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Articles by Peter Warden
Home Remodeling Trends: Spending Slows as Cash Remains King
"Annual spending on home improvements and repairs is expected to remain relatively flat through late 2027, according to the latest Leading Indicator of Remodeling Activity (LIRA) from the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University," says Harvard. "Year-over-year growth in renovation and repair spending is expected to reach just 1.5 percent by the third quarter." Of course, 1.5% is still growth. Or is it?
Mortgage Rates Today, November 5, 2026: Lower Rates in Response to Midterms. But Will It Last?
The average 30-year fixed rate mortgage was 7.09% yesterday, a decrease of 0.07% since the day before. The 15-year fixed mortgage rate stood at 6.3%, down by 0.02%. The 30-year FHA mortgage averaged 6.58% yesterday, having dropped by 0.04. Meanwhile, the 30-year jumbo mortgage rate was 7.32%, reflecting a decrease of 0.06%. The bigger picture Contrary to our expectations, it was probably the midterm results that helped mortgage rates fall moderately yesterday.
Mortgage Rates Today, November 4, 2026: What Caused Yesterday's Modest Rise?
The average 30-year fixed rate mortgage was 7.16% yesterday, an increase of 0.04% since the day before. The 15-year fixed mortgage rate stood at 6.32%, up by 0.04%. The 30-year FHA mortgage averaged 6.63% yesterday, having risen by 0.02. Meanwhile, the 30-year jumbo mortgage rate was 7.38%, reflecting a decrease of 0.02%. The bigger picture Whatever your news source, you probably thought the only story yesterday was the midterm elections.
Will the Midterms Move Mortgage Rates or the Housing Market?
"Midterm elections are the elephant in the room. But not in financial markets," said The New York Times last Friday. "Instead, what’s driving the markets are interest rates, inflation, artificial intelligence, tariffs, the Iran conflict, and the price of oil." Of course, mortgage rates are largely determined in the corner of the bond market where mortgage-backed securities (MBSs) are traded. So, what might be the impact of the midterms on bond markets specifically?
Mortgage Rates Today, November 3, 2026: Midterms and Data Unlikely to Affect Tuesday's Rates
The average 30-year fixed rate mortgage was 7.12% yesterday, an increase of 0.01% since the day before. The 15-year fixed mortgage rate stood at 6.28%, down by 0.07%. The 30-year FHA mortgage averaged 6.61% yesterday, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.4%, reflecting a decrease of 0.01%. The bigger picture Mortgage rates barely budged yesterday.
Renter Families Now Average 16 Years to Save to Buy a Home. In 2019, It Was 8 Years
"Economists argue that, overall, life is more affordable now," said The New York Times last month. "Our wages are far higher and we pay far less for many basic goods than we did 40 years ago.
Mortgage Rates Today, November 2, 2026: Rates Remain in a Strong Position
The average 30-year fixed rate mortgage was 7.11% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.34%, the same as one the day before. The 30-year FHA mortgage averaged 6.62% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 7.41%, reflecting no change. The bigger picture Last Friday was another good day for mortgage rates. Why?
Cost to Sell a Home Jumps 22% to Nearly $82,000, Study Finds
"Homeowners expected to spend an average of $26,883 on their home sale, but the real cost is more than 3x that much," according to a new report by Clever Real Estate. "Sellers report spending an average of $81,918 to sell their home — up 22% from the $67,245 they spent on average in 2025." The report's author, Jaime Dunaway-Seale, recently appeared on the Mortgage Research Network Podcast to discuss a separate Clever study on the housing markets where buyers have the most negotiating power.
Mortgage Rates Today, October 30, 2026: Rates at Lowest Level Since the Iran War Started
The average 30-year fixed rate mortgage was 7.18% yesterday, a decrease of 0.03% since the day before. The 15-year fixed mortgage rate stood at 6.38%, down by 0.04%. The 30-year FHA mortgage averaged 6.67% yesterday, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.44%, reflecting a decrease of 0.03%. The bigger picture "Ten-year Treasury yields [which have a close relationship with mortgage rates] dipped about 2 basis points ...
