More than nine of every 10 U.S. homeowners with mortgages (91.8%) have an interest rate below 6%, according to a new report from Redfin (NASDAQ:RDFN). This is slightly below the record high of 92.9% hit in mid-2022. Redfin also noted that 82.4% of mortgaged homeowners...
There was an increase of activity in the mortgage application space, according to new data from the Mortgage Bankers Association (MBA) covering the week ending June 9. The Market Composite Index, a measure of mortgage loan application volume, was up by 7.2% on a...
Mortgage credit availability was something of an elusive commodity last month, according to the Mortgage Credit Availability Index (MCAI) data from the Mortgage Bankers Association (MBA). The MCAI dropped by 3.1% to 96.5 in May – the index was benchmarked at 100 in...
San Diego-based Guild Mortgage (NYSE: GHLD) has unveiled its 1% Down Payment Advantage program. Unlike the traditional 3% down payment that is the minimum required for conventional loans, the 1% Down Payment Advantage program allows homebuyers to purchase a home with...
Mortgage rates went into minor decline after three weeks in ascension, according to the latest Primary Mortgage Market Survey from Freddie Mac (OTC:FMCC). The 30-year fixed-rate mortgage averaged 6.71% as of June 8, down from last week when it averaged 6.79%. A year...
Now, here is some news that will not sit well with our mortgage banking friends: new data from Redfin (NASDAQ:RDFN) has determined one-third (33.4%) of U.S. home purchases in April were all-cash transactions, up 30.7% one year earlier and the highest share in nine...
