Mortgage Industry News
Mortgage Rates Decline Ahead of Thanksgiving
The 30-year fixed-rate averaged 6.23% as of Nov. 26, down from last week when it averaged 6.26%. Continue Reading Mortgage Rates Decline Ahead of Thanksgiving
Mortgage Application Activity Remains Mostly Flat
“The government purchase index, which includes FHA, VA, and USDA applications, increased 9 percent and had the strongest week since 2023,” said MBA’s Joel Kan. Continue Reading Mortgage Application Activity Remains Mostly Flat
Mortgage Rates at 10-Month Low
“Purchase application activity is improving as borrowers take advantage of the decline in mortgage rates,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates at 10-Month Low
Q2 Mortgage Delinquency Rate Down Slightly
The delinquency rate was down 11 basis points from the first quarter and down 4 basis points from the second quarter of 2024. Continue Reading Q2 Mortgage Delinquency Rate Down Slightly
Foreclosure Activity Up 13% Year-Over-Year
Lenders started the foreclosure process on 24,302 properties last month, up 12% from June and up 11% from July 2024. Continue Reading Foreclosure Activity Up 13% Year-Over-Year
Here’s What Happens When You Can’t Make Your Mortgage Payment
Source: The Ascent --- It's been a very difficult time to be an ordinary American homeowner as of late. If you bought a home in the last few years, you might be grappling with higher housing payments due to elevated home values. They climbed in the last three years...
Should I Refinance My Mortgage?
Source: Buy Side from WSJ--- For most people, the prime reason to refinance a mortgage is to lower their interest rate and monthly payments. So, when mortgage rates dipped to record low levels early in the coronavirus pandemic, refinancing activity soared. Right now,...
This is why you need a mortgage pre-approval before shopping for a home
Source: CNBC --- If you’re ready to begin your home shopping journey, make sure you get a mortgage pre-approval first. A mortgage pre-approval letter is an essential step in the homebuying process. Without pre-approval, it might be difficult to determine your budget....
The mortgage rate you get depends partly on your credit score. Here’s what to expect
Source: CNBC --- Anyone who’s exploring homeownership may know that rising interest rates and elevated home prices are making that goal challenging. The average rate on a typical 30-year, fixed-rate mortgage has been zigzagging between 6% and 7% for the last several...
Three New England Markets Experience Sharp Increase in Rents
Three housing markets in the U.S. Northeast are dealing with rent spikes even as the nation’s rental crisis showed signs of moderation in January. Renters in Springfield, Massachusetts paid an average of about $1,615, a year-over-year increase of 14.73 percent...
Fundhomes appoints Ryan Feit as Strategic Advisor
Fundhomes announced that CEO and Founder of SeedInvest Ryan Feit joined their advisory board. Fundhomes is a fractional investing platform for real estate properties where investors can buy shares of individually acquired vacation rentals that are operated on their...
Realogics Sotheby’s International Realty Releases 2023 Forecast Report
Realogics Sotheby’s International Realty (RSIR) released its 2023 Forecast Report, a macroeconomic housing report authored by Pacific Northwest brokerages who have analyzed the trends in 2022, evaluated what's occurred so far in Q1 for 2023 and are focused on where...
Repayment Terms: Home Equity Loan vs. Mortgage
Source: Investopedia --- Buying a home is one of the most significant investments you can make. For most home buyers, that large of a purchase requires financing in the form of a mortgage. But once you have made your purchase, your mortgage payments start working for...
Redfin Reports Sale Prices Flatten, Demand for Mortgages Falls as Mortgage Rates Climb
Source: Yahoo! --- As mortgage rates rise, serious homebuyers are scarce. But plenty of people are searching for homes online and touring them, waiting until rates decline to buy. SEATTLE, February 23, 2023--(BUSINESS WIRE)--(NASDAQ: RDFN) — The median U.S. home-sale...
U.S. Housing Market Stalls as Mortgage Rates Edge Up Again
Source: World Property Journal --- National property broker Redfin is reporting this week that many U.S. homebuyers are retreating back to the sidelines as mortgage rates ascend toward 7 percent. Redfin's Homebuyer Demand Index -- a measure of requests for tours and...
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