Aspiring Home Buyers Becoming More Realistic About the Housing Market
Veterans United Home Loans is a registered DBA of Mortgage Research Center, LLC, an affiliate of Three Creeks Media. A new survey from Veterans United, published Oct. 22, suggests aspiring home buyers are growing increasingly realistic about conditions in the housing market. More than half (57%) believe that mortgage rates are likely to be higher a year from now. However, just 32% say they would wait for rates to fall before purchasing a home.
Mortgage Rates Today, October 29 2026: The Fed's Favorite Gauge of Inflation Plus GDP Figures Are Due Today
The average 30-year fixed rate mortgage was 7.21% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.41%, down by 0.06%. The 30-year FHA mortgage averaged 6.68% yesterday, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.47%, reflecting a decrease of 0.01%. The bigger picture The Federal Reserve announced yesterday afternoon that it was leaving general interest rates unchanged.
Mortgage Rates Today, October 28 2026: It's Fed Day!
The average 30-year fixed rate mortgage was 7.21% yesterday, a decrease of 0.02% since the day before. The 15-year fixed mortgage rate stood at 6.47%, up by 0.05%. The 30-year FHA mortgage averaged 6.69% yesterday, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.48%, reflecting a decrease of 0.03%. The bigger picture Mortgage rates edged minimally lower yesterday, as markets remain transfixed by this afternoon's rate announcement by the Federal Reserve.
Will the Fed Hike Rates on Wednesday?
Professional and amateur forecasters agree that the Federal Reserve is unlikely to hike general interest rates on Wednesday, Oct. 28. But a large majority believes a rate rise is coming on Dec. 9. So, we're likely looking at only a six-week reprieve. Most expect a small, 25-basis-point (0.25%) hike in December, although a few say a 0.5% rise is possible. What Are the Odds? We rely mostly on the CME FedWatch tool when we're assessing the likelihood of a Fed rate cut or hike.
Mortgage Rates Today, October 27 2026: Tomorrow's Fed Rate Announcement Overshadows Everything
The average 30-year fixed rate mortgage is 7.21% today, a decrease of 0.02% since yesterday. The 15-year fixed mortgage rate stands at 6.47%, up by 0.05%. The 30-year FHA mortgage now averages 6.69%, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate is 7.48%, reflecting a decrease of 0.03%. The bigger picture Mortgage rates barely budged yesterday, so they remain at their lowest since Sep. 24.
Mortgage Rates Today, October 26 2026: Potentially Big Week for Rates
The average 30-year fixed rate mortgage was 7.24% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.45%, the same as one the day before. The 30-year FHA mortgage averaged 6.69% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 7.45%, reflecting no change. The bigger picture Mortgage rates start the week in a good place: at their lowest since Sep. 24. Two critical events in the next few days could send them either even lower or higher.
Housing Costs Are Driving Homelessness. Has Denver Found a Solution?
Last week, The New York Times grabbed our attention with its headline, We Know How to Fix Homelessness. Look at Denver. But before we get into possible solutions, let's demolish some myths.
Mortgage Rates Today, October 23, 2026: Rates Continue Modest Falls
The average 30-year fixed rate mortgage was 7.28% yesterday, a decrease of 0.03% since the day before. The 15-year fixed mortgage rate stood at 6.49%, the same as one the day before. The 30-year FHA mortgage averaged 6.77% yesterday, having dropped by 0.03. Meanwhile, the 30-year jumbo mortgage rate was 7.51%, reflecting a decrease of 0.05%. The bigger picture Yesterday, we wondered whether signs of an imminent escalation in the Middle East conflict might push mortgage rates higher on Thursday.
