The Federal Reserve cut rates again. Here’s what it means for you. GETTY The Federal Open Market Committee decided to cut the federal funds rate yet again today, lowering its target range to 1.5% to 1.75%. This marks the third time the Fed has cut rates in as many months.Read More →
Mortgage rates fell yet again on a weekly basis thanks to the declining yield on Treasury notes. The 30-year fixed-rate mortgage averaged 3.57% during the week ending Oct. 10, down 8 basis points from the previous week, Freddie Mac FMCC, -1.75% reported Thursday. This is a stark change from a year ago when theRead More →
Homeowners rushed to take advantage of a sizable drop in mortgage interest rates last week, but potential buyers were unimpressed. Total mortgage application volume rose 5.3% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 46.5% higher than a year ago, when rates wereRead More →
Indian mortgage lender Dewan Housing Finance Corp Ltd (DHFL) said it had only been able to make a 40 percent payment on unsecured commercial papers due on Tuesday, but vowed to pay the remaining 2.25 billion rupees ($32.49 million) in the coming days. India’s shadow banking sector has been thrownRead More →