Mortgage Industry News
Mortgage Credit Availability at Highest Level in Nearly 3 Years
“Credit supply increased to its highest level since August 2022,” said MBA’s Joel Kan Continue Reading Mortgage Credit Availability at Highest Level in Nearly 3 Years
California Program to Offer Mortgage Relief to Disaster Victims
Eligible homeowners will be able to apply for grants covering up to three months of mortgage payments, up to $20,000 total. Continue Reading California Program to Offer Mortgage Relief to Disaster Victims
Mortgage Application Activity Up 14.2%
The MBA also reported mortgage applications for new home purchases in August were up 4.4% year-over-year. Continue Reading Mortgage Application Activity Up 14.2%
Report: Mortgage Payments Cheaper Than Rent in 22 of Top 50 Metros
Zillow attributed the latest statistics to declining mortgage rates. Continue Reading Report: Mortgage Payments Cheaper Than Rent in 22 of Top 50 Metros
Mortgage Rates Fall to 19-Month Low
The 30-year fixed-rate mortgage averaged 6.20% as of Sept. 12, down from last week when it averaged 6.35%. Continue Reading Mortgage Rates Fall to 19-Month Low
Best Week For Rates in Almost 2 Years, But There’s a Catch
Source: Mortgage News Daily --- Mortgage rates have moved higher at the fastest pace in decades so far in 2022, but this week proved to be a refreshing exception. To understand why, we first need to examine the relationship between stocks and bonds, which is a bit...
U.S. Commercial Lending to Hit $895 Billion in 2022, Despite Higher Rates
Source: World Property Journal --- According to a recently updated forecast released by the Mortgage Bankers Association, total U.S. commercial and multifamily mortgage borrowing and lending is expected to hold steady at a projected $895 billion of total lending in...
Fewest homeowners underwater on their mortgages in more than 12 years
Source: Scotsman Guide --- According to CoreLogic’s most recent Homeowner Equity Report, U.S. homeowners with mortgages saw their equity grow by 29.3% year over year in fourth-quarter 2021, an average gain of $55,300 per borrower. Collectively, these homeowners (whose...
Let’s be a HERO and hold it together – or try for our clients!
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] Everyone is stressed out about finding a house then moving!!!! I have a client now that is just stressed out of her mind …… did I say...
Housing Market Update: Shrinking Pool of Buyers Snatch Up Homes at Record Pace
Source: Redfin --- The typical home for sale found a buyer in 15 days, the fastest pace on record, during the four-week period ending May 8. Meanwhile, pending sales fell 6%, the largest year-over-year decline since June 2020 when the initial pandemic shock to the...
Housing supply is finally improving, as high prices and rising rates weigh on sales
Source: CNBC --- One of the leanest housing markets in history might be putting on some fat. The supply of homes for sale could increase in the next few weeks, according to new data from Realtor.com. In April, inventory was 12% lower than in the same month last year,...
Adjustable-rate mortgage demand surges to 14-year high, as homebuyers try to afford this pricey spring market
Source: CNBC --- It could be more listings on the market, or perhaps just fear that interest rates will move even higher, but homebuyers are showing more demand for mortgages. They are, however, turning even more to adjustable-rate mortgages (ARMs), which offer lower...
Something big is happening in the housing market
Source: Fortune --- The most competitive housing market ever is finally showing signs of breaking. As data trickles in for April, it's becoming clear that the historically hot housing market has flipped trajectories. It's now in cooling mode. The number of homes...
Will Home Prices Fall This Year? Here’s What Experts Say.
Source: Keeping Current Matters --- Many people are wondering: will home prices fall this year? Whether you’re a potential homebuyer, seller, or both, the answer to this question matters for you. Let’s break down what’s happening with home prices, where experts say...
How Today’s Mortgage Rates Impact Your Home Purchase
Source: Keeping Current Matters --- If you’re planning to buy a home, it’s critical to understand the relationship between mortgage rates and your purchasing power. Purchasing power is the amount of home you can afford to buy that’s within your financial reach....
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