Mortgage Industry News
Q2 Mortgage Delinquency Rate Down Slightly
The delinquency rate was down 11 basis points from the first quarter and down 4 basis points from the second quarter of 2024. Continue Reading Q2 Mortgage Delinquency Rate Down Slightly
Foreclosure Activity Up 13% Year-Over-Year
Lenders started the foreclosure process on 24,302 properties last month, up 12% from June and up 11% from July 2024. Continue Reading Foreclosure Activity Up 13% Year-Over-Year
Mortgage Rates Hold Steady After Climbing for 6 Weeks
The 30-year fixed-rate mortgage averaged 6.78% as of Nov. 14. Continue Reading Mortgage Rates Hold Steady After Climbing for 6 Weeks
myCUmortgage in New Partnerships with Six Credit Unions
The combined partnerships represent 139,349 credit union members and $2.52 billion in assets. Continue Reading myCUmortgage in New Partnerships with Six Credit Unions
Mortgage Application Activity in Mild Uptick
The seasonally adjusted Purchase Index increased 2% from one week earlier, but the unadjusted index decreased 2%. Continue Reading Mortgage Application Activity in Mild Uptick
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....
More than half of Americans say inflation may have a ‘big negative impact’ on long-term financial goals, survey finds
Source: CNBC --- Amid rising prices and a changing economy, many Americans question their ability to meet long-term financial goals, according to Country Financial’s Security Index. The survey polled 1,023 U.S. adults from March 18 to March 20, and more than half...
Inflation soars in Phoenix, Atlanta, Tampa as homebuyers arrive
Source: Fox Business --- Phoenix, Tampa and Atlanta are seeing some of the highest inflation rates in the country as the areas attract a surge of homebuyers, according to Redfin. Redfin deputy chief economist Taylor Marr said inflation, which surged 8.5% over the past...
Mortgage rate locks tumble amid sharp rate rise
Source: Housing Wire --- Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates, reflecting home affordability concerns, reports from Mortgage Capital Trading and Black Knight showed. Total mortgage rate locks by dollar volume...
Locked Means Locked
What does locking a rate do for clients? It keeps these rates in check. Some lenders that I use even let me lock and shop. What does that do? It lets the borrowers lock a rate in a rate for up to 90 days and then continue to shop for their homes. Continue Reading Locked Means Locked
