For all of the handwringing from government officials and economists regarding whether the Federal Reserve will reduce short-term rates again this year, many Americans just don’t care, a Wallethub survey indicates. Most people are expecting the Federal Open Market Committee to cut further at its meeting on Oct. 28 and 29, plus making what would […]
Many Americans ho-hum about new Fed rate cut, survey finds Read More »
A 5 basis point drop in conforming mortgage rates boosted loan refinance application volume this week, but overall activity was down from seven days’ prior, the Mortgage Bankers Association said. Its Market Composite Index found application activity inched 0.3% lower on a seasonally adjusted basis from seven days prior and fell 0.2% on an unadjusted
Purchase apps languish even though mortgage rates decline Read More »
Kin, a direct-to-consumer home insurance provider, has entered the mortgage broker business, starting in Florida, and offering a full array of mortgage and home equity products. The mortgage broker business is also direct-to-consumer and plans are to eventually expand to other states where Kin has a presence, said company founder and CEO Sean Harper. He
Insurance provider Kin starts Florida mortgage business Read More »
Seniors’ home equity holdings set a record in the second quarter as property values continue to increase, albeit at a slower pace than earlier this year. However, given the ongoing government shutdown, endorsements of Home Equity Conversion Mortgages, the Federal Housing Administration product which makes up the bulk of reverse mortgage lending, are on hold.
Senior home equity holdings rise to record level Read More »
The typical down payment made by home purchasers during the third quarter increased by $500 over the previous fiscal period, with the average share remaining near 14.4% of the price, Realtor.com said. Compared to last year’s third quarter, the dollar amount of $30,400 was down by $100. While it is normal for the down payment
Down payment percentages stay elevated due to higher prices Read More »
Consumers who opt to purchase a home in January, one of the months with the lowest share of sales, could save over $23,000 on their buy versus May, one of the busiest, a LendingTree study found. In 2024, January had the lowest share of sales at 6.3%, while May had the most at 9.9%; although
When is the best time to buy a home? January. Here’s why Read More »
Homeowners are seeing smaller profits from sales compared to a year ago, but the latest numbers still surpass pre-pandemic levels, as growing numbers hold onto their properties amid surging equity accrual. Sellers gained an average of 49.9% in profit after transactions closed during the third quarter, according to the latest home sales report from real
Homeowners see slimmer profits from third-quarter sales Read More »
Bloomberg News Key insight: Fed Governor Stephan Miran, one of the chief architects of President Donald Trump’s trade policies, said China’s move last week to limit rare earth exports, changed his “sanguine” outlook on economic growth. Expert quote: “It’s about where the balance of risks has moved and risks exist now that didn’t exist a
Miran: China trade war further bolsters rate cuts Read More »
The latest refi boomlet sustained its momentum that showed up in late summer, with rate drops driving a noticeable spike in September lock volume, according to Optimal Blue. Rate locks jumped 28.2% from August to September, the product-pricing engine platform said in its latest market advantage report, and drove its monthly market index to a
Lower rates fuel big September refi spike Read More »
When it comes to learning about today’s housing market, a majority of potential buyers are going digital, turning toward artificial intelligence and social media for information, according to Realtor.com. A majority of potential buyers said they are excited about how AI can help personalize their home search experience, and 82% are using it in their
ChatGPT, Gemini increasingly used in home buyer searches Read More »