Mortgage Industry News
Mortgage Rates in Mild Decline
The 30-year fixed-rate mortgage averaged 6.81% as of April 24. Continue Reading Mortgage Rates in Mild Decline
Mortgage Application Activity Stumbles by 12.7%
The seasonally adjusted Purchase Index decreased 7% from one week earlier. Continue Reading Mortgage Application Activity Stumbles by 12.7%
Guaranteed Rate Announces Rebranding
The rebranding process will be gradual, the company stated. Continue Reading Guaranteed Rate Announces Rebranding
Mortgage Rates Rise to Just Below 7%
The 30-year fixed-rate mortgage averaged 6.95% as of July 3. Continue Reading Mortgage Rates Rise to Just Below 7%
FHA Translates 19 Mortgage Servicing Documents into 5 Foreign Languages
The documents are available in Chinese, Korean, Spanish, Tagalog, and Vietnamese on the FHA website. Continue Reading FHA Translates 19 Mortgage Servicing Documents into 5 Foreign Languages
Getting ghosted?
Source: Housing Wire --- I never thought I would see the day when the housing industry and the dating industry shared a common struggle — getting ghosted. The term is not so fondly used in the dating world when someone suddenly and without explanation withdraws from...
As rent spikes by 35% in some cities, here’s how Utah compares to the rest of the U.S.
Source: KSL --- SALT LAKE CITY — Utah has some of the most overvalued housing markets in the country. What about rent? In the past year, rent in some U.S. cities shot up a staggering 35%, according to a recent report from Redfin, fueled in part by rising housing...
Owning Is More Affordable than Renting in the Majority of the Country
Source: Keeping Current Matters --- If you were thinking about buying a home this year, but already pressed pause on your plans due to rising home prices and increasing mortgage rates, there’s something you should consider. According to the latest report from ATTOM...
Pending Home Sales in U.S. Slide 3.8 Percent in December
Source: The World Property Journal--- According to the National Association of Realtors, pending home sales fell in December 2021, denoting two straight months of declines. All four major U.S. regions posted both month-over-month and year-over-year drops in contract...
‘It’s anguish, it’s pain, it’s agony’ – here’s what it’s like to shop for a home in today’s tight housing market
Source: CNBC --- The nation’s housing market has never been this tight, which is frustrating enough for house hunters, but now they have another problem. Mortgage rates, which have hovered around record lows since the start of the Covid pandemic, are now rising. It’s...
Rising Interest Rates and What’s Next for Multifamily Lending
Source: Multi-Housing News --- Multifamily investors are bracing for an uptick in mortgage rates and other forms of real estate finance as the Federal reserve bumps up interest rates in 2022. As an inflation-fighting move, the Fed plans three hikes of 25 basis points...
Residential Rents in North America Rise 14 Percent in December
Source: The World Property Journal --- According to national property broker Redfin, average monthly listed rents in the U.S. increased 14.1% year over year to $1,877 in December 2021. This was the largest annual jump since at least February 2019--the earliest month...
Home prices surged in November, but at a slower rate than in October, S&P Case-Shiller says
Source: CNBC --- Even as the housing market entered its traditionally slower season in November, home prices showed big gains from a year ago. Prices rose 18.8% year over year on the S&P CoreLogic Case-Shiller National Home Price Index. Yet that was a slower rate...
Inflation keeping house prices high, even with rising mortgage rates
Source: yahoo!finance --- If you're a homebuyer hoping for a break on home sale prices amid rising mortgage rates, it's likely not happening this year, or next. Aside from record-low inventory, a big culprit for even higher home prices points to inflation. "It'll...
Long-term U.S. mortgage rates jump significantly
Source: RealEstate --- WASHINGTON (AP) — Average long-term U.S. mortgage rates continued to rise this week. The rate on the benchmark 30-year loan breached 3.5%. Home loan rates have been running in recent weeks at levels not seen since early 2020, when the...
