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New Home Purchase Mortgage Applications Up, Forbearance Level Down
“Low for-sale inventory continues to constrain sales, along with mortgage rates that remain above 6%,” said MBA’s Joel Kan. Continue Reading New Home Purchase Mortgage Applications Up, Forbearance Level Down
Rocket Mortgage Canada in New Pact with RESAAS Services
Rocket Mortgage Canada and RESAAS will share the revenue generated via the partnership from all new mortgages, mortgage renewals and refinances. Continue Reading Rocket Mortgage Canada in New Pact with RESAAS Services
Additional Reading: Top Mortgage Industry News & Headlines
The US housing market’s stagnation has gotten even worse
Source: Quartz--- The meteoric rise of mortgage rates has zipped past another milestone this year. For the first time since April 2002, the 30-year fixed-rate mortgage (FRM) topped 7% this week, according to data from Federal Home Loan Mortgage Corporation (Freddie...
The Reason Home Prices Are Finally Dropping
Source: Slate --- This article is from Full Stack Economics, a newsletter about the economy, technology, and public policy. In March 2021, a woman in the D.C. area put her house on the market and got 88 bids—including 76 all-cash offers and 15 from people who hadn’t...
Paying Cash for Your Home Is a Bad Idea for These 4 Reasons
Source: The Motley Fool --- After rock-bottom interest rates during the first phase of the COVID-19 pandemic, the mortgage chickens have finally come home to roost. In October 2021, the average U.S. mortgage interest rate for a 30-year fixed-rate mortgage was just...
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