Mortgage Industry News
Mortgage Application Activity Rises by 6.3%
The refinance share of mortgage activity decreased to 38.8% of total applications from 41% the previous week. Continue Reading Mortgage Application Activity Rises by 6.3%
Mortgage Rates Rise Again
The 30-year fixed-rate mortgage averaged 6.84% as of Nov. 21, up from last week when it averaged 6.78%. Continue Reading Mortgage Rates Rise Again
Home Mortgage Lending Activity Sank During Q4 2023
The fourth quarter total was also a 16.5% decline from the same period in 2022. Continue Reading Home Mortgage Lending Activity Sank During Q4 2023
Mortgage Application Activity Down By 5.6%
U.S. home prices were up 6.5% year-over-year during the fourth quarter of 2023. Continue Reading Mortgage Application Activity Down By 5.6%
Mortgage Rates Creep Up to the 7% Level
The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, up from last week when it averaged 6.77%. Continue Reading Mortgage Rates Creep Up to the 7% Level
Demand For Vacation Homes Up 77% From Pre-Pandemic in December
Source: Redfin --- Demand for vacation homes was up 77% from pre-pandemic levels in December. That’s slightly below the 80% increase in November and the record 92% gain in January, but up significantly from the 2021 low hit in August.
Biggest Portland real estate bidding wars of 2021: Homes that sold up to $605,000 over asking price
Source: The Oregonian/OregonLive--- Last year was a head spinner for home shoppers. The desire to take advantage of historic low mortgage interest rates and move to a larger place to work and staycation during the coronavirus pandemic was dashed for some...
The Absolute Cheapest State to Buy A House Is…
Source: Apartment Therapy --- When you’re buying a new home, it’s all about location, location, location. Based on where you decide to live, you may have lower home costs, but pay more in utilities. Or, you could pay a higher mortgage but your property taxes will...
Virginia launches mortgage relief plan for distressed borrowers
Source: National Mortgage News --- Virginia began accepting applications on Monday for its mortgage relief program, with financial assistance provided through the federal government’s Homeowner Assistance Fund. The state received more than $258 million from the U.S....
Home affordability plummeted in fourth quarter
Source: Housing Wire--- Homeownership continues to swerve into unaffordable territory, with median-priced single-family homes becoming less affordable in three-quarters of the nation’s market, a report published by ATTOM Data Solutions last week said. ...
Red-Hot Housing Market Fuels Mortgage Borrowing Record
Source: The Wall Street Journal --- Americans borrowed more than ever to buy homes in 2021. Mortgage lenders issued $1.61 trillion in purchase loans in 2021, according to estimates by the Mortgage Bankers Association. That is up slightly from $1.48 trillion in 2020...
New York company makes City’s largest real estate purchase
Source: Santa Monica Daily Press --- The largest real estate deal in the city’s history closed this week with the sale of eight properties to New York based real estate company Tishman Speyer. According to a statement from brokerage Walker & Dunlop, Tishman’s...
Mortgage Rates Increased to 3.27% Last Week. Here’s What Experts Forecast Amid Rising Inflation and COVID Cases
Source: Next Advisor --- Mortgage rates increased slightly by 0.01% last week to 3.27%, a movement consistent with what housing experts have been forecasting for months: Mortgage rates will rise in 2022. Rates have been moving up and down slightly amid growing...
Non-profit pays off mortgage on home of U.S. Marshal killed in Baton Rouge
Source: brproud.com --- JACKSON, Miss. (AP) — A non-profit group has fully paid the mortgage of a U.S. Marshal killed in the line of duty at a motel in Baton Rouge, Louisiana. The Tunnel to Towers Foundation in a news release announced New Year’s Eve that it had paid...
For some, a reverse mortgage might be the key to a better life
Source: The Santa Clarita Valley Signal--- Life is full of experiences – work, finding love, paying taxes, staying healthy, raising a family and more. Once a person reaches a certain age, it is time to relax and enjoy life and loved ones as much as possible. However,...
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