Mortgage Industry News
reAlpha Mortgage Expands into Nevada Marketplace
With the new Nevada operations, reAlpha Mortgage is now licensed in 31 states. Continue Reading reAlpha Mortgage Expands into Nevada Marketplace
Mortgage Rates Rise for Second Straight Week
The 30-year fixed-rate mortgage averaged 6.34% as of Oct. 2. Continue Reading Mortgage Rates Rise for Second Straight Week
Mortgage Application Activity Remains Weak
The seasonally adjusted Purchase Index was down by 4% from one week earlier while the unadjusted index fell 3%. Continue Reading Mortgage Application Activity Remains Weak
Mortgage Rates in Mild Decline
The 30-year fixed-rate mortgage averaged 6.81% as of April 24. Continue Reading Mortgage Rates in Mild Decline
Mortgage Application Activity Stumbles by 12.7%
The seasonally adjusted Purchase Index decreased 7% from one week earlier. Continue Reading Mortgage Application Activity Stumbles by 12.7%
How do fixed-rate mortgages work? Is a fixed-rate loan best?
Source: The Mortgage Reports --- What is a fixed-rate mortgage? In mortgage terms, a fixed rate means the interest rate remains the same for the life of your home loan — keeping your monthly principal and interest payment consistent. The rate on a fixed mortgage is...
Mortgage financing options in a higher interest rate environment
Source: Consumer Financial Protection Bureau --- Over the past two years, interest rates have risen from historical lows to as high as 7% for 30-year fixed-rate mortgages. Interest rates have remained elevated at levels that haven’t been seen for nearly 20 years....
Mortgage refinance demand surged 6%, as rates dropped to the lowest level since September
Source: CNBC --- Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. Applications to refinance a home loan jumped 6% last week from the...
3 Signs You’re About to Use the Wrong Mortgage Lender
Source: The Ascent --- These days, signing a mortgage means taking on a really big financial commitment. Home values are still elevated on a national level, and mortgage rates are the highest they've been in decades. And so chances are, if you're taking out a...
Borrowers need to cut subscriptions before mortgages, say brokers
Source: FT Adviser --- Homeowners weighing up forbearance options in light of rising interest rates should be making cuts to their subscriptions before they consider making changes to their mortgages, brokers have said. This month, chancellor Jeremy Hunt and the...
Higher mortgage rates depress U.S. single-family housing starts, building permits
Source: Reuters --- WASHINGTON, Dec 20 (Reuters) - U.S. single-family homebuilding tumbled to a 2-1/2-year low in November and permits for future construction plunged as higher mortgage rates continued to depress housing market activity. The dour report from the...
What You Need to Earn to Buy a Home in the Largest U.S. Cities
Source: New York Times --- As prices rise, higher mortgage payments follow, and after nearly three years of rapid home appreciation during the pandemic, qualifying for a home loan is more difficult than ever. Today’s buyers also face the additional cost of rising...
Mortgage refinance demand surged 6%, as rates dropped to the lowest level since September
Source: CNBC --- Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. Applications to refinance a home loan jumped 6% last week from the...
High mortgage rates limit relocation options, Redfin says – Here’s where homebuyers are still moving to
Source: Fox Business --- The search for affordable housing remains a top motivator for homebuyers who are looking to relocate to a new city, according to Redfin’s third quarter migration report. In the third quarter of 2022, a record 24.2% of homebuyers looked to...
Thinking of Refinancing? Be Prepared for This Little-Known Cost
Source: The Ascent --- Right now isn't the best time to be hunting for a deal on a new mortgage loan, but what if you already own a home and are hoping to refinance it and get a different mortgage rate? Rates are up across the board, so you may not save money on...
