Mortgage Industry News
Mortgage Credit Availability Inched Up During August
“Mortgage credit availability increased slightly in August, driven by a small increase in ARM product offerings, which was similar to what we saw in July,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Inched Up During August
Mortgage Application Activity Up 9.2%
The seasonally adjusted Purchase Index increased 7% from one week earlier but the unadjusted index retreated by 6%. Continue Reading Mortgage Application Activity Up 9.2%
Mortgage Rates Go Into Decline
The 30-year fixed-rate mortgage averaged 6.89% as of Feb. 6. Continue Reading Mortgage Rates Go Into Decline
loanDepot and Onx Homes Announce New Joint Venture
The companies did not announce the leadership for Onx X+ Mortgage. Continue Reading loanDepot and Onx Homes Announce New Joint Venture
Mortgage Application Activity Heats Up
The refinance share of mortgage activity increased to 39.0% of total applications from 37.1% the previous week. Continue Reading Mortgage Application Activity Heats Up
Mortgage Rates Jump Higher. Is The Recovery Over?
Source: Mortgage News Daily --- Mortgage rates have been moving lower for the past 3 weeks after hitting the highest levels since 2008 in the middle of June. This was a larger-scale repeat of a similar pattern that played out in the month of May. Taken together,...
6 things you should know about the housing market right now
Source: Deseret News --- Are mortgage rates going to keep going up? Are home prices going to keep climbing — or are they going to go down soon? For anyone deciding whether to buy a home or not in today’s hectic housing market, these questions are top of mind. Here are...
‘Prices may dip’ in some markets: 5 economists and real estate pros on what to expect from this ‘in transition’ housing market
Source: MarketWatch --- Though mortgage interest rates have been slowly ticking up — with some pros saying we may see more of that (you can see the lowest mortgage rates you can get here) — summertime homebuyers have likely noticed that housing price growth doesn’t...
Mortgage Rates Hold Mostly Steady at Recent Lows
Source: Mortgage News Daily --- Mortgage rates hit 5.5% last Friday for the top tier conforming 30yr fixed scenario at the average lender. That was the lowest since June 8th, just before the fateful CPI inflation data that kicked off a run to the highest rates in...
Mortgage Rates May Stay on the Up Escalator in July
Source: Nerdwallet --- July mortgage rates forecast Mortgage rates are likely to rise in July, extending a seven-month streak. High inflation, and the Federal Reserve's efforts to control it, have driven mortgage rates upward. The same factors may push them even...
CoreLogic: Another big home-price increase in May, but slowdowns are coming
Source: Scotsman Guide --- CoreLogic’s latest Home Price Insights (HPI) report revealed that home prices nationwide, including distressed sales, rose 20.2% year over year in May — a still-strong annual jump, but one that’s likely to precede a period of slowing price...
Mortgage rate forecast for July 2022: Borrowers feel the heat
Source: Bankrate --- The mercury in your thermometer’s going up, and mortgage rates are also climbing, creating an uncomfortably hot and sticky situation for prospective homebuyers. Currently, the benchmark 30-year fixed mortgage rate is treading close to 6 percent....
Redfin Economist Q&A: How Rising Rates and Economic Uncertainty Could Impact Home Prices, Migration, Rentals and More
Source: Redfin --- Mortgage rates have doubled since the beginning of the year to nearly 6%, taking a toll on affordability and demand. The monthly payment on a $400,000 home rises more than $550 with rates going from 3% to 6%. That increase, along with the slumping...
First American: Housing affordability drops to lowest point since 2007
Source: Scotsman Guide --- The latest Real House Price Index (RHPI) report from First American Financial Corp. offered further confirmation that affordability is one of the U.S. housing market’s biggest issues. The RHPI, which measures the price changes of...
Redfin’s chief economist says the housing market correction has begun—and things are going to get worse before they get better
Source: Fortune --- As summer kicks off, everything is heating up. Everything, it seems, except the housing market. Following a blistering two year tear, real estate firm Redfin is reporting big drops in demand and price cuts becoming the norm in many of the hottest...
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