🌅 Good morning, RootBadger. Thursday opens with a tougher borrowing market and a reliable place to get housing guidance without starting from a random search result.
🗞️ Reuters morning read: The average rate on a U.S. 30-year fixed mortgage rose 19 basis points to 7.49% in the week ended October 2, its highest level since November 2023, according to the Mortgage Bankers Association. Reuters reports that total mortgage applications fell 4.2% from the previous week as refinancing dropped sharply and higher borrowing costs pushed some would-be buyers to pause.
Read more: Reuters — U.S. 30-year mortgage rate hits highest in nearly three years
🏠 Useful this morning: HUD’s housing-counselor directory can connect you with an approved agency for help with buying or renting, mortgage default, foreclosure avoidance, credit issues, or reverse mortgages. HUD says foreclosure-prevention and homeless counseling through its program are free; other services may be free or low-cost. You can search online or call 800-569-4287.
Source: HUD — Talk to a Housing Counselor
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