Mortgage Industry News
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%
Mortgage Rates Continue to Slide
The 30-year fixed-rate mortgage averaged 6.09% as of Sept. 19, down from last week when it averaged 6.20%. Continue Reading Mortgage Rates Continue to Slide
Mortgage Application Activity Up 14.2%
The MBA also reported mortgage applications for new home purchases in August were up 4.4% year-over-year. Continue Reading Mortgage Application Activity Up 14.2%
Report: Mortgage Payments Cheaper Than Rent in 22 of Top 50 Metros
Zillow attributed the latest statistics to declining mortgage rates. Continue Reading Report: Mortgage Payments Cheaper Than Rent in 22 of Top 50 Metros
Housing market chills as mortgage rates, prices scare buyers
Source: AP News --- NEW YORK (AP) — Kyle Tomcak was looking for a home for his in-laws in the suburbs around Denver, something priced close to $450,000. Tomcak became dispirited as he lost out to investors fronting cash offers $100,000 over the asking price. Then...
Homebuyer Competition Drops to Lowest Level in Over Two Years
Source: Redfin --- The bidding-war rate dipped below 50% for the first time since the start of the pandemic in June as rising mortgage rates and inflation took a bite out of homebuyer budgets. Nationwide, 49.9% of home offers written by Redfin agents faced competition...
Should You Buy a Home with Inflation This High?
Source: Keeping Current Matters --- While the Federal Reserve is working hard to bring down inflation, the latest data shows the inflation rate is still going up. You no doubt are feeling the pinch on your wallet at the gas pump or the grocery store, but that news may...
First American: Potential home sales in June drops 2.5% monthly
Source: Scotsman Guide --- According to new figures from First American Financial Corp., a seasonally adjusted annualized rate of 5.47 million existing-home sales would represent a “healthy” pace of home sales for June. Potential home sales according to the company’s...
Why Pre-Approval Is a Game Changer for Homebuyers
Source: Keeping Current Matters --- If you’re planning to buy a home this year, you might have heard that pre-approval is a necessary step to take before starting out on your journey. But why is that? And is it still important in today’s shifting market? The truth is,...
Cash out refi vs. home equity loan: What you need to know
Source: Bankrate --- If you need cash and have a sizable amount of home equity built up, you may consider a cash-out refinance or a home equity loan. Both a cash-out refinance and a home equity loan allow you to borrow against your home’s equity, using your home as...
Wondering Where You’ll Move if You Sell Your House Today?
Source: Keeping Current Matters --- If you put a pause on your home search because you weren’t sure where you’d go once you sold your house, it might be a good time to get back into the market. That’s because today’s market is undergoing a shift, and the supply of...
What is going on in this market?
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] Where to start. Where to start. If you are leasing now but still on the home hunt – great news if you work with a mortgage broker. We...
Homebuilder sentiment plunges in July as buyers pull back
Source: CNBC --- Confidence among builders in the nation’s single-family housing market fell in July to the lowest level since the start of the pandemic. The National Association of Home Builders/Wells Fargo Housing Market Index, a survey designed to gauge market...
A Record Share of Homebuyers Relocate As High Prices, Mortgage Rates Push Them Toward More Affordable Areas
Source: Redfin --- Homebuyers are seeking out less expensive locales like Tampa and San Antonio, partly because the surging cost of housing and other goods is limiting their ability to buy homes in many U.S. cities. A record 32.6% of Redfin.com users nationwide looked...
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