Source: Fortune —Â In the early ’80s, homebuilders mailed two-by-fours to then Fed Chair Paul Volcker in hope the central bank would relax its inflation fight that saw mortgage rates top 18%. Of course, the Fed didn’t back off until the 1981...
Source: Zillow —Â There were 590,000 new home sales nationwide in June (SAAR), down 8.1% from May and down 17.4% from June 2021, according to the U.S. Census Bureau. The median sales price of new houses sold in June was $402,400. The seasonally-adjusted estimate...
Source: npr  — With prices rising at their fastest pace in a generation, the Federal Reserve is ratcheting up its fight against inflation. On Wednesday, the Fed raised its benchmark interest rate by an additional three-quarters of a percentage point. This is...
Source: World Property Journal —Â Based on CoreLogic’s latest Single-Family Rent Index, U.S. single-family annual rent growth remained at a record high in May 2022, posting a 13.9% increase from May 2021. This growth matched April’s increase,...
Source: Fox Business —Â What this means:Â Mortgage refinance rates fell significantly today, with 30-year rates hitting their lowest levels in 34 days. Rates for 20-, 15- and 10-year refinances are also at their lowest levels since the beginning of the month....
Source: Mortgage News Daily — Some quick housekeeping before we dig into the headline: mortgage rates are slightly higher so far this week. The increases were in place on Monday. Tuesday started stronger, but most lenders pulled back to Monday’s levels...
Pennymac Raises Early 2027 Conforming Loan Limit to $850,000
