Mortgage Industry News
Mortgage Rates Dip, Homebuyer Affordability Up Slightly
The national median payment applied for by purchase applicants dropped to $2,172 from $2,211 in May. Continue Reading Mortgage Rates Dip, Homebuyer Affordability Up Slightly
New Senate Bill Would Recognize Cryptocurrency as Mortgage Collateral
“The American dream of homeownership is not a reality for many young people,” said Sen. Cynthia Lummis. Continue Reading New Senate Bill Would Recognize Cryptocurrency as Mortgage Collateral
Mortgage Application Activity Up 11.2%
The VA share of total applications increased to 15.9% from 14.6% from the week before. Continue Reading Mortgage Application Activity Up 11.2%
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
Mortgage rate forecast for February 2023: Will the groundhog see the shadow of January rates?
Source: Bankrate --- Come February, Americans anticipate the activity of Punxsutawney Phil, the climate-forecasting rodent whose shadow will signal if winter will persist longer or be shorter. But weather isn’t the only thing we’re eager to get an expert forecast on...
Most property investors are opting for one-year fixed mortgages – survey
Source: MPA Mag --- A number of property investors are choosing to suffer the short-term pain of fixing their mortgage rates for a year in anticipation of interest rates easing, according to a new survey. The latest Crockers-Tony Alexander Investor Insight found that...
Feds raises rate a quarter point, inflation still a concern
February 1, 2023 (Staff Writer) The U.S. Federal Reserve (Fed) announced its first decision of 2023 for the Federal Funds rate today. An increase of 0.25 percentage points, taking rates between 4.50% and 4.75% was approved and adopted. This is now the eighth...
92% of millennial homebuyers say inflation has impacted their purchase plans, but most are plowing ahead anyway, study shows
Source: CNBC --- Millennials — who are roughly ages 27 to 42 — are in their prime homebuying years. While the combination of high home prices and rising interest rates has caused affordability issues for many buyers, the situation is gradually improving. The median...
DO POCKET LISTINGS BENEFIT SELLERS IN ANY WAY?
Source: Realty Biz News --- When buying or selling a house, you may hear real estate terms you're unfamiliar with. One such term could be a "pocket listing." When hearing this for the first time, it is not uncommon for consumers to ask what is a pocket listing in real...
‘Good news’ for the spring homebuying season as mortgage rates melt, but economists warn ‘finding a deal remains an elusive quest’
Source: Yahoo! --- Mortgage rates have tumbled to their lowest level since mid-September, drawing eager homebuyers out of their winter retreats. “Home purchase demand is thawing from the months-long freeze that gripped the housing market,” says Sam Khater, chief...
What’s Next For UK Mortgage Rates?
Source: Forbes Advisor --- The Bank of England raised interest rates on 15 December from 3.0% to 3.5%. The 0.5 percentage point increase marked the ninth rise since December 2021 when Bank rate stood at just 0.1%. It put the Bank rate at its highest level since 2008...
Can You Afford a House Right Now?
Source: US News --- The Covid-19 pandemic helped spur one of the biggest housing boom cycles in history. In 2020, the Federal Reserve slashed interest rates to zero, dropping mortgage rates into the 2% range. Artificially low numbers coupled with the new remote work...
How do real estate agent commissions work?
Source: Yahoo! Finance --- In this do-it-yourself digital age, home sellers and buyers alike might well wonder if they need Realtors — or, more precisely, to pay Realtor fees. Just how crucial are these agents to a successful real estate transaction? Well, a good...
When will US home prices finally stop dropping?
Source: Fox Business --- The end may finally be in sight for a prolonged slump in the U.S. housing market, according to Goldman Sachs strategists. Analysts at the Wall Street bank said in a note this week that falling mortgage rates are likely to stop the dramatic...
