Long-term US mortgage rates have dipped under 3% (July 1)
Mortgage rates in the United States fell, dipping back below 3 percent.
The average for a 30-year loan was 2.98 percent, down from 3.02 percent last week, Freddie Mac said in a statement Thursday.
Borrowing costs, which hit a record low of 2.65 percent in January, have seesawed within a few basis points of 3 percent since mid-April. Investors are anticipating Friday’s release of the June jobs report, while monitoring the pace of inflation and keeping a close eye on the Federal Reserve, which is widely expected to taper its bond purchases in the coming months.
Financial crisis scars tie up US$8 1T in U S home equity
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Financial crisis scars tie up US$8 1 trillion in U S home equity
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Transcript:
David Muhlbaum: With home prices on a tear, you might have more money in your house than you think. By that we mean home home equity: the value of your property minus whatever you still owe on it. But turning that into cash that you can put to use can be complicated. We ll dig into the equity market with an expert. Also, you might have heard of sell in May and go away. Well, should you? All coming up in this episode of
Your Money s Worth. Stick around.
David Muhlbaum: Welcome to
Your Money s Worth. I m Kiplinger.com senior online editor David Muhlbaum, joined by my cohost, senior editor Sandy Block. How re you doing, Sandy?
This Old House
How to Fund Your Next Home Renovation
With interest rates still low, here’s a look at the best ways to pay for big-ticket home improvements.
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Has more time at home given you ambitions for upgrading your surroundings? Maybe you’re yearning for a “sanity shed” where you can take undisturbed work calls in the backyard. Or you have visions of a family room refresh that also creates space for a family study hall.
Ways to Pay for a Home Remodel
Once you’ve talked to contractors and worked up a remodeling budget with room for unexpected expenses, of course the next step is finding the funds. Do you dip into savings or borrow the money?