Mortgage rates were in decline for the first time since March, according to the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 7.09% as of May 9, down from last week when it averaged 7.22%. A year ago at...
The first quarter ended with 45.8% of mortgaged residential properties considered as equity rich, according to new data from ATTOM. This is down from 46.1% in the fourth quarter of 2023, marking the third straight quarterly decline, and it is also down from 47.2% in...
The median U.S. monthly housing payment set a record high at $2,894 during the four weeks ending May 5, up 14% from one year earlier, according to new data from Redfin (NASDAQ:RDFN). During this period, Redfin reported the median sale price reached $384,721, up 4.5%...
More people were seeking mortgages last week, according to data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, increased 2.6% on a seasonally adjusted basis from one week earlier while...
Lower-income Americans accounted for roughly one in five (20.6%) new mortgages issued in 2023, a level not seen since 2018, according to new data from Redfin (NASDAQ:RDFN). The newly reported level represents a step down from the progress that lower-income Americans...
The Federal Housing Administration (FHA) is extending its foreclosure moratorium for borrowers with FHA-insured mortgages in Maui County, Hawaii, through Jan. 1, 2025. The extension will provide homeowners impacted by the August 2023 wildfires with more time to obtain...
Hits and Misses for the Real Estate Week of Aug. 10-14
