Mortgage Industry News
Mortgage Application Activity Surges by 20%
The Refinance Index increased 35% from the previous week – the highest level in six months. Continue Reading Mortgage Application Activity Surges by 20%
United Wholesale Mortgage in AI Partnership with Google Cloud
UWM will integrate Google Cloud AI and machine learning tools into its lending platform. Continue Reading United Wholesale Mortgage in AI Partnership with Google Cloud
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
Tech Trends: How Zillow is Using Artificial Intelligence
An overview of how Zillow is utilizing artificial intelligence. Continue Reading Tech Trends: How Zillow is Using Artificial Intelligence
Mortgage Rates Plunge to Lowest Level in Over a Year
The 30-year fixed-rate mortgage averaged 6.47% as of Aug. 8. Continue Reading Mortgage Rates Plunge to Lowest Level in Over a Year
4 Tips to Avoid Overpaying in Today’s Changing Housing Market
Source: Money --- Since the start of the coronavirus pandemic, homebuyers have grown accustomed to overpaying and playing a risky game of bidding wars and waived contingencies. In a recent survey by Money and Morning Consult, 36% of people who purchased a home in the...
How will the Fed interest rate hike affect you?
Source: The Daily News Online --- (TNS) – Consumers are already paying more for gas, groceries and everyday items, but they should expect to fork over more in other parts of their lives after Wednesday’s interest rate increase. The Federal Reserve’s move to rein in...
43% of homeowners have delayed home improvements and maintenance due to inflation. Here’s why that’s risky
Source: CNBC --- For homeowners, big projects and purchases may be another casualty of rampant inflation, new research suggests. Overall, 60% of homeowners in a recent survey are less comfortable making large purchases for their home or household because of rising...
Surging mortgage rates hitting first-time homebuyers ‘the hardest’: Real estate expert
Source: Fox Business --- While the real estate market shows signs of cooling down after the 30-year fixed mortgage rate hit its highest level since 2008, one expert issued a timely warning to first-time homebuyers: "We've seen rates even above 6%, and it's really...
Housing market slows retreat from rising seas, bigger storms
Source: AP --- Chuck and Terry Nowiski lived in their country-style farmhouse with a wrap-around porch for 36 years before it flooded. After hurricanes Matthew and Florence, they said “yes” to the state’s offer to buy their place and tear it down. Nearly three years...
Housing industry insider warns market seeing signs of a ‘real slowdown’
Source: Fox Business --- The National Association of Home Builders warned on Wednesday that soaring inflation and higher mortgage rates are slowing home sales, with CEO Jerry Howard calling the combination a "perfect storm." Howard told "Varney & Co." on Wednesday...
The Fed plans to ‘reset’ the housing market—raising the likelihood of falling home prices
Source: Fortune --- It’s not just about how expensive housing became—it’s how fast it got there. It only took 24 months for U.S. home prices to soar a staggering 37%. For comparison, the biggest two-year spike leading into the 2008 housing crash was 29%. Heading into...
Utah housing prices soar to new records, but is a buyer’s market coming?
Source: KUTV --- SALT LAKE CITY (KUTV) — Housing prices along the Wasatch Front have soared to record levels yet again. New numbers from UtahRealEstate.com, provided to KUTV 2News by the Salt Lake Board of Realtors, show the median sales price for a single-family home...
Housing Market Update: Share of Homes with Price Drops Reaches New High as Mortgage Rates Top 2008 Levels
Source: Redfin --- The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers. Still, homebuying has never been more expensive. The...
Homebuilder sentiment drops to lowest level in two years as housing demand slows
Source: CNBC --- Sentiment among the nation’s homebuilders fell for the sixth straight month to the lowest level since June 2020, when the economy was grappling with shutdowns stemming from the Covid pandemic. The National Association of Home Builders/Wells Fargo...
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