Happy New Year 2025

Tag: Mortgage

  • Mortgage rates edge down | Fox Business

    Mortgage rates edge down | Fox Business

    Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler discusses President Donald Trumps impact on commercial real estate and how Americans are handling 7 percent mortgage rates.

    Mortgage rates moved slightly lower this week, but long-term rates remain elevated in the upper-6% range.

    Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage edged down to 6.89% from last week’s reading of 6.95%. The average rate on a 30-year loan was 6.64% a year ago.

    Elevated mortgage rates are dragging down demand in the housing market. (Justin Sullivan/Getty Images / Getty Images)

    “Mortgage rates have been stable over the last month and incoming data suggest the economy remains on firm footing,” said Sam Khater, Freddie Mac’s chief economist. “Even though rates are higher compared to last year, the last two weeks of purchase applications are modestly above what we saw a year ago, indicating some latent demand in the market.”

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    The average rate on the 15-year fixed mortgage fell to 6.05% from 6.12% last week. One year ago, the rate on the 15-year fixed note averaged 5.9%.

  • Angel Reese pays off mother’s mortgage in surprise birthday gift

    Angel Reese pays off mother’s mortgage in surprise birthday gift

    Angel Reese surprised her mom with a birthday gift that nearly brought her to tears. 

    Reese’s mother, Angel Webb Reese, was a guest on the WNBA star’s “Unapologetically Angel” podcast.

    At the end of the episode, Reese let her mother know that she had paid off her mortgage as part of her gift. 

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    Chicago Sky forward Angel Reese (5) looks on during the first half of a basketball game against the Las Vegas Aces at Wintrust Arena.  (Kamil Krzaczynski-USA TODAY Sports)

    “You said that if your mortgage was paid off that you would retire, or you won’t work, or you can pick if you want to work still, so your mortgage has been paid,” Reese said. 

    Webb Reese nearly dropped the cake she had been given, in disbelief.

    “What?” Webb Reese said, flabbergasted.

    “Today, your mortgage has been paid. You ain’t gotta worry about your mortgage no more. And if you want to still work and keep yourself busy, you can keep yourself busy,” Reese continued. 

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    Angel Reese with her mother, Angel Webb Reese on the right

    LSU Lady Tigers forward Angel Reese takes a photo for senior night with former LSU player and NBA champion Shaquille O’Neal, LSU Lady Tigers head coach Kim Mulkey, and Reese’s mother Angel Webb against the Kentucky Wildcats at Pete Maravich Assembly Center.  (Matthew Hinton-USA TODAY Sports)

    “Are you serious?” Webb Reese said, overwhelmed by Reese’s gift.

    “And when I move to Chicago this year — actually I’m getting a house, y’all — you can come stay with me whenever you want to,” Reese added. 

    “That was my biggest goal in life, to retire you. To pay your mortgage or whatever you wanted for you not to work.”

    Webb Reese started to tear up and then Reese came over to her and sang “Happy Birthday.”

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    Angel Reese looks on

    Angel Reese (5) of the Rose takes a moment against the Vinyl during a timeout in the first half of the Unrivaled women’s professional 3v3 basketball league at Wayfair Arena.  (Jim Rassol-Imagn Images)

    Webb Reese played for the University of Maryland Baltimore County (UMBC) and was inducted into the UMBC Athletics Hall of Fame. 

    Reese wore #10 at LSU once it became available to honor her mother, as Webb Reese wore #10 in her playing days.

    Now with the Chicago Sky, Reese dons #5.

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    Ryan Canfield is a digital production assistant for Fox News Digital.

  • Mortgage rates tick down | Fox Business

    Mortgage rates tick down | Fox Business

    Cushman & Wakefield Chairman of Global Brokerage Bruce Mosler discusses President Donald Trumps impact on commercial real estate and how Americans are handling 7 percent mortgage rates.

    Mortgage rates fell slightly this week, remaining stubbornly high while would-be buyers and sellers continue to wait for steeper declines.

    Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage ticked down to 6.95% from last week’s reading of 6.96%. The average rate on a 30-year loan was 6.63% a year ago.

    Newly finished developmennt of homes for sale, built by home builder KB Homes, are pictured in Carlsbad, California. (REUTERS/Mike Blake / Reuters Photos)

    “The 30-year fixed-rate has hovered between 6% and 7% for most of the last two and a half years. That trend continued this week, with the average rate remaining essentially flat at 6.95%,” said Sam Khater, Freddie Mac’s chief economist. “Driven by these higher rates and a persistent supply shortage, affordability hurdles still exist for many homebuyers and a significant number of them remain on the sidelines.”

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    The average rate on the 15-year fixed mortgage fell to 6.12% from 6.16% last week. One year ago, the rate on the 15-year fixed note averaged 5.94%.

  • Mortgage rates fall for first time in over a month

    Mortgage rates fall for first time in over a month

    Romer Debbas managing partner Pierre Debbas says the economic consequences from the California wildfires will continue to be an unfortunate story.

    Mortgage rates finally broke a six-week streak of increases, but the decline will not provide much relief, as long-term rates dipped just below 7%.

    Freddie Mac’s latest Primary Mortgage Market Survey, released Thursday, showed that the average rate on the benchmark 30-year fixed mortgage dropped to 6.96%, down from last week’s reading of 7.04%. The average rate on a 30-year loan was 6.69% a year ago.

    Mortgage rates fell back below 7% this week, but remain elevated. (Getty Images / Getty Images)

    “After crossing the 7%-mark last week, the 30-year fixed-rate mortgage saw its first decline in six weeks,” said Sam Khater, Freddie Mac’s chief economist. “While affordability challenges remain, this is welcome news for potential homebuyers, as reflected in a corresponding uptick in purchase applications.”

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    The average rate on the 15-year fixed mortgage fell to 6.16% from 6.27% last week. One year ago, the rate on the 15-year fixed note averaged 5.96%.