Mortgage Coverage

Average long-term US mortgage rate rises to 6.57% this week, highest level since mid March

LOS ANGELES (AP) -- The average long-term U.S. mortgage rate rose this week to its highest level since mid March, driving up borrowing costs for prospective homebuyers facing a housing market that's constrained by a dearth of homes for sale.

By ALEX VEIGA, AP Business Writer

New mortgage fee canceled

A new mortgage fee that was under review has been rescinded.

WRAL 5 On Your Side

NC rep threatens legislation to block change in mortgage fees

Republican Patrick McHenry, chairman of the House financial services committee, sent a letter Thursday to the agency that established new rules that would lower mortgage fees on people with lower credit scores and raise them for people with higher scores demanding the change be reversed.

Keely Arthur, WRAL consumer reporter

Mortgage fees going up for some, down for others

The fees that come with buying a house are changing and not everyone thinks it's fair. Some with better credit scores will pay more, while some with lower credit scores will pay less.

Keely Arthur, WRAL consumer reporter

City of Raleigh program helps teacher purchase her first home

Raleigh offers multiple programs like homebuyer assistance to make the home buying process a little easier.

Beyla Walker, 2023 CBC-UNC Diversity Fellow

Moderating prices, rates put homeownership in reach for more Americans

Home sale prices may be moderating, with year-over-year price appreciation across the Triangle measuring 3.9% in January 2023 compared to January 2022, according to preliminary data from the Triangle Multiple Listing Service.

Now might be best time to buy a house in Triangle - here's why

For Triangle homebuyers, now might actually be a good time to start looking to buy a home, even with mortgage interest rates near 7% as of today.

Here's where there is stability in the Triangle real estate market

The latest data shows that the median sale price of real estate in Wake County fell in August - will prices continue to fall as mortgage rates rise?

Mortgage rates hit highest levels since 2008 - but don't expect a crash in Triangle home market

Mortgage rates as of today are at the highest levels since 2008, according to the latest data. Here's what that means for Triangle homebuyers.

These four factors are changing the real estate market in the Triangle

Since the beginning of the year, there have been four contributing factors that have now resulted in a changing real estate market in the Triangle.

Looking for an affordable home in Wake County? Good luck

WRAL TechWire takes a look at the most recent data on the Triangle's housing market, as a new report shows the cost of buying a home increased in July.

Mortgage demand sinks to 22-year low

According to the Mortgage Bankers Association, mortgage demand dropped over 6% last week compared to the prior week. That is reportedly the lowest level since 2000.

Prices are dropping for many homes in Raleigh area; listings are growing, too

Two indicators in Raleigh's real estate market show that buyers may be in a slightly better position than even a month ago. Listing prices for many homes have dropped - and there are more houses on the market.

Home affordability takes another plunge in Raleigh - but buying demand remains strong, agents say

Housing affordability has taken yet another plunge as home prices continue to rise, as do mortgage interest rates, outpacing wage growth.

Home prices ran hot in April - but has the market changed since?

New data on the U.S. housing market shows that home prices were still on the rise in April. But is the housing market changing?

Mortgage industry experiencing more layoffs, this time, at JPMorgan Chase

There will be hundreds of layoffs at JPMorgan Chase, in the company's mortgage division, as mortgage industry is taking a hit as interest rates spike.

Wake County real estate prices up in May even as lending activity, competition decrease

New data from the Wake County Register of Deeds shows that real estate prices continued to rise in May, even as interest rates rose as well. What’s that mean?

Raleigh, Charlotte homes among most 'overvalued' in U.S., report finds

An updated analysis of the nation's 100 most populous cities finds two North Carolina housing markets are among the top 15 most overvalued in the country.

Fannie and Freddie unveil plans to tackle the racial homeownership gap

Government-backed mortgage lenders Fannie Mae and Freddie Mac are opening programs to assist Black households in pursuing homeownership.

Layoffs hitting mortgage industry - including 48 more workers in Charlotte - here's why

A notice filed with the North Carolina Department of Commerce shows 48 workers will be laid off from Wyndham Capital Mortgage in Charlotte.

Jump in mortgage rates could add $100,000 to housing costs

The recent rise in U.S. mortgage rates could bump up the average mortgage payment by hundreds of dollars each month, potentially adding more than $100,000 in costs over the lifetime of a typical loan, a new study shows.

Gregory Schmidt, New York Times

Mortgage rates fell last week, but decline provides little relief to Triangle homebuyers

While the typical mortgage interest rate fell last week, they're still above 5% on average. That puts homebuyers in a tough spot.

Thinking about buying a house? Do it now as costs keep soaring, economist says

Home affordability has decreased to an all-time low for the fourth month in a row in the Triangle. And that's impacting job and housing markets.

Mortgage rates to increase soon as Fed hikes interest rates by half a percentage point

Families on the search for a new home need to pay close attention to the cost of today's interest rate hike. Mortgage rates are already the highest they've been in more than a decade.

Families expected to pay more for mortgages as rates rise

Families on the search for a new home need to pay close attention to the cost of today's interest rate hike. Mortgage rates are already the highest they've been in more than a decade.