Refinancing helped fuel an increase in mortgage application activity for the week ending May 17, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, increased 1.9% on a...
The U.S. Department of Veterans Affairs announced plans to publish a circular that would address the buyer commission prohibition on VA loans. The circular, which is planned to be issued by June 12, would address the changes to broker commissions enacted by the...
A total number of 110,000 homeowners were in forbearance plans during April, according to data from the Mortgage Bankers Association (MBA). The total number of loans in forbearance remained unchanged at 0.22% from one month earlier. Last month, the share of Fannie Mae...
Two in five (39.7%) new mortgages issued in 2023 went to homebuyers under the age of 35, according to new data from Redfin (NASDAQ:RDFN). During 2013, more than one-quarter (26.5%) of buyers were between the ages of 35 and 44, while those between 45 and 54 accounted...
Mortgage rates registered a decline in the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.02% as of May 16, down from last week when it averaged 7.09%. A year ago at this time, it averaged 6.39%. The...
Mortgage applications activity recorded a very mild upswing last week, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s of mortgage loan application volume, increased by 0.5% on a seasonally adjusted basis for the...
Hits and Misses for the Real Estate Week of March 23-27
