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Mortgage Rates

Bessent weighs mortgage rate risk in potential release of GSEs

Conservatorship, Donald Trump, Fannie Mae, Freddie Mac, GSE Reform, Housing Market, HWmember, Mortgage Rates, Politics, Scott Bessent /

Releasing the GSEs from conservatorship became a hot topic again this week after President Trump posted that he was giving it “serious consideration” on Wednesday, followed by a Bloomberg interview with Treasury Secretary Scott Bessent on Friday. The timing of the president’s announcement took many by surprise, given rising bond yields, an uncertain trade war […]

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New-home sales top forecasts on surge in South and Midwest

Economy, Housing markets, Mortgage Rates /

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

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Home sales cancelled at near-record pace in April

Economy, Housing markets, Marketing, Mortgage Rates /

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 Approximately 56,000 signed purchase agreements were withdrawn during the month, which equates to a 14.3% rate.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

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Mortgage rates keep rising, influenced by DC developments

Economy, Housing markets, MARKETING TO BORROWERS, Mortgage Rates, Originations /

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

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Existing-home sales decline, marking worst April since 2009

Affordable housing, Housing markets, Mortgage Rates /

U.S. sales of previously owned homes unexpectedly dropped in April to the slowest pace in seven months, restrained by ongoing affordability constraints and highlighting a lackluster start to the key Spring selling season. Contract closings decreased 0.5% to an annualized rate of 4 million, according to National Association of Realtors data released Thursday. That fell

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Thinking about an Adjustable-Rate Mortgage? Read This First.

Thinking about an Adjustable-Rate Mortgage? Read This First.

For Buyers, Mortgage Rates /

If you’ve been house hunting lately, you’ve probably felt the sting of today’s mortgage rates. And it’s because of those rates and rising home prices that many homebuyers are starting to explore other types of loans to make the numbers work. And one option that’s gaining popularity? Adjustable-rate mortgages (ARMs). If you remember the crash

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Mortgage rates will go below 6% next year, Fannie says

Economy, MARKETING TO BORROWERS, Mortgage Rates, Originations, Politics and policy /

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

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The driving forces behind mortgage lenders moving away from third-party processors

Contributors, HWmember, Mortgage, Mortgage Rates, Opinion, Origination /

Mortgage lenders and services today face significant operational challenges, especially when relying on third-party processors for their outsourced services. While these middlemen operators can streamline certain tasks, the benefits are outweighed by their extreme high costs as well as the limitations over operational controls. Here we will focus on the complexities involved with outsourcing, and

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Competition for HELOC business heats up as home equity grows

HELOCs, Home Equity, HWmember, LendingLife, Mortgage, Mortgage Bankers Association, Mortgage Rates, Origination /

John Toohig stood at a podium as the moderator of a panel about home equity lines of credit (HELOCs) and asked an illustrative question of the audience of mortgage professionals. “How many of you have a mortgage first lien, 30-year with a 4% coupon or lower?” A majority raised their hands. “You are all the

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Mortgage rates remain close to 7%, but there are positives for housing

Altos, Bob Broeksmit, First American, HWmember, Mortgage, Mortgage Bankers Association, Mortgage Rates, Mortgage Rates Center, Origination /

Mortgage rates rose in the past week, but even as they remain close to 7%, there’s little evidence to suggest they’ll move much higher and further constraint housing affordability. On Tuesday, 30-year conforming rates averaged 6.93% while 15-year conforming rates averaged 6.76%, according to HousingWire’s Mortgage Rates Center. In comparison, these figures stood at 6.88%

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