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In this photo taken Tuesday, June 9, 2015 a sold sign is displayed in the yard of a newly constructed home in the Briar Chapel community in Chapel Hill, N.C. Average long-term U.S. mortgage rates rose this week, reaching high levels for the year, according to data published by mortgage giant Freddie Mac on Thursday, July 2, 2015. (AP Photo/Gerry Broome)WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week, reaching high levels for the year.


In this June 4, 2015, photo, a real estate sign is posted in front of a newly constructed luxury home in Roswell Ga. Freddie Mac reports on average U.S. mortgage rates on Thursday, June 25, 2015. (AP Photo/John Bazemore)WASHINGTON (AP) — Average long-term U.S. mortgage rates were mixed this week, marking slight increases or declines but remaining close to high levels for the year.


CEO Samwer of Rocket Internet walks to the podium during their shareholder meeting in BerlinGerman e-commerce investor Rocket Internet won shareholder approval on Tuesday to raise as much as 4.5 billion euros ($5 billion) in the next five years to invest in new ventures and increase stakes in its existing start-ups. Europe's largest Internet company, founded in 2007, is viewed as a potential launch pad for future stock market listings of everything from online fashion to home furnishings and personal finance. It already has holdings in more than 100 start-ups and has big expansion plans for which it needs more cash.


In this photo taken Tuesday, June 9, 2015, a sold sign is displayed in the yard of a newly built home in the Briar Chapel community in Chapel Hill, N.C. Freddie Mac reports on average U.S. mortgage rates on Thursday, June 18 2015. (AP Photo/Gerry Broome)WASHINGTON (AP) — Average long-term U.S. mortgage rates eased this week after hitting their highest levels this year in the previous week.


A tour bus passes the United States Federal Reserve Board building in WashingtonBy Jonathan Spicer NEW YORK (Reuters) - The sharp bond market selloff is starting to pinch American consumers and companies, causing a mild economic tightening that, if sustained, could raise alarms at the Federal Reserve and even delay a plan to hike interest rates in coming months. U.S. mortgage rates have reached their highest level in a year-and-a-half, auto loans are getting a bit more expensive, and corporations across the board have seen their borrowing costs jump as U.S. and European debt retrenched in recent weeks. With benchmark U.S. government debt having jumped from 2.13 percent to as high as 2.49 percent so far this month, Fed officials headed into a policy meeting next week will be asking how long the selloff could last -- and how much it could slow the economic rebound from a winter slump.


This June 4, 2015, photo shows a new home development in Nashville, Tenn. Freddie Mac releases weekly mortgage rates on Thursday, June 11, 2015. (AP Photo/Mark Humphrey)WASHINGTON (AP) — Average long-term U.S. mortgage rates jumped this week to their highest levels this year, with the key 30-year rate topping 4 percent for the first time since late 2014.


FILE - In this Jan. 8, 2015, photo, a flag advertising a new home for sale flaps in the breeze in Richmond, Va. Freddie Mac reports on average U.S. mortgage rates on Thursday, June 4, 2015. (AP Photo/Steve Helber, File)WASHINGTON (AP) — Average long-term U.S. mortgage rates were flat to slightly lower this week, remaining near their highest levels so far this year.


sNew South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in JohannesburgSouth Africa's biggest insurer, Sanlam, reported on Wednesday a 17 percent jump in earnings for the first four months of this year as its personal finance division sales grew. Sanlam, which also has operations in Nigeria and 10 other African countries, said sales of its personal finance rose by 20 percent and new business grew by 15 percent to 68 billion rand ($5.5 billion) for the period to end-April. The life-insurer's emerging markets division grew 2 percent as the fall in oil prices hit commodity exporters such as Nigeria and growth in Sanlam's home market was modest, it said.


This Thursday, May 21, 2015 photo shows a house for sale in Culver City, Calif. Freddie Mac reports on average U.S. mortgage rates on Thursday, May 28, 2015. (AP Photo/Nick Ut)WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week to their highest level so far this year as new data showed strength in the housing market.


