For first time since 2022, average long-term mortgage rate dips below 6%
The latest dip, its third decline in a row, brings it closer to its lowest level since Sept. 8, 2022, when it was 5.89%.
Mortgages
-
Area homebuilders hope for better year after 2022 slump
The industry had a tough time in 2022 following its busiest year since 2005 amid escalating mortgage rates and rising inflation.
Read More -
Lawsuit alleges Old National Bank redlined against Black Indy residents
The Fair Housing Center of Central Indiana, or FHCCI, brought the legal action Thursday after a multiyear investigation of the Indiana-based financial institution and meeting with bank officials.
Read More -
IBJ Podcast: Pete the Planner on the magic of a 15-year mortgage
Peter Dunn talks to guest host Lesley Weidenbener about all things home buying, including mortgages, determining how much house you can afford, why you shouldn’t put down less than 10% and why the idea of starter homes and family homes is silly.
Read More
Articles
Fed’s Waller says rate cut in March is ‘coin flip’ following strong US jobs report
Federal Reserve governor Christopher Waller also said that the Supreme Court’s decision to strike down many of Trump’s tariffs would likely have only a limited impact on the economy and inflation, and therefore wouldn’t affect his view on rates.
US homes sales fell sharply in January, even as mortgage rates continued to ease
Sales had their biggest annual and monthly drop in the West, which wasn’t as affect by last month’s winter storm as the other regions of the country.
Report: Indiana ranked 7th in U.S. for 2025 foreclosure activity
Nationwide, according to real estate analytics company Attom, 367,460 properties saw foreclosure filings in 2025, representing 0.26% of all U.S. housing units. That’s a 14% increase from 2024.
2025 home sales stuck at 30-year low with prices high and mortgages onerous
Economists generally expect mortgage rates to ease further this year, though most recent forecasts show the average rate on a 30-year mortgage remaining above 6%, about twice what it was six years ago.
A powerful force has been holding back the housing market. It’s finally easing.
The housing market recently crossed a noteworthy line: There are now more Americans with mortgage rates higher than 6% than below 3%.
Trump wants government to buy $200B in mortgage bonds to bring down mortgage rates
The average 30-year fixed rate mortgage was about 6.2% on Thursday, down from nearly 7% when President Donald Trump took office.
Average long-term mortgage rate ticks down
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, rose this week.
Republicans and Democrats pitch competing plans to tackle affordability
Lawmakers in both parties view simmering fury over the cost of living as the top issue in next year’s midterm elections and are pitching a growing profusion of proposals to tackle the notoriously difficult problem of affordability.
Federal Reserve cuts key rate but signals higher bar for future reductions
Wednesday’s cut reduced the Fed’s key interest rate by a quarter-point, to about 3.6%, the lowest it has been in nearly three years.
Federal agency boosts size of single-family loans government can guarantee to $832,750
The Federal Housing Finance Agency adjusts the limits of a confirming loan annually to reflect changes in U.S. home values, which have been rising this year.
White House’s 50-year mortgage proposal has one notable benefit, but some drawbacks
The White House says it is considering backing a 50-year mortgage to help alleviate the home affordability crisis in the country. But the announcement drew immediate criticism.
US home sales accelerated in September to their fastest pace since February
Mortgage rates started declining in July in the lead-up to the Federal Reserve’s decision last month to cut its main interest rate for the first time in a year amid growing concern over the U.S. job market.
Average rate on 30-year mortgage falls again, dips to lowest level in almost a year
Mortgage rates have been mostly declining since late July amid expectations that Federal Reserve would cut rates for the first time since last year.
Average rate on a 30-year mortgage falls to lowest level in nearly a year
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
Average rate on a 30-year mortgage drops to lowest level since October
Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also fell.
Homeowners turn to cash-out refinancing to take advantage of big gains in home equity
Cash-out refinances, in which homeowners take out a loan for more than they owe on their mortgage and pockets the difference, accounted for roughly 60% of all home loan refis in the second quarter.
Indiana-based Hallmark Home Mortgage to be acquired
One of the nation’s largest mortgage lenders is purchasing Hallmark, which has branches in Indianapolis, Brownsburg, Plainfield and elsewhere in Indiana.
Home ownership climbs further out of reach for most Americans
Based off the latest U.S. median home listing price, homebuyers need to earn $47,000 more a year to afford a home than they would have just six years ago.
Mortgage company Rocket continues acquisition spree with $9.4B deal
Rocket Cos. said Monday that bringing Mr. Cooper Group Inc. into the fold will create a business representing one in every six mortgages in the United States and give it almost 7 million additional clients.