring and fall when prices are stable.…
Author: Private Lending Agent
The timing couldn't be better: Home-buying season is in full swing and mortgage rates are at their lowest since March.The average interest rate on a 30-year fixed-rate mortgage for the week ending July 18 was 6.67%, down 10 basis points from the previous week's average. A basis point is one-one-one-hundredth of a percentage point. The average interest rate for the week was the lowest since the week ending March 14, according to rates provided to NerdWallet by Zillow.Interest rates fall in line with inflationInterest rates tend to rise when overall prices are soaring and fall when prices are stable. You…
Angel Oak Mortgage REIT (NYSE: AOMR) has priced its public offering of $50.0 million of its 9.500% senior notes due 2029. The notes are guaranteed by Angel Oak Mortgage Operating Partnership, LP and will be issued in denominations of $25.00. Proceeds will be used for general corporate purposes, including the acquisition of non-qualified mortgage loans, and to repurchase approximately $20.0 million of common stock from Xylem Finance. The offering, which is expected to close on July 25, 2024, is being led by RBC Capital Markets, UBS Securities, Wells Fargo Securities and Piper Sandler as joint…
Find out what’s happening with today’s mortgage rates and calculate monthly repayments across a range of different rates and deals. 18 July: Halifax, Natwest Latest Major Lenders To Cut Rates Halifax, the UK’s biggest mortgage lender, has cut selected two and five-year fixed rates for purchase and remortgage by up to 0.22 percentage points, effective from 19 July. Among the new rates the bank will offer is a market-leading five-year fixed rate for purchase at 4.05% with a £999 fee, for borrowers with at least a 40% deposit. For remortgage borrowers, Halifax has a five-year fixed rate at 4.43% with…
Key Takeaways Thirty-year mortgage rates have been falling for the past two weeks, averaging in the mid-to-high 6% range. Today's average is just a third of a percentage point above last year's low of 6.36% trough in early February. Rates are now significantly lower than their October peak of 8.01%, which was the highest 30-year average in more than two decades.Mortgage rates are affected by inflation, so given the current low inflation rate, it's possible that mortgage rates could fall further — but there's no guarantee — so if you've been waiting to lock in a sub-7% rate on a…
July 18, 2024 Mark Ferguson An essential part of being a successful landlord is being strict with your tenants. Allowing your tenants to dominate can lead to a variety of issues, so it's important to diligently enforce your rules and rental agreements. Here we explain why you need to be strict and how it will benefit your business and your tenants in the long run. Video: Why Landlords Need to Be Strict Importance of fulfilling rental contracts One of the main reasons for being strict with tenants is to maintain order and respect the lease agreement. For example, while the…
The Federal Housing Administration (FHA) this week announced a new policy proposal for the Home Equity Conversion Mortgage (HECM) program that updates how bond interest rates on HECM loans are managed. The draft Mortgagee Letter (ML) “proposes updates to HUD's bond interest payment calculations for HECM claims and establishes a process to retroactively adjust bond interest calculations for claims filed against HECMs that became due on or after September 19, 2017,” FHA said in announcing the proposal. Bond interest refers to the percentage of income investors receive when they lend money through a bond. These proposals build on several changes…
The European Central Bank (ECB) Governing Council decided today to keep the ECB's three key interest rates unchanged.The interest rates for the main refinancing operation, marginal lending facility and deposit facility remain unchanged at 4.25%, 4.50% and 3.75%, respectively.The European Central Bank today decided to keep the interest rates on its main refinancing operations and its marginal lending and deposit facilities unchanged at 4.25%, 4.5% and 3.75%, respectively. Domestic price pressures remain high and headline inflation is likely to remain above its target next year, the bank said.One-off factors caused some underlying inflation measures to rise slightly in May, but…
Downward angle icon Downward angle icon. Brian Sankey bought his home in June at a 2.75% interest rate. Courtesy of Brian Sankey Brian Sankey, a former military police officer, bought his Kentucky home at a 2.75% interest rate. The home had an assumeable mortgage that allowed the buyer to take over the seller's existing interest rate. It was a win-win situation. The seller was able to overprice the home, and the buyer was able to significantly lower their monthly payments. This essay is based on a conversation with Brian Sankey, a 54-year-old retired military police officer who bought a home…
IBM and JLL have collaborated to launch a sustainability solution designed to improve ESG (environmental, social and governance) reporting and data management for commercial real estate (CRE). The initiative employs IBM's Envizi technology and JLL's sustainability services and is available globally. The integration of IBM's Envizi ESG Suite into JLL's sustainability program management aims to streamline the process of collecting and managing sustainability data across real estate portfolios. This responds to the growing demand for comprehensive ESG reporting, which is expected to increase significantly over the next few years. According to JLL's research report, “The Green Tipping Point,” 30% of…