Mortgage Industry News
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...
Mortgage Rates Fall Slightly, Economic Data In Line With Expectations
Source: Zillow --- Economic data releases last week were largely in line with expectations, with GDP declining slightly in the first quarter, price indicators showing continued inflation and jobless claims highlighting continued tightness in labor markets. New home...
Here’s what the Fed’s half-point rate hike means for your money
Source: CNBC --- The Federal Reserve raised its target federal funds rate by a half point at the end of its two-day meeting Wednesday, notching the largest increase in the benchmark in more than 20 years. “The Federal Reserve is behind the curve,” said Greg McBride,...
Fed hikes benchmark interest rate by another 50 basis points
Source: Scotsman Guide --- The Federal Reserve has raised benchmark interest rates by 0.5 of a percentage point, the largest such increase in 22 years. The central bank announced the hike after the Wednesday meeting of its Federal Open Market Committee (FOMC) as the...
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