Mortgage Industry Adapts to Rising Interest Rates The U.S. mortgage industry is adapting to rising interest rates, transforming lending strategies, and borrower behaviors. This article explores the implications for lenders and borrowers, offering insights into new trends and strategies.

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Mortgage Rates Rise as Homebuyer Demand Remains Bright Spot

Sunday, Aug 23 2020
Lending
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Long-term mortgage rates have risen but remain near historic lows, amid mixed signals on the broader economy. So reports the Associated Press.

The 30-year fixed-rate mortgage averaged 2.99% in the week ending August 20, according to Freddie Mac, up from 2.96% the previous week but still down from 3.55% a year earlier.

Construction of new homes has increased for three straight months, as demand for purchasing a home has given a boost to an economy otherwise battered by the coronavirus.

Read the full article from the Associated Press. 

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