In this Jan. 8, 2015 photo, a sign with a sold sticker is posted in front of a row of new town homes in Richmond, Va. Freddie Mac reports on average U.S. mortgage rates on Thursday, May 21, 2015. (AP Photo/Steve Helber)WASHINGTON (AP) — Average long-term U.S. mortgage rates edged slightly lower this week after rising for three straight weeks.


The logo of of Rocket Internet, a German venture capital group is pictured in illustration photo in SarajevoGerman e-commerce investor Rocket Internet aims to list the shares in two of its holdings, Global Fashion Group and Global Online Takeaway Group, eight months after its own initial public share offer, monthly Manager Magazin said. Rocket Internet declined to comment on the report. While Berlin-based Rocket sees itself as building an e-commerce operating empire, some investors see it as a launchpad for future stock market listings of everything from online fashion to home furnishings to personal finance firms.


Realtors' signs are hung outside a newly sold property in a Vancouver neighborhoodBy Andrea Hopkins TORONTO (Reuters) - Sales of existing homes in Canada rose in April from March as home buyers were encouraged by low mortgage rates and a spring surge in listings, the Canadian Real Estate Association said on Friday. The industry group for Canadian real estate agents said sales activity grew 2.3 percent last month from March, the third consecutive monthly gain. CREA Chief Economist Gregory Klump said sellers in and around Toronto, Canada's largest housing market, had increasingly delayed listing their homes until spring. Prices continued to increase compared to a year earlier in most markets, with CREA's home price index up 4.97 percent from April 2014.


WASHINGTON (AP) — Average long-term U.S. mortgage rates are up for the third straight week.

People stand near a logo of Xiaomi ahead of the launching ceremony of Xiaomi Phone 4, in BeijingChinese smartphone maker Xiaomi Inc waded into China's red hot online finance arena on Monday with a new money market fund to compete against the likes of tech rivals Alibaba Group Holding and Tencent Holdings. Dubbed "Huoqi Bao", Xiaomi's new personal finance service will offer deposit rates higher than traditional Chinese banks and will be accessible via an app to be bundled with Xiaomi handsets. The service, a collaboration between Xiaomi and E Fund Management, one of China's largest wealth managers, will expand into offering personal lending and securities brokerage in the near future, Xiaomi said.


Handout of NerdWallet CEO Tim Chen speaking with VP of Growth & Marketing Stephanie Wei at their headquarters in San FranciscoBy Sarah McBride SAN FRANCISCO (Reuters) - NerdWallet said it had raised $64 million in its first round of funding, far more cash than it needs to run the personal finance startup, in part to underscore its growth and show it has the potential to one day be valued at over $1 billion. The cash, an outsized sum for initial funding, will serve as a signaling device as much as it will help NerdWallet expand, said founder and Chief Executive Officer Tim Chen. “The more talent, the better.” The funding round values NerdWallet in the mid-hundred millions, a person familiar with the situation said. Once a company hits a $1 billion valuation, it becomes what Silicon Valley calls a "unicorn." Since the beginning of 2014, just eight U.S. startups have raised Series A funding rounds of $50 million or more, according to CB Insights, a consultancy.


In this Friday, April 24, 2015 photo, Robert Almirall, director of marketing and special assets coordinator for Mederos & Associates Real Estate Inc., puts up a sign in front of a home in the Shenandoah neighborhood of Miami. Freedie Mac, the mortgage company, releases weekly mortgage rates on Thursday, May 7, 2015. (AP Photo/Wilfredo Lee)WASHINGTON (AP) — Average long-term U.S. mortgage rates are up this week to the highest level since mid-March.


In this April 13, 2015, photo, a sign points the way to a sales center for tract housing in Las Vegas. Freddie Mac reports on average U.S. mortgage rates on Thursday, April 30, 2015. (AP Photo/John Locher)WASHINGTON (AP) — Average long-term U.S. mortgage rates rose slightly this week, but remain near historic lows with the spring home-buying season underway and showing strong sales.


Coverdell Education Savings Accounts are similar to IRAs, in that they allow account holders to make contributions to an investment account. Those advantages certainly create an attractive option for parents, but as with any potential investment, there are benefits and drawbacks. In a Coverdell, however, there are no such restrictions. Joshua Sheats, a Florida-based certified financial planner and host of the Radical Personal Finance podcast, gives an example of a parent with investment expertise in a specific speculative market, such as bio-tech stocks.