Mortgage Rates Today, October 22, 2026: Rates Just Inched Lower Yesterday
The average 30-year fixed rate mortgage was 7.31% yesterday, a decrease of 0.03% since the day before. The 15-year fixed mortgage rate stood at 6.49%, down by 0.03%. The 30-year FHA mortgage averaged 6.79% yesterday, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.56%, reflecting an increase of 0.02%. The bigger picture Mortgage rates barely budged yesterday despite a story that U.S. embassies in the Gulf were sending some non-essential staff stateside.
Want to Become a Landlord? A DSCR Mortgage Could Help
We were excited when we read a Wall Street Journal headline last week: A New Type of Mortgage Is Reviving Long Abandoned Neighborhoods. It was a little disappointing to discover that the mortgages in question were debt-service coverage ratio loans (DSCR mortgages), which have been around for about a decade. But these can be great for certain borrowers in certain places, so let's share what they're all about. What's Special About DSCR Mortgages?
Mortgage Rates Today, October 21, 2026: Market Blues Continue to Keep Rates High
The average 30-year fixed rate mortgage was 7.34% yesterday, an increase of 0.04% since the day before. The 15-year fixed mortgage rate stood at 6.52%, up by 0.01%. The 30-year FHA mortgage averaged 6.81% yesterday, having risen by 0.02. Meanwhile, the 30-year jumbo mortgage rate was 7.53%, reflecting a decrease of 0.04%. The bigger picture The Federal Reserve meets a week from today to decide whether to hike general interest rates.
Mortgage Rates Today, October 20, 2026: Rates Nudge Higher on Negative Market Sentiment
The average 30-year fixed rate mortgage was 7.3% yesterday, an increase of 0.04% since the day before. The 15-year fixed mortgage rate stood at 6.51%, up by 0.03%. The 30-year FHA mortgage averaged 6.78% yesterday, having risen by 0.05. Meanwhile, the 30-year jumbo mortgage rate was 7.57%, reflecting an increase of 0.04%.
Helping Your Kids Buy a Home? Avoid These Financial Pitfalls
Earlier this month, The Wall Street Journal published How to Give Your Kids Money for a House Without Things Getting Weird. And it was a useful reminder of the tax and other implications of buying one's children a home outright or chipping in toward the down payment. The information in this article is provided for educational purposes only and should not be considered tax advice. Consult a qualified tax professional before making any tax-related decisions. Who's Affected by Gift Taxes?
Mortgage Rates Today, October 19, 2026: Rates Near 3-Week Lows
The average 30-year fixed rate mortgage was 7.26% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.48%, the same as one the day before. The 30-year FHA mortgage averaged 6.74% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 7.54%, reflecting no change. The bigger picture Mortgage rates shrugged off two disastrous major inflation reports (the CPI and PPI) last week to end near a three-week low.
Americans Now Hold More Wealth in Stocks Than in Homes
On Tuesday, MarketWatch ran a somewhat alarming headline: "U.S. wealth has shifted to stocks from homes. There are big reasons to worry." Those reasons soon became clear. Stocks now make up 30% of all U.S. households' assets, while homeownership accounts for only 25%. Around 2005, that picture looked very different: Real estate assets made up more than 30% of household wealth, while stocks accounted for around 15%. What's so worrying about that turnaround, which began last year and has grown since?
Mortgage Rates Today, October 16, 2026: Why Rates Tumbled Yesterday Despite Terrible Inflation Data
The average 30-year fixed rate mortgage was 7.26% yesterday, a decrease of 0.2% since the day before. The 15-year fixed mortgage rate stood at 6.46%, down by 0.15%. The 30-year FHA mortgage averaged 6.74% yesterday, having dropped by 0.18. Meanwhile, the 30-year jumbo mortgage rate was 7.48%, reflecting a decrease of 0.11%. The bigger picture It's a truism that mortgage rates rise in response to hot inflation numbers.
2026 Midterm Elections: Housing and Property Tax Measures in 10 States
Most election coverage focuses on the 2026 midterm elections' impact on U.S. House and Senate majorities and governorships. But voters can change more than just their representatives when they vote in less than three weeks. In 10 states, they'll also get to decide on real estate-related ballot measures that can affect property taxes, down payment assistance, zoning, starter homes, and more.
