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Refinancing Fuels Upswing in Mortgage Application Activity
The Refinance Index increased 7% from the previous week and was 40% higher than the same week one year ago. Continue Reading Refinancing Fuels Upswing in Mortgage Application Activity
Mortgage Rates Decline Again
The 30-year fixed-rate mortgage averaged 6.77% as of June 26. Continue Reading Mortgage Rates Decline Again
Additional Reading: Top Mortgage Industry News & Headlines
Foreclosure Activity Up During February
Lenders started the foreclosure process on 22,730 residential properties in February. Continue Reading Foreclosure Activity Up During February
Mortgage Credit Availability at Highest Level in a Year
“Mortgage credit availability in February increased for the third consecutive month,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability at Highest Level in a Year
Tomo Mortgage Closes $20 Million Series B Funding Round
The company plans to move its headquarters from Stamford, Connecticut, to New York City. Continue Reading Tomo Mortgage Closes $20 Million Series B Funding Round
Mortgage Delinquencies Continue to Fall, Nearing Two Years of the Downward Trend
CoreLogic, a global property information, analytics and data-enabled solutions provider, today released its monthly Loan Performance Insights Report for January 2023. For the month of January, 2.8% of all mortgages in the U.S. were in some stage of delinquency...
The History Of The Mortgage Rate
Mortgage rates continue their upward trajectory as the Federal Reserve continues their pointed and aggressive response to stubborn inflation, with weekly U.S. average at 6.73% as of 3/8/23. This means that would-be homebuyers are continuing to face challenges of...
Cost Of Living Comparison Calculator
Source: Bankrate --- The cost of living is the total amount of money required to live in a certain area and cover your basic necessities. Expenses typically factored into cost of living calculations include housing, food and taxes. It may also include such expenses...
Spring home buying season shows ‘steady demand’ as mortgage rates slip for second week
Source: Fox Business --- The spring home buying season is showing "steady demand" as mortgage rates slip for a second week in a row. On Wednesday, the Federal Reserve raised its key interest rate by a quarter-percentage point and signaled that it could soon pause the...
The number of single women homeowners continues to surpass the number of single men homeowners
Source: Bankrate --- Single women are a force to be reckoned with in residential real estate. Despite dealing with lower incomes than men, a pricey housing market and increasingly expensive mortgages, they comprise the second largest group of homebuyers — and have...
MSR Financing, Marketing, Appraisal, DPA Products; Fannie, Freddie Changes; EU Central Bank News
Source: Mortgage News Daily --- “I got stuck in a conversation with some wealthy people and one woman asked me how my investments were doing. I replied that both avocadoes should be ripe by tomorrow.” Food prices are an everyday reminder of inflation on the spending...
Mortgage giant Fannie Mae tackles climate risk, but changes to underwriting may take several years
Source: CNBC --- Global warming has already caused irreversible damage to the earth’s ecosystems and communities, according to a critical report just issued from the United Nations Intergovernmental Panel on Climate Change. The damage is extending to the U.S. housing...
As Housing Market Cools, Homebuyers are Putting Less Money Down on a Home
The typical U.S. homebuyer’s down payment fell 10% year over year in January to $42,375, its lowest level in nearly two years, according to a new report from Redfin, the technology-based real estate brokerage. The median down payment was down 35% from the peak it...
‘I thought things would start to cool down’: High rates, prices challenge homebuyers
Source: 13 WMAZ --- LOS ANGELES — Homeownership is likely to remain a pipe dream for many Americans this spring homebuying season. The nation’s worst housing slump in nearly a decade stoked hope among prospective buyers that homes could be scooped up more easily. But...
Wild Swings in Interest Rates are Making Sellers Hesitate to List Their Homes
According to Zillow's latest market report, mortgage rates — both their high levels and wild swings are making life difficult for buyers and sellers. Relatively high rates have reduced new listings to record lows, leaving buyers with limited options. Any dips in...
