U.S. Mortgage Rates Continue Downward Trend

Coming in at 6.76 percent to kick off the month of May According to Freddie Mac's latest Primary Mortgage Market Survey (PMMS), the average rate for a 30-year fixed mortgage in the United States declined to 6.76% this week, marking a continued easing in borrowing costs. Sam Khater "Mortgage rates again declined this week," said Sam Khater, Chief Economist at Freddie Mac. "In recent weeks, rates for...

Attendees encouraged by reverse mortgage conference in California

On Tuesday, the National Reverse Mortgage Lenders Association (NRMLA) held its first dedicated reverse mortgage industry event of the year. The association’s Western Regional Meeting in Irvine, California, included an estimated 150 registrants from 75 companies around the country and took place in the state that often leads the nation in reverse mortgage volume. Attendee reactions were generally...

4 charts that show why Florida’s housing markets are struggling

Florida’s housing markets were as hot as any after the COVID-19 pandemic began, but now they’re among the coldest. Stubbornly high mortgage rates, rapidly rising inventory and macroeconomic headwinds are impacting housing markets all over the country, but Florida is notable for both how far it’s fallen and how much it’s slumping. Here are four charts using Altos data that explain Florida’s...

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