Average long-term US mortgage rate hovers near 7%

The average 30-year fixed loan was 7.08% this week, according to Bankrate’s latest survey of large lenders. Here’s what a monthly mortgage payment at the current rate would look like.

Marcia Fudge steps down as HUD secretary

Housing and Urban Development Secretary Marcia Fudge announced Monday that she would resign her post, effective March 22, saying she was leaving “with mixed emotions."