Long-term U.S. mortgage rates jumped this week to their highest level in nearly four years, a sign that the prospect of higher inflation is steadily increasing the cost of borrowing to buy a home. Mortgage buyer Freddie Mac says the average rate on 30-year, fixed-rate mortgages rose to 4.38 percent this week, up from 4.32 percent last week and the…
Americans signed more contracts to buy homes in June, snapping a three-month decline in pending sales. The National Association of Realtors says that its pending home sales index rose 1.5 percent in June to 110.2. The gain still puts the pace of contract signings below its March level. The index has increased just 0.5 percent over the past 12 months….
More Americans signed contracts to buy homes in December. The increase possibly reflects more people scrambling to purchase homes as mortgage rates have been rising and increasing the costs of ownership. The National Association of Realtors says its seasonally adjusted pending home sales index rose 1.6 percent to 107.3, a slight rebound after declining in November. Pending sales rose in…
