Mortgage Industry News
Credit Union Mortgage Originations Down 60% in Q3
Variable rate HELOCs recorded 14% year-over-year origination declines. Continue Reading Credit Union Mortgage Originations Down 60% in Q3
Mortgage-Rate Locks for Second Homes Down 19%
August is the 14th consecutive month that second-home demand is at least 30% below pre-pandemic levels. Continue Reading Mortgage-Rate Locks for Second Homes Down 19%
Home prices are going down and seller concessions on the rise, realtors say
Source: KGW8 News --- PORTLAND, Ore. — Portland real estate agents say the market is back into historical trends. The two-year home buying frenzy has slowed down as interest rates have hit nearly 7% - something that's stopped buyers from going all in on their future...
Mortgage approvals fall to lowest level – BoE report
Source: MPA Mag --- Net borrowing of mortgage debt by individuals rose in November 2022, but mortgage approvals for house purchases fell to its lowest level since mid-2020, according to lending data released by the Bank of England (BoE) on Wednesday. The central...
When is an adjustable-rate mortgage a good idea?
Source: Fortune --- Throughout 2022, mortgage interest rates steadily ticked upward in a march that priced many prospective homebuyers out of the market. The interest rate on a 30-year fixed-rate mortgage began last year at around 3.26%, and by the time December...
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