Mortgage Industry News
Evergreen Home Loans Expands into New Mexico
The company is opening new branches in Albuquerque and Carlsbad, under the leadership of Area Manager Barry Abt. Continue Reading Evergreen Home Loans Expands into New Mexico
Mortgage Application Activity Up 11.2%
The VA share of total applications increased to 15.9% from 14.6% from the week before. Continue Reading Mortgage Application Activity Up 11.2%
Commercial/Multifamily Mortgage Debt Outstanding Up in Q1
Multifamily mortgage debt alone increased to $2.10 trillion from the fourth quarter of 2023. Continue Reading Commercial/Multifamily Mortgage Debt Outstanding Up in Q1
MBA: Mortgage Applications for New Home Purchases Up 13.8% in May
The average loan size for new homes decreased from $405,490 in April to $400,150 in May. Continue Reading MBA: Mortgage Applications for New Home Purchases Up 13.8% in May
Mortgage Rates Continue to Slip
The 30-year fixed-rate mortgage averaged 6.95% as of June 13. Continue Reading Mortgage Rates Continue to Slip
How to take advantage of rising interest rates
Source: CNN --- In a bid to curb high inflation, the US Federal Reserve on Wednesday increased its key short-term interest rate by half a percentage point -- the first hike of that magnitude in 22 years. While the US economy is still operating in a fairly low rate...
More Americans than ever say it’s not a good time to buy a home
Source: CNBC --- It is not exactly surprising, given the stunning jumps in both home prices and mortgage rates, but Americans have never been more bearish on buying a house. Just 30% of adults surveyed by Gallup said now is a good time to buy a home, down 23...
U.S. Mortgage Industry Reacts to Federal Reserve’s FOMC Statement
Source: World Property Journal --- The Mortgage Bankers Association SVP and Chief Economist Mike Fratantoni issued the following comments in reaction to the Federal Reserve's recent FOMC statement on monetary policy and the economy: "There were two items to watch from...
Century 21 CEO warns US didn’t ‘build enough homes’ for this ‘pent-up’ demand
Source: Fox Business --- Even though mortgage rates are rising at their highest pace since 1994, Century 21 CEO Mike Miedler argued that’s not the biggest problem facing the real estate market on "Mornings with Maria" Thursday. "Honestly, we just have not built enough...
As mortgage rates rise, here’s how to decide whether you should buy a home or rent
Source: CNBC --- It’s becoming harder to afford a home. Prices are up almost 20% year over year, and mortgage rates are soaring. The rate for a 30-year fixed loan is now 5.57%, according to Mortgage News Daily, up from 3.29% at the start of the year. At the same...
‘The Pandemic Boom in Home Sales Is Over’: Mortgage Rates Soar to Highest Level Since 2009 as the Fed Pressures the Housing Market
Source: Realtor.com --- Mortgage rates are skyrocketing thanks to the Fed, but buyers who can tough out this difficult, changing market will be rewarded. The 30-year fixed-rate mortgage averaged 5.27% for the week ending May 5, according to data released by Freddie...
Mortgage Rates Fall Slightly, Economic Data In Line With Expectations
Source: Zillow --- Economic data releases last week were largely in line with expectations, with GDP declining slightly in the first quarter, price indicators showing continued inflation and jobless claims highlighting continued tightness in labor markets. New home...
Here’s what the Fed’s half-point rate hike means for your money
Source: CNBC --- The Federal Reserve raised its target federal funds rate by a half point at the end of its two-day meeting Wednesday, notching the largest increase in the benchmark in more than 20 years. “The Federal Reserve is behind the curve,” said Greg McBride,...
Fed hikes benchmark interest rate by another 50 basis points
Source: Scotsman Guide --- The Federal Reserve has raised benchmark interest rates by 0.5 of a percentage point, the largest such increase in 22 years. The central bank announced the hike after the Wednesday meeting of its Federal Open Market Committee (FOMC) as the...
U.S. Home Price Growth Exceeds 20 Percent Annually in March
Source: World Property Journal --- According to CoreLogic's latest CoreLogic Home Price Index and Forecast for March 2022, U.S. home prices continued to post significant year-over-year gains in March 2022, up by 20.9%, another record high. Even with the past year's...
