Growth in loan products across the board in anticipation of the annual home purchase season pushed mortgage credit to its loosest in over two-and-a-half years, the Mortgage Bankers Association said. However, rate lock activity fell nearly 6% in May from April, as conforming mortgage rates rose over 16 basis points during the month, a separate […]
Mortgage credit offerings at loosest in over two years Read More »
For the first time in four weeks, mortgage rates have moved lower, following another seven-day period where the benchmark 10-year Treasury yield moved in a wide range. However, rates are still at levels last seen in February, the Freddie Mac Primary Mortgage Market Survey showed. “The average mortgage rate decreased this week, which is welcome
Mortgage rates move lower for first time in four weeks Read More »
Lately, it feels like every headline about the housing market comes with a side of doubt. Are prices going up or down? Are we headed for a crash? Will rates ever come down? And all the media noise may leave you wondering: does it really make sense to buy a home right now? But here’s
Why Buying Real Estate Is Still the Best Long-Term Investment Read More »
Federal Reserve Gov. Christopher WallerBloomberg News As the Federal Reserve examines its approach to communications, one official said the central bank should consider changes to its quarterly forecasts. During an onstage appearance at an event hosted by the Bank of Korea, Fed Gov. Christopher Waller said he would like to see reforms to the summary
Fed’s Waller backs change to ‘dot plot’ economic outlook Read More »
Homebuyers in the current Spring season are having to come up with larger monthly principal and interest payments, although a measure of relief might be on the way. The Mortgage Bankers Association Purchase Application Payment Index rose to $2,186 in April from $2,173 in March, although it is down from $2,256 one year ago. “Homebuyer
Monthly mortgage payments on the rise, but not for long Read More »
Federal Reserve Gov. Lisa Cook.Bloomberg News Federal Reserve Gov. Lisa Cook said that financial markets fared well in the face of uncertainty sparked by President Trump’s evolving tariff regime, but that more study is needed to understand how risks from nonbanks affect the banking system and vice versa. Speaking at a conference at New York
Fed’s Cook: More study needed on bank-nonbank interreliance Read More »
U.S. new-home sales rose unexpectedly in April to the highest level since February 2022 on a surge in the South and Midwest. Purchases of new single-family homes increased nearly 11% last month to a 743,000 annual rate, according to government data released Friday. The median estimate in a Bloomberg survey of economists was a 695,000
New-home sales top forecasts on surge in South and Midwest Read More »
AGENTS: Did you know you can share a personalized version of this post? Learn more! Infographics, Economy Some Highlights In a recent poll from Gallup, real estate has once again been voted the best long-term investment. And it’s claimed that top spot for 12 straight years now. That’s because homeownership is one of the top
Real Estate Is Voted the Best Long-Term Investment 12 Years in a Row Read More »
Home sales transactions were cancelled at a near-record rate in April, another likely side effect of uncertainty enhanced by President Trump’s tariff announcement earlier in the month, Redfin said. Approximately 56,000 signed purchase agreements were withdrawn during the month, which equates to a 14.3% rate. This is up from 13.5% one year ago and is
Home sales cancelled at near-record pace in April Read More »
The 30-year fixed rate mortgage moved 5 basis points higher from last week, but still remains under 7%, at least according to Freddie Mac. “Mortgage rates inched up this week but continue to remain lower than one year ago,” said Sam Khater, Freddie Mac’s chief economist, in a press release. “With more inventory for buyers
Mortgage rates keep rising, influenced by DC developments Read More »