Mortgage Rates Today, October 15, 2026: Retail Sales and Another Inflation Report Due Today
The average 30-year fixed rate mortgage was 7.45% yesterday, an increase of 0.06% since the day before. The 15-year fixed mortgage rate stood at 6.61%, up by 0.03%. The 30-year FHA mortgage averaged 6.92% yesterday, having risen by 0.04. Meanwhile, the 30-year jumbo mortgage rate was 7.59%, reflecting no change. The bigger picture Yesterday morning's consumer price index (CPI) was even worse than expected, which initially sent mortgage rates soaring.
Mortgage Rates Today, October 14, 2026: Today's Consumer Price Index Could Be Huge
The average 30-year fixed rate mortgage was 7.39% yesterday, a decrease of 0.07% since the day before. The 15-year fixed mortgage rate stood at 6.58%, down by 0.06%. The 30-year FHA mortgage averaged 6.87% yesterday, having dropped by 0.07. Meanwhile, the 30-year jumbo mortgage rate was 7.6%, reflecting a decrease of 0.06%. The bigger picture Mortgage rates fell moderately yesterday. It's no big mystery why.
MBA Forecasts Mortgage Rates to Stay Above 7% Through 2027
The Mortgage Bankers Association (MBA) kicked off its annual conference in Chicago over the weekend. And Mike Fratantoni, the association's chief economist, told the audience that he expects rates for 30-year fixed-rate mortgages (FRMs) to remain above 7% at least from now until the end of 2027. Unfortunately, Fratantoni isn't alone, and plenty of other mortgage experts share his fear. Of course, that doesn't necessarily mean they'll be right; economies are notoriously unpredictable.
Mortgage Rates Today, October 13, 2026: Stand By for Tomorrow's Consumer Price Index
The average 30-year fixed rate mortgage was 7.46% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.64%, the same as one the day before. The 30-year FHA mortgage averaged 6.94% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 7.66%, reflecting no change. The bigger picture Mortgage rates nudged lower again last Friday. Owing to yesterday's public holiday, that was the last time they moved.
Housing & Finance News Roundup: October 9, 2026
ICE: Changing Mortgage Market On Monday, Intercontinental Exchange, Inc. (ICE) released the October 2026 ICE Mortgage Monitor Report. Earlier that day, we wrote an update on adjustable-rate mortgages (ARMs). And given that those loans feature heavily in the new report, today we can bring readers even further up to date. But before we get to that, let's look at other information in the new mortgage monitor.
Mortgage Rates Today, October 9, 2026: Consumer Sentiment Index Due Today
The average 30-year fixed rate mortgage was 7.5% yesterday, a decrease of 0.02% since the day before. The 15-year fixed mortgage rate stood at 6.66%, down by 0.05%. The 30-year FHA mortgage averaged 6.94% yesterday, having risen by 0.02. Meanwhile, the 30-year jumbo mortgage rate was 7.65%, reflecting a decrease of 0.02%. The bigger picture Mortgage rates nudged lower yesterday, despite rising oil prices. Why?
Mortgage Rates Today, October 8, 2026: Rates Inch Lower for Second Day
The average 30-year fixed rate mortgage was 7.52% yesterday, a decrease of 0.02% since the day before. The 15-year fixed mortgage rate stood at 6.71%, down by 0.02%. The 30-year FHA mortgage averaged 6.92% yesterday, having risen by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.67%, reflecting no change. The bigger picture Mortgage rates started out badly yesterday morning but soon began to moderate.
No Farewell to ARMs: High Rates Are Driving Borrowers Back to Adjustable-Rate Mortgages
"Adjustable-rate mortgages can [have rates] significantly lower than their fixed-rate counterparts, real estate experts say, sometimes as much as a full percentage point, a difference that can potentially save home buyers thousands of dollars annually," said The New York Times on Oct. 1. "The ARM, as the loan is known, also comes with the risk that rates will continue to climb, hurting owners when the loan resets." On Sep.