FILE - In this May 14, 2014 photo, a new home is for sale in the Winthrop subdivision in Riverview, Fla. Freddie Mac reports on average U.S. mortgage rates on Thursday, April 23, 2015. (AP Photo/Chris O'Meara, File)WASHINGTON (AP) — Average long-term U.S. mortgage rates are down slightly this week and remain near historic lows.


FILE - In this Jan. 8, 2015 file photo, a realty sign is posted in front of a home for sale in Jackson, Miss. Freddie Mac reports on average U.S. mortgage rates on Thursday, April 9, 2015. (AP Photo/Rogelio V. Solis, File)WASHINGTON (AP) — Average long-term U.S. mortgage rates declined this week, approaching historically low levels with the spring home-buying season underway.


FILE - In this photo Dec. 16, 2014 file photo, a for sale by owner sign sits in front of a home in Richardson, Texas. Mortgage company Freddie Mac releases weekly mortgage rates on Thursday, April 2, 2015. (AP Photo/LM Otero, File)WASHINGTON (AP) — Average long-term U.S. mortgage rates barely moved this week, remaining close to historically low levels as the spring home-buying season gets underway.


FILE - In this Jan. 8, 2015 photo, a sign with a sold sticker is posted in front of a row of new townhomes in Richmond, Va. Mortgage giant Freddie Mac on Thursday, March 26, 2015 said the national average for a 30-year fixed-rate mortgage declined to 3.69 percent from 3.78 percent a week earlier. (AP Photo/Steve Helber, File)WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week for a second straight week, edging closer to historically low levels at the start of the spring home-buying season.


This Jan. 8, 2015 photo shows a realty sign in front of a home for sale in Jackson, Miss. Freddie Mac reports on average U.S. mortgage rates on Thursday, March 19, 2015. (AP Photo/Rogelio V. Solis)WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week, remaining near historically low levels at the start of the spring home-buying season.


In this Jan. 8 2015 photo, a sign advertises a home for sale in Cupertino, Calif. Freddie Mac, the mortgage company, releases weekly mortgage rates on Thursday, March 12, 2015. (AP Photo/Marcio Jose Sanchez)WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week yet remained near historic lows reached in May 2013.


This Jan. 8, 2015 photo shows a sign advertising lots for new homes for sale in Richmond, Va. Freddie Mac, the mortgage company, releases weekly mortgage rates on Thursday, March 5, 2015. (AP Photo/Steve Helber)WASHINGTON (AP) — Average long-term mortgage rates have fallen for the first time in four weeks and remain near historic lows reached in May 2013.


Anchorage, Alaska, tops this list of cities that have the country's hardest working residents, according to a report from personal finance site WalletHub.
WASHINGTON (AP) — Average long-term U.S. mortgage rates have edged up for a third straight week while remaining near their historically low levels reached in May 2013.

In this Jan. 8, 2015 photo, a flag advertising a new home for sale flaps in the breeze in Richmond, Va. The Commerce Department reports on U.S. sales of new homes in January on Wednesday, Feb. 25, 2015. (AP Photo/Steve Helber)WASHINGTON (AP) — Sales of new U.S. homes were basically flat in January, evidence that recent job gains and relatively low mortgage rates have yet to spur the real estate market.


People work on a construction site to build a new apartment building in Los Angeles, CaliforniaU.S. housing is set to gain steam this year as a strengthening jobs market offsets the drag from an expected increase in mortgage rates, a Reuters poll showed on Tuesday. "We expect the housing market to improve this year. It is only a matter of time until the improved jobs market has a positive effect on the housing market.


WASHINGTON (AP) — Average long-term U.S. mortgage rates have risen for a second straight week yet remained near historically low levels.

In this Jan. 8, 2015 photo, a sign with a sold sticker is posted in front of a row of new town homes in Richmond, Va. Freddie Mac reports on average U.S. mortgage rates on Thursday, Feb. 12, 2015. (AP Photo/Steve Helber)WASHINGTON (AP) — Average long-term U.S. mortgage rates rose this week yet remained near historically low levels.


