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The mortgage lending rate on a 30-year fixed rate loan was 6.99% last week, according to Freddie Mac, which tracks rates. Over the past year, the rate has averaged 7.01%. Over the past year, the ...
This is all due to the fact that the federal interest rate is not tied to mortgage rates, with different factors influencing if they go up or down. ... Don’t hold your breath for a major drop ...
The Fed has raised its target interest rate 11 times since March 2022, in an effort to bring down the rate of inflation to 2%. The current rate of 5.25% to 5.5% is its highest in 22 years.
The average 30-year fixed mortgage rate fell to 6.62% today, to its lowest level since May, after the Federal Reserve left interest rates unchanged and signaled three interest rate cuts next year.
The average 30-year fixed mortgage rate dipped back toward 7% this week, settling at 7.09%, according to Freddie Mac.This is the first time the weekly average rate has fallen in over a month.
Landslides and fallen trees due to the heavy rain and high wind gusts destroyed and damaged many homes and closed roads throughout California. Bel-Air had a peak 24-hour rainfall of 12.42 inches (315 mm) which equates to a 380-year return interval (0.3%).Los Angeles had been incorporating elements of a stormwater harvesting design to retain the ...
Prospective homebuyers that exited the market in 2023 due to high home prices and mortgage rates may fare better in 2024. A new Realtor.com report predicts that the average mortgage rate in 2024 ...
Southern California had become increasingly arid since late summer 2024, with storm systems predominantly affecting the Pacific Northwest and Northern California instead, as a result of the El Niño–Southern Oscillation (ENSO) shifting from El Niño to La Niña. La Niña conditions had emerged over the tropical Pacific Ocean by December 2024.
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