Mortgage Industry News
Mortgage Rates Continue to Fall
“As rates continue to drop, the number of homeowners who have the opportunity to refinance is expanding,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates Continue to Fall
Mortgage Application Activity Drops by 1.2%
The FHA share of total applications increased to 19.9% from 19.1% the week prior. Continue Reading Mortgage Application Activity Drops by 1.2%
Mortgage Application Activity Slows Down
The Refinance Index decreased 4% from the previous week and was 45% higher than the same week one year ago. Continue Reading Mortgage Application Activity Slows Down
New Reports Find Mortgage Applications in Decline as Mortgage Affordability Frays
The average loan size for new homes increased from $400,930 in December to $403,416 in January. Continue Reading New Reports Find Mortgage Applications in Decline as Mortgage Affordability Frays
Mortgage Rates Inch Lower
The 30-year fixed-rate mortgage averaged 6.85% as of Feb. 20. Continue Reading Mortgage Rates Inch Lower
9 Steps to Getting the Perfect Mortgage as Rates Rise
Source: The Motley Fool --- During the heart of the pandemic, qualifying for an affordable loan was pretty easy for most home buyers. Rates repeatedly hit record lows and it was possible to get a 30-year fixed-rate mortgage for under 3.00% if you had reasonable...
Strong demand for mortgages
Source: Ekathimerini.com --- Demand for housing loans has continued unabated after the January-June semester, as after a long lull over previous years, households are scrambling to meet their housing needs while securing the long-term low fixed interest rates that...
What’s considered luxury real estate?
Source: Bankrate --- You’ve thumbed the glossary magazines, scanned the listings pics, binge-watched all the residential real estate shows. And still, you’re not sure what counts as luxury real estate, exactly. Is it a property priced at $1 million-plus? A home with...
US housing markets are slowing. Is Florida the exception?
Source: Tampa Bay Times --- After two years of near-nonstop growth, housing prices may have finally peaked in some U.S. cities, according to data from Florida Atlantic University. Still, experts predict that Florida’s real estate market will remain strong compared to...
Economist Joseph Stiglitz says there are 3 reasons why further Fed rate hikes might make inflation worse
Source: CNBC --- Federal Reserve officials have spent the last week indicating rate hikes will continue in order to bring down rising prices — but this risks intensifying inflationary pressures, according to a Nobel Prize-winning economist. “The real worry in my mind...
The U.S. housing market downturn will be worse in 2023, forecasts Goldman Sachs
Source: Fortune --- The U.S. entered into its first housing downturn of the post–Great Financial Crisis era. And the worst still awaits. On Tuesday, researchers at Goldman Sachs released a paper titled “The Housing Downturn: Further to Fall.” The investment bank now...
Mortgage Rates Rise to 5.66%, Weighing on Housing Market
Source: US News --- WASHINGTON (AP) — Average long-term U.S. mortgage rates rose to their highest level in two months this week, providing no relief for a slumping housing market. Mortgage buyer Freddie Mac reported Thursday that the 30-year rate rose to 5.66% from...
Fed seen sticking to interest rate hikes even as unemployment rises
Source: Reuters --- The Federal Reserve is seen sticking to sharp interest rate hikes in coming months to cool inflation, but rising U.S. unemployment and a slowdown in wage growth has traders betting that borrowing costs next year may not end up quite as high as...
Today’s Jumbo Mortgage Rates
Source: Motley Fool --- If you're looking to buy a home, you'll often hear that it's best to keep your housing costs on the low side so you don't risk overextending yourself. But in some markets, that's just not possible. If you're looking to buy a home in an...
Today’s Mortgage Rates, August 31, 2022 | Average Rate on Cusp of 6%
Source: Time --- In 2022, mortgage rates rose nearly to levels not seen since before the pandemic, after nearly two years of record-low rates. The refinance or purchase of your home doesn’t have to be put on hold. Although rates are higher than they were last year,...
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