Mortgage Rates Today, October 7, 2026: Fed Minutes Due This Afternoon
The average 30-year fixed rate mortgage was 7.54% yesterday, a decrease of 0.01% since the day before. The 15-year fixed mortgage rate stood at 6.73%, down by 0.01%. The 30-year FHA mortgage averaged 6.91% yesterday, having dropped by 0.02. Meanwhile, the 30-year jumbo mortgage rate was 7.67%, reflecting a decrease of 0.03%. The bigger picture Mortgage rates inched lower yesterday for no obvious reason. That may be a sign that they've reached a peak, but it's much too soon for certainty.
Mortgage Rates Today, October 6, 2026: Rates Resume Relentless Rise
The average 30-year fixed rate mortgage was 7.55% yesterday, an increase of 0.09% since the day before. The 15-year fixed mortgage rate stood at 6.74%, up by 0.12%. The 30-year FHA mortgage averaged 6.93% yesterday, having risen by 0.1. Meanwhile, the 30-year jumbo mortgage rate was 7.7%, reflecting an increase of 0.05%. The bigger picture There was no obvious trigger for yesterday's rising bond yields, one of which largely determines mortgage rates.
Home Equity Borrowing Soars 20% in Second Quarter
"Some $78.40 billion of new commitments for home equity lines of credit [HELOCs] and closed-end second liens [home equity loans or HELOANS] were originated during the second quarter, a 20.4% increase from the first three months of the year," according to Inside Mortgage Finance last Friday. Meanwhile, during the first six months of this year, use of those home equity products was up by 11.8%, compared with the same period last year, says Inside Mortgage Finance.
Mortgage Rates Today, October 5, 2026: Friday's Jobs Report Didn't Deliver the Expected Lower Rates
The average 30-year fixed rate mortgage was 7.46% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.62%, the same as one the day before. The 30-year FHA mortgage averaged 6.83% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 7.65%, reflecting no change. The bigger picture "A weak U.S. jobs report did what bad news hadn’t done in a while: It made U.S. debt look attractive again — albeit briefly," reported MarketWatch on Friday.
New Homes Now Cost Less Per Square Foot Than Existing Ones: Zillow
A new study by Zillow, published Tuesday, finds that new homes cost less than existing ones on average, both nationwide and in one-third of major metros. This is great news for cash-strapped (especially first-time) home buyers, who often struggle to afford essential repairs and maintenance on older homes. "New homes sold for a median of $205 per square foot in July, below the $212 median for existing homes," said Zillow.
Mortgage Rates Today, October 2, 2026: It's Jobs Report Day!
The average 30-year fixed rate mortgage was 7.51% yesterday, an increase of 0.08% since the day before. The 15-year fixed mortgage rate stood at 6.69%, up by 0.05%. The 30-year FHA mortgage averaged 6.89% yesterday, having risen by 0.08. Meanwhile, the 30-year jumbo mortgage rate was 7.64%, reflecting an increase of 0.03%. The bigger picture Mortgage rates climbed again yesterday, though not as sharply as they might have.
Mortgage Rates Today, October 1, 2026: Markets and Rates Still Fragile
The average 30-year fixed rate mortgage was 7.44% yesterday, a decrease of 0.02% since the day before. The 15-year fixed mortgage rate stood at 6.64%, down by 0.03%. The 30-year FHA mortgage averaged 6.81% yesterday, having dropped by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.62%, reflecting an increase of 0.01%. The bigger picture Yesterday's good inflation data helped mortgage rates tick a little lower, their first fall since Sep. 22.
It's Fine to Request Cash Wedding Gifts for Your Home Down Payment — WSJ
Those marrying in 2026 almost entirely feel free to ask their guests for cash gifts. A whopping 91% say there's nothing wrong with doing so, according to wedding website Zola. Another 4% would like to but fear being judged, and a further 4% disagree with the idea.
