Bank of America Corp chief executive officer Brian Moynihan stated during an interview with CNN on Tuesday that he expects a housing market slowdown over the next two years. This would largely be an effect of the recent rise in interest rates, the BoA executive continued.
"This is the toughest...
Mortgage rates fell in March as the Federal Reserve softened its interest rate hikes on March 22. The decision to implement a 25 basis point hike came after the collapse of Silicon Valley Bank and Signature Bank and the banking instability that followed.
The 30-year mortgage rate hit 6.42% this...
The U.S. mortgage rates have seen a slight decline this week, but not enough to significantly drive up the demand.
According to a report from the Mortgage Bankers Association (MBA), the contract rate on a 30-year fixed-rate mortgage came down from 7.02% to 6.94% this week, the first time it...