Mortgage Industry News
MBA: Purchase Loan Applications at 28-Year Low
The adjustable-rate mortgage share of activity increased to 7.6% of total applications, its highest level in five months. Continue Reading MBA: Purchase Loan Applications at 28-Year Low
Foreclosure Inventory Hits 15-Month Low
Among the states, Mississippi had the highest non-current percentage at 7.65% and Colorado had the lowest with 1.95%. Continue Reading Foreclosure Inventory Hits 15-Month Low
Whether it’s 2022 or 2023, U.S. Housing Market Performance Will be Tied to the Interest Rate Whims of The Fed
Source: Yahoo Finance --- The year 2022 brought a thriving residential home investment market to its knees. But you’d never have guessed that based on how the year started, with skyrocketing home values and bidding wars. When the Federal Reserve began raising interest...
34% of Americans Say Paying Off a Mortgage Is a Top Goal. But Should It Be One of Yours?
Source: The Ascent --- Many people who own homes carry a mortgage for many years. In fact, it's common to spend 30 years (or more) paying off a home. A lot of people start out with a 30-year mortgage and refinance it to another 30-year loan at some point down the...
Mortgage rates keep downward trajectory to close out 2022: Freddie Mac
Source: Fox Business --- Last week, mortgage rates dropped for the sixth consecutive week as the market continues to react to positive economic indicators, according to Freddie Mac. The average rate for a 30-year fixed-rate mortgage fell to 6.27% for the week ending...
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