Beat High Rates With an Assumable Mortgage

Assumable mortgages, with low rates transferred from a homeowner to a buyer, are making a comeback but the process can be difficult.

Long-Term Mortgage Rates Decline for a Third Week

The average rate on a 30-year mortgage fell to 6.94% from 7.02% last week and borrowing costs on 15-year fixed-rate mortgages dipped 6.24% from 6.28%.

April New Home Sales Decline

New home sales in the United States fell in April by 4.7% compared to the previous month. The average sale price nationally was $505,700.

Policymakers See Longer Path to Rate Cuts

The Fed said higher rates might be having a smaller effect on inflation because, in part, many homeowners locked in low mortgage rates during the pandemic.