By Alex Veiga Freddie Mac’s chief economist said rates will continue to go down as inflation decelerates. Mortgage rates are at the lowest level since May. LOS ANGELES — The average long-term U.S. mortgage rate eased this week, welcome news for prospective homebuyers as the spring homebuying season approaches. The average rate on a 30-year mortgage fell to 6.63% from 6.69% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.09%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell this week, pulling the average rate down to 5.94%
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By Joanne B. Lambert, Damon Silver and John A. Snyder Real estate companies using metrics-tracking tech should be cautious of the legal and regulatory implications. NEW YORK – Real estate businesses frequently operate multiple websites. These may include corporate websites, websites for each of their properties and websites for their apps and ancillary service offerings. To maximize the convenience and insights from their websites, real estate businesses often use a variety of website tracking technologies to better understand how visitors interact with their sites, to improve those sites and to develop and execute advertising and marketing campaigns. By managing these
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In Florida, housing costs as a percentage of income with and without a mortgage stands at 21% and 10%, respectively. TAMPA, Fla. – U.S. Census Bureau data show that nearly 63% of owner-occupied housing units are mortgage free for homeowners age 65 and up, but fewer than 28% of homeowners younger than age 65 have paid for their homes in full. Housing costs are the largest chunk of household budgets and inflation has made it harder for some to pay their mortgages. The Federal Reserve Bank of New York’s quarterly data shows that during the Great Recession, delinquency rates on
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