New York (CNN Business) Mortgage rates are lower than they’ve been in years, causing a tsunami of refinancing. The average rate on a 30-year fixed rate mortgage fell to 3.93% last week for loans of $484,000 or less — the first time those loans have been below 4% in nearly three years, according to the […]

The Federal Reserve Bank of New York described U.S. home sales as “soft,” “anemic,” and “lackluster” in a Monday report. “Housing activity indicators remained soft in June,” the New York Fed said. “Existing home sales fell in June, while new home sales only partially rebounded. Single-family housing starts and permits remained anemic.” The report pointed to June’s existing home […]