In this Jan. 8 2015 photo, real estate agent Sam Golkar enters a house being offered for sale in Cupertino, Calif. Freddie Mac reports on average U.S. mortgage rates on Thursday, Feb. 5, 2015. (AP Photo/Marcio Jose Sanchez)WASHINGTON (AP) — Average long-term U.S. mortgage rates fell this week, resuming their downward trend of this year after rising slightly last week. Rates are near historically low levels.


An advertisement for a reduced price is seen outside of a home for sale in DallasU.S. homeownership fell to a 20-year low in the fourth quarter, but a sharp rebound in the rate at which Americans are setting up home is expected to help drive a pick-up in housing. Household formation, however, more than quadrupled to 1.7 million in the fourth quarter from only 356,000 in the same period in 2013. "The combination of a high share of young adults living in the parental home, falling mortgage rates and loosening credit means that the outlook for household formation is strengthening," said Paul Diggle, a property economist at Capital Economics in London. "Household formation is picking up fast enough to outpace construction and is likely to be channeled in a constructive manner, since rents and home prices continue to rise at a healthy pace," said Stephanie Karol, an economist at IHS Global Insight in Lexington, Massachusetts.


FILE - In this July 10, 2014, file photo, a sale pending sign is posted in front of a home for sale in Quincy, Mass. The National Association of Realtors releases its December report on pending home sales, which are seen as a barometer of future purchases, on Thursday, Jan. 29, 2015. (AP Photo/Michael Dwyer, File)WASHINGTON (AP) — Fewer Americans signed contracts to buy homes in December, a sign that low mortgage rates have yet to coax more buyers into the market.


WASHINGTON (AP) — Average long-term U.S. mortgage rates rose slightly this week after four straight weeks of declines, while remaining near historically low levels.

A sign marks a house for sale by the owner in the Capitol Hill neighborhood in WashingtonThe National Association of Realtors said on Friday existing home sales increased 2.4 percent to an annual rate of 5.04 million units last month. "The still-tight mortgage credit conditions and more challenging first-time homebuyer affordability that were revealed by the failure of home sales to continue recovering last year remain serious concerns as we head into 2015," said Ted Wieseman, an economist at JPMorgan in New York. First-time buyers made up 29 percent of transactions in December as well as for the year as a whole, well below the level needed to boost growth in the housing market.  For all of 2014, existing home sales fell 3.1 percent, the first annual drop in four years. The housing market has struggled to maintain momentum since stagnating in the second half of 2013 following a run-up in mortgage rates.


WASHINGTON (AP) — Average long-term U.S. mortgage rates fell for the fourth straight week, with the benchmark 30-year rate again marking its lowest level since May 2013. The average for a 15-year mortgage, a popular choice for people who are refinancing, slipped further below 3 percent.

Homes are seen for sale in the northwest area of PortlandNEW YORK, (Reuters) - Applications for U.S. home mortgages rose last week as mortgage rates continued to slide, bringing activity to a 17-month high for a second straight week, data from an industry group showed on Wednesday.


This Jan. 8, 2015 photo shows a home for sale in Charlotte, N.C. Freddie Mac reports on average U.S. mortgage rates on Thursday, Jan. 15, 2015. (AP Photo/Chuck Burton)WASHINGTON (AP) — Average long-term U.S. mortgage rates fell for the third straight week, with the benchmark 30-year rate again marking its lowest level since May 2013. The average for a 15-year mortgage, a popular choice for people who are refinancing, dipped below 3 percent for the first time since then.


TORONTO (Reuters) - Canadian home prices fell in December from a month earlier, their second consecutive monthly decline, the Teranet-National Bank Composite House Price Index showed on Wednesday. The index, which measures price changes for repeat sales of single-family homes, showed national home prices fell 0.2 percent last month. Prices ended 2014 up 4.9 percent from a year earlier, up from gains of 3.8 percent in 2013 and 3.1 percent in 2012, as historically low mortgage rates last year stimulated demand. Canada escaped the U.S. ...

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