Mortgage Industry News
Fannie Mae Forecasts Declining Mortgage Rates for 2025 and 2026
The revised forecast was mirrored by a mild upward revision for predicted existing home sales in 2025. Continue Reading Fannie Mae Forecasts Declining Mortgage Rates for 2025 and 2026
Mixed Results in Latest Mortgage Rate Data
The 30-year fixed-rate mortgage averaged 6.65% as of March 13 Continue Reading Mixed Results in Latest Mortgage Rate Data
Mortgage Rates Record Slight Uptick
The 30-year fixed-rate mortgage averaged 6.49% as of Aug. 15, up from last week when it averaged 6.49%. Continue Reading Mortgage Rates Record Slight Uptick
Mortgage Application Activity Up Nearly 17%
The Refinance Index increased by a vibrant 35% from the previous week. Continue Reading Mortgage Application Activity Up Nearly 17%
Mortgage Credit Availability at 9-Month High
MBA’s Joel Kan attributed the rise to “increased conventional loan offerings such as ARMs and cash-out refinance loans.” Continue Reading Mortgage Credit Availability at 9-Month High
These are the 5 markets where home sales are cooling fastest: Sellers need to be ‘realistic’ about price, says broker
Source: CNBC --- After the frenzy of bidding wars, the U.S. housing market is starting to cool, particularly along the West Coast, as mortgage interest rates rise. That’s forcing some sellers to adjust. “Sellers have to be more realistic,” said Bill Kowalczuk, real...
Current State of the Housing Market
Source: Calculated Risk --- ...We are seeing a clear slowing in the housing market, with more price reductions, more inventory, and fewer sales. It will take some time to see the impact on house price growth, but that is coming too. Next week, existing home sales will...
Slowdown in Single-Family Permits in May 2022
Source: Eye on Housing --- Year-to-date ending in May, single-family permits declined in three out of the four regions. The South posted a moderate increase of 1.0% while the Northeast region reported the steepest decline of 11.7%. The Midwest declined by 11.2% and...
Home loan size retreats from record as mortgage application demand cools
Source: Fox Business --- The average size of a home purchase loan has pulled back from its record high as demand for mortgage applications fell for the second straight week. According to the Mortgage Bankers Association, the average purchase loan size fell to...
Builders Weigh-in on House Ways and Means Committee Hearing on U.S. Housing Crisis
Source: World Property Journal --- The National Association of Home Builders chairman Jerry Konter issued the following statement in response to this week's House Ways and Means Committee Hearing, Nowhere to Live: Profits, Disinvestment, and the American Housing...
Should I Buy a Home Right Now?
Source: Keeping Current Matters --- If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you...
Five things to know about the next US housing crisis
Source: Aljazeera --- As real estate in the United States remains strong despite rising interest rates, market analysts interviewed by Al Jazeera predict that the next housing crisis will centre around Americans locked out of homeownership. “That’s our big problem...
Is a 40-Year Mortgage a Good Idea?
Source: US News --- The most common mortgage loan terms are 15 and 30 years, but if you need a lower monthly payment, a 40-year mortgage may be an option. While this longer loan payoff period could reduce your mortgage payment and bring home affordability within...
Mortgage Giant Cuts Thousands Of Jobs—Warns Of ‘Accelerated’ Downturn As Housing Market Abruptly Collapses
Source: Forbes --- Mortgage originator loanDepot on Tuesday unveiled a plan to cut thousands of jobs and reduce costs “significantly” as higher interest rates sink mortgage demand—becoming the latest company to warn that the housing market is due for a steeper...
Mortgage Rates Edge Back Down. More Volatility Looms
Source: Mortgage News Daily --- Mortgage rates moved sharply higher last week relative to where they ended the previous week. In the 3 weeks before that, rates fell at one of the fastest paces on record, largely because the starting point was the highest level since...
