The average rate on 30-year fixed home loans this week dropped to the lowest of the year, Freddie Mac said Wednesday. The closely watched housing market benchmark averaged 6.15% as of Wednesday, compared with 6.18% last week and 6.91% a year earlier.
The FHFA's measure of home prices rose by 0.4% in October after a revised 0.1% decrease in the previous month, well above a 0.1% gain expected in a survey compiled by Bloomberg. Prices were up 1.7% from a year earlier in October. Home prices rose in October in seven of the nine US regions, led by a 1% increase in the West South Central region.
Affordability in the US housing market is expected to improve next year amid lower mortgage rates and muted price growth, News Corp's Realtor.com said in a report on Wednesday. The 30-year fixed mortgage rate in the US was 6.19% as of Dec. 4, compared with 7.04% in mid-January, Freddie Mac data showed.
The FHFA's measure of home prices held steady in September after an unrevised 0.4% increase in the previous month, below a 0.2% gain expected in a survey compiled by Bloomberg. Prices were up 1.7% from a year earlier in September. For the third quarter as a whole, home prices were up 0.2% from Q2 and up 2.2% from Q3 2024, slower than a 3.1% four-quarter gain in the previous quarter.
KKR entered a multi-year private credit partnership with Sallie Mae, Sallie Mae said Wednesday. Under the partnership, KKR-managed credit funds and accounts will acquire an initial seed portfolio of Sallie Mae's private education loans and at least $2 billion in newly originated loans annually for an initial three-year term through KKR's asset-based finance strategy, Sallie Mae said.
Walker & Dunlop (WD) said Monday it arranged $625.3 million in fixed-rate Freddie Mac loans to refinance eight multifamily properties for IMT Capital. The financing replaces existing loans on eight garden-style communities totaling 3,096 units in San Diego, Los Angeles, San Francisco, Denver, Atlanta and Nashville, the company said.
The FHFA's measure of home prices rose by 0.4% in August after a revised flat reading in the previous month, above the 0.1% decrease expected in a survey compiled by Bloomberg as of 7:45 am ET. Prices were up 2.3% from a year earlier in August. Sale prices were up in seven of the nine regions from the previous month, led by a 1.2% increase in the Middle Atlantic region.
In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.
Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.
Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
Log In Required
Publication Date