Mortgage Industry News
Mortgage Applications for New Home Purchases Inch Up by 1% from Last Year
The average loan size for new homes increased from $372,745 in July to $374,288 in August. Continue Reading Mortgage Applications for New Home Purchases Inch Up by 1% from Last Year
MBA Chief Argues Against Fannie-Freddie Merger
“Competition between Fannie Mae and Freddie Mac has been central to their success in providing liquidity and stability to the mortgage market,” Broeksmit explained. Continue Reading MBA Chief Argues Against Fannie-Freddie Merger
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
Mortgage Application Activity and Forbearance Levels Go in Decline
The MBA reported the total number of loans now in forbearance decreased to 0.40% as of Jan. 31. Continue Reading Mortgage Application Activity and Forbearance Levels Go in Decline
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...
Homeowners who locked in low mortgage rates have one reason to ‘celebrate’ right now, economist says
Source: Marketwatch --- The government’s inflation numbers confirmed that the price of literally everything has gone up. But an economist said that there’s one group who actually may have benefitted from rising costs. Inflation may be at a 41-year high of 9.1% in...
Mortgage Rates in the US Restart Climb, Increasing to 5.51%
Source: Bloomberg --- Mortgage rates in the US rose, resuming an upward climb that threatens to further cool the housing market. The average for a 30-year loan jumped to 5.51% from 5.3% last week, Freddie Mac said in a statement Thursday. It’s up from 3.11% at the...
Mortgage rates rebound as US economy comes to grips with an ‘uncomfortable’ future
Source: Yahoo Finance --- After a two-week break, U.S. mortgage rates began climbing again this week, a new report shows. The higher 30-year fixed-rate mortgage is becoming yet another headwind for the shaky economy amid the Federal Reserve’s war on inflation. The...
Portfolio mortgage lenders: What are they and how do you find one?
Source: Bankrate --- Portfolio lenders make loans in the usual way to consumers, but rather than sell the mortgages to agencies like Fannie Mae and Freddie Mac, they keep the loans on their books and often service them as well. Some 30 percent of all mortgages are...
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...
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