Posts Tagged ‘mortgage’
Mortgage rates hit 10th record low of 2020, further fueling the US housing market’s boom
For the 10th time this year, mortgage rates hit a record low. The average 30-year fixed mortgage rate fell to 2.81% from 2.87% last week, Freddie Mac said in a Thursday release. The reading is the lowest in data going back nearly 50 years. The last record low was 2.86% seen in early September. The…
Read MoreMSN Money: Reverse Mortgage Facts for Seniors to Keep in Mind
With a wide range of information about retirement financing options available to seniors who are becoming increasingly more tech-savvy with each passing year, it can be difficult to sort out some of the specifically-relevant details that an older American should keep in mind if they’re contemplating taking out a reverse mortgage loan to supplement retirement…
Read MoreAverage U.S. mortgage rate drops to 2.87%
The average U.S. mortgage rate for a 30-year fixed loan is 2.87% this week, dropping one basis point from last week’s 2.88%, Freddie Mac said in a report on Thursday. The rate is now one basis point from an all-time low set in mid-September. The average fixed rate for a 15-year mortgage was 2.37%, rising…
Read MoreForbes: How Reverse Mortgages Work, Who They’re Suited For
A reverse mortgage can be thought of as similar to a conventional mortgage, but where the “roles are switched,” according to a new column at Forbes. They’re best suited for seniors encountering mounting costs late in life and those without heirs, and are not well-suited for those who hope to leave their home to an…
Read MoreSeniors in Better Savings Position Than Younger Generations
Consumers at or over the age of 62 reported less difficulty in paying for a bill or expense, though other factors including household income and whether or not they live in metropolitan areas also affected the standing of a person’s savings. This is according to the “Making Ends Meet Survey” conducted by the Consumer Financial…
Read MoreMortgage demand from homebuyers now up 25% from a year ago
After a brief lull to start the month, mortgage demand surged ahead yet again — even with the highest interest rates in several weeks. Total mortgage application volume increased 6.8% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance demand came roaring back, up 9% for the week…
Read MoreRetirement Crisis Deepens as Pandemic Drives Unemployment
The effects of the COVID-19 coronavirus pandemic on unemployment in America have led to most recent estimates placing the national unemployment rate at 11.1% as of June 2020, up from 4% one year prior according to the Bureau of Labor Statistics. Unemployment that has been driven by the pandemic’s effect on the economy is deepening…
Read MorePoll Finds Pandemic Surge in Loneliness Among Older Adults
The constraints of the coronavirus pandemic have many more older adults feeling lonely this summer than in years past. According to a new poll, many older adults are feeling isolated while they protect themselves from the virus. In June, the National Poll on Healthy Aging surveyed more than 2,000 U.S. adults ages 50 to 80.…
Read MoreMortgage rates notch new low
Mortgage rates sank to an all-time low — again. The average rate for a 30-year fixed-rate mortgage dropped .07 percentage points for the week ending Sept. 10, reaching 2.86 percent — a new low since Freddie Mac began conducting the survey in 1971. This time last year, the mortgage rates averaged 3.56 percent. Fifteen-year mortgages…
Read MoreU.S. News: Reverse Mortgage Can Provide Path to Paying for In-Home Care
Because of the new realities that have afflicted the American healthcare system and its capacity to provide care during the COVID-19 coronavirus pandemic, many seniors may be looking at options beyond nursing homes or care facilities out of a desire to remain as far away from the risk of infection as possible. Seniors in general…
Read More