Mortgage Rates Today, September 30, 2026: Key Inflation Report Due Today
The average 30-year fixed rate mortgage was 7.46% yesterday, an increase of 0.08% since the day before. The 15-year fixed mortgage rate stood at 6.67%, up by 0.06%. The 30-year FHA mortgage averaged 6.82% yesterday, having risen by 0.05. Meanwhile, the 30-year jumbo mortgage rate was 7.61%, reflecting an increase of 0.08%. The bigger picture Mortgage rates surged higher again yesterday.
Mortgage Rates Today, September 29, 2026: Rates Still Heading the Wrong Way
The average 30-year fixed rate mortgage was 7.38% yesterday, an increase of 0.01% since the day before. The 15-year fixed mortgage rate stood at 6.61%, up by 0.01%. The 30-year FHA mortgage averaged 6.77% yesterday, having dropped by 0.03. Meanwhile, the 30-year jumbo mortgage rate was 7.53%, reflecting an increase of 0.11%. The bigger picture Mortgage rates barely budged yesterday, according to ICB.
Data Centers Are Outbidding Home Builders for Land, Labor, and Materials
"Spending on data centers and other information-processing hardware now exceeds housing investment," said a Fortune magazine headline last week. And, with tight timetables and virtually unlimited budgets, those constructing the centers are easily outbidding home builders for land and scarce resources, such as skilled labor and some construction materials. This is happening at a bad time for the housing sector.
Mortgage Rates Today, September 28, 2026: Let's Hope This Week Is Kinder to Rates than Last Week Was
The average 30-year fixed rate mortgage was 7.37% yesterday, unchanged since the day before. The 15-year fixed mortgage rate stood at 6.6%, the same as one the day before. The 30-year FHA mortgage averaged 6.8% yesterday, having stayed the same. Meanwhile, the 30-year jumbo mortgage rate was 7.42%, reflecting no change. The bigger picture This is a potentially big week for mortgage rates, with two of the three most important monthly economic reports scheduled for Wednesday and Friday.
Why a Housing Market Crash Is Unlikely Anytime Soon
Homeowners tend to dread crashes in the housing market because the latter destroy home equity (the positive difference between the home's market value and its current mortgage balance) and reduce net wealth. First-time homebuyers often hope for such crashes because there are rarely better opportunities to snap up bargains. However, first-time buyers may have to be patient, according to two leading experts last week.
Mortgage Rates Today, September 25, 2026: Rates Climbed Sharply Yesterday. But Just Maybe ...
The average 30-year fixed rate mortgage was 7.23% yesterday, an increase of 0.12% since the day before. The 15-year fixed mortgage rate stood at 6.48%, up by 0.15%. The 30-year FHA mortgage averaged 6.67% yesterday, having risen by 0.15. Meanwhile, the 30-year jumbo mortgage rate was 7.41%, reflecting an increase of 0.12%.
Mortgage Rates Today, September 24, 2026: Rates Jump as Oil Prices Rise
The average 30-year fixed rate mortgage was 7.12% yesterday, an increase of 0.06% since the day before. The 15-year fixed mortgage rate stood at 6.35%, up by 0.04%. The 30-year FHA mortgage averaged 6.51% yesterday, having risen by 0.01. Meanwhile, the 30-year jumbo mortgage rate was 7.29%, reflecting an increase of 0.01%. The bigger picture Mortgage rates climbed quite sharply yesterday, again chasing oil prices, as investors realized that an early peace deal with Iran is unlikely.
How to Sell a Home in a Buyer’s Market With 7% Mortgage Rates
"After years of sellers holding the upper hand, the US housing market is subtly shifting in buyers’ favor," wrote CNN Business on Monday. "Nationally, there are significantly more sellers than buyers in the market. Sellers outnumbered buyers nationwide by 58% in August — the widest gap since Redfin began tracking the data in 2013." This switch in the power dynamic between buyers and sellers has significant implications for both parties.
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