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Mortgage rates are at near-record lows as many millennials are hitting their 30s – the age when many people traditionally become homeowners. Yet the low rates are unlikely to significantly increase.
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Homeowners are rushing to refinance mortgages as rates tumble but the low borrowing costs aren’t motivating buyers. Total mortgage applications increased 1.5% from a week earlier, the Mortgage Bankers.
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Don’t miss these top stories: analysts expect the Federal Reserve to cut rates again later this month. Retailers push store cards with deep discounts, but low-credit-score shoppers often fail to.
WASHINGTON (Reuters) – U.S. homebuilding fell for a second straight month in June and permits dropped to a two-year low, suggesting the housing market continued to struggle despite declining mortgage.
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Swings in global interest rates, partly a result of the U.S. trade tensions in China, appear to be holding back some would-be.
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