The combined sum of for-sale listings on the market at the end of April hit a record, with homes both sitting on the market longer and more inventory arriving, according to a Redfin report. The total value of listings came in at $698 billion at month’s end, the real estate brokerage said. The amount surged […]
Dollar value of for-sale listings hits all-time high Read More »
Home equity lending hasn’t been this hot in almost two decades. Second-lien equity withdrawals approached 2008 levels in the recent first quarter, according to Intercontinental Exchange. Homeowners grabbed nearly $25 billion in home equity lines of credit, while overall first quarter equity withdrawals, including cash-out refinances, totaled $45 billion. Introductory rates on second-lien HELOCs fell
Home equity lending is flourishing as HELOC rates fall Read More »
How many times a day does a consumer pull out their credit card to pay for gas, groceries, or to buy themselves a sweet treat on their way home? Mortgage lenders hope that putting their company names on credit cards consumers use daily will keep their brands top of mind — and lead to repeat
Why homeownership credit cards are the next trend 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 »
Mortgage rates rose for the third consecutive week, and are now at their highest level since the start of February, the Freddie Mac Primary Mortgage Market Survey reported. The 30-year fixed-rate mortgage averaged 6.89% on May 29, up 3 basis points from last week when it was 6.86%, but below one year ago at this
Mortgage rates rise again to highest level since February Read More »
While real estate investment purchases are falling into more stable patterns following wild pandemic-era swings, condo activity is lagging, falling to a 10-year low, according to Redfin. U.S. investors bought a total of 46,726 units in the first quarter, up 2% year over year, the real estate brokerage reported. Early 2025 activity recovered from the
Condos losing appeal among real estate investors Read More »
Consumers are giving mixed messages on how they feel about the current home purchase market and this is likely feeding into the Spring season, a Bank of America report found. Among current homeowners and prospective buyers, 60% claim they are unable to tell whether now is a good time to purchase a home or not.
Spring housing outlook: not all bad news 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 »
Fannie Mae now forecasts mortgage rates to slip back under 6% by the second quarter of 2026 as it elevated its gross domestic product outlook and modified its home sales projections. The origination forecast, while increased over both its March and April projections, other than for rates, remains more conservative than the Mortgage Bankers Association’s
Mortgage rates will go below 6% next year, Fannie says Read More »
For mortgage originators, the push to become a “one-stop shop” and build lasting client relationships has taken on new urgency in light of current market pressures. “We really want to be able to meet the clients where they’re at,” Heather Lovier, chief operating officer at Rocket said during a panel discussion at the Mortgage Bankers
Rocket, CMG push towards one-stop-shop mortgage model Read More »