Mortgage Industry News
Mortgage Rates in Mild Decline
The 30-year fixed-rate mortgage averaged 6.85% as of June 5, down from last week when it averaged 6.89%. Continue Reading Mortgage Rates in Mild Decline
Report: Fewer Home Purchase Loans During Q1
ATTOM found the total dollar value of loans was down by 18% to $478 billion. Continue Reading Report: Fewer Home Purchase Loans During Q1
Mortgage Rates Stay Flat Ahead of Holiday Weekend
The 30-year fixed-rate mortgage averaged 6.81% as of Nov. 27. Continue Reading Mortgage Rates Stay Flat Ahead of Holiday Weekend
Mortgage Application Activity Rises by 6.3%
The refinance share of mortgage activity decreased to 38.8% of total applications from 41% the previous week. Continue Reading Mortgage Application Activity Rises by 6.3%
Mortgage Rates Rise Again
The 30-year fixed-rate mortgage averaged 6.84% as of Nov. 21, up from last week when it averaged 6.78%. Continue Reading Mortgage Rates Rise Again
Mortgage rates collapse on softer inflation data
Source: Housing Wire --- Finally, some good news: the growth rate of inflation is cooling off for now, and with the CPI inflation report being positive, the 10-year yield fell noticeably, and mortgage rates will fall with that! So, the question is, are we reaching the...
Local homes sales drop as mortgage rates rise
Source: WWNYTV 7 News --- WATERTOWN, New York (WWNY) - Mortgage rates are right around 7 percent for a 30-year fixed rate. Nationally, rates are at their highest since 2006 and they’ve nearly doubled since last year. So, what is this doing to the local housing market?...
Should You Pay Points to Get a Lower Mortgage Rate?
Source: Yahoo! Finance --- With mortgage rates near 20-year highs, some homebuyers are struggling to afford homes. The average rate for a 30-year fixed mortgage was 6.95% in November’s first week, dipping from a 7.08% peak a week earlier, according to Freddie Mac...
Marry the House, Date the Mortgage Rate – Does It Work?
Source: Yahoo! --- The average U.S. rate for a 30-year fixed mortgage reached a 20-year high of 7.08% in the final week of October, more than doubling from a year earlier, according to Freddie Mac (FMCC). Homebuyers aren’t happy. On a $350,000 home loan, a mortgage...
Fed sees risk of big declines in still-lofty US house prices
Source: The Business Times --- THE Federal Reserve suggested on Friday (Nov 4) that lofty home prices could be susceptible to steep declines after big run-ups in recent years on the back of ultra-low interest rates. “With valuations at high levels, house prices could...
Mortgage rates just dipped, and home prices may be ‘reaching the peak’ — but buyers hoping for a free-fall ‘will be disappointed’
Source: Yahoo! --- After climbing above 7% for the first time in 20 years, U.S. mortgage rates moved back down this week even as the housing market continues to reel from high borrowing costs. Rates also dipped despite the Federal Reserve announcing another hike of...
Why 7% Mortgage Rates Are Such a Pain
Source: Next Advisor --- The average 30-year mortgage rate is higher than it’s been in 20 years. Last week, it reached 7%, and it’s still inching higher. But the most startling thing might be just how quickly it got there. A year ago, it was 3.24%. That’s a concerning...
Mortgage Rates Dip Below 7% In The Wake Of Declining Buyer Demand
Source: Forbes --- Mortgage rates slipped below 7% this week, but it wasn’t enough to boost housing activity as mortgage applications continued to decline amid the Federal Reserve hiking its benchmark interest rate for the sixth time this year. The average 30-year,...
November and December are historically 2 of the 3 best months to buy a home if you want a deal. 6 economists and real estate pros on whether that trend will hold in 2022
Source: Market Watch --- Winter is coming. And in the case of real estate, that may be a good thing — at least for buyers looking for a lower priced home. Indeed, a 2021 analysis from real estate research firm ATTOM Data Solutions found that October, November and...
Fed’s latest hike will push up mortgage rates
Source: The Hill --- The Federal Reserve’s latest interest rate hike Wednesday of 0.75 percentage points is expected to intensify pressure on the housing market while pushing up mortgage rates that already have reached nearly 20-year highs. The interest hike announced...
