While the “if” and “when” of a recession remain uncertain, the Fannie Mae Economic and Strategic Research Group does forecast one to occur, expected to begin in the first half of 2024—despite increased chances of a “soft landing.”
Read More »How Are Mortgage Rates Impacting Home Sales?
A new Zillow survey reveals that 80% of mortgage holders report having a rate of less than 5%, as over time, homeowners will come to terms with higher rates as commonplace.
Read More »Industry Insights: Breaking Down the Fed’s Shift on Recessionary Forecast
Continuing our coverage on the Fed’s announcement of a 25-basis point rate hike at the end of their two-day July meeting, more commentary has come through focusing specifically on the real estate market, including sales, defaults, and home prices.
Read More »Average Purchase Loan Size Hits Highest Level Since May
The MBA reports that week-over-week, mortgage application volume fell 1.8%, partly driven by a 10% decrease in FHA applications as the overall average purchase loan size hit $432,700,
Read More »Fed Resumes Rate Increases with a 25 BPS Hike
At the conclusion of Fed’s two-day July meeting, the Federal Open Market Committee moved to raise the base interest rate by 25 basis points, with all members voting in favor of the action.
Read More »Mortgage Rates Scale Back From 7%-Range
A slowdown in inflation caused the 30-year, fixed-rate mortgage to take an 18-basis point week-over-week plunge after nearly crossing the 7%-mark the week prior.
Read More »Keeping Afloat
MortgagePoint speaks with mortgage servicing execs from BOK Financial, Carrington, the NMSA, PHH Mortgage Corporation, and Servbank about the unusual times and unusual opportunities the industry faces midway through 2023.
Read More »Mortgage Rates Close in on the 7% Mark
Nearing levels last recorded in November 2022, Freddie Mac reports the fixed-rate mortgage rose 15 basis points week-over-week and edged closer to the 7%-mark.
Read More »FHA and VA Purchase Apps on the Rise
Despite mortgage rates reaching their highest levels since November 2022, overall app volume rose week-over-week, led by an increase in both FHA and VA purchase applications.
Read More »YoY Decline in Net New Listing Volume Fuels Inventory Challenges
According to HouseCanary's latest Market Pulse report, net new listing volume continues to trail behind contract volume, putting further downward pressure on housing inventory and dampening market activity nationwide.
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