With mortgage rates averaging 40 basis points higher than one month ago, overall mortgage application volume deviated from the norm and rose slightly week-over-week, led by an increase in ARM volume.
Read More »Fannie Mae’s Research Group Makes Downward Revisions for Mortgage Originations
“We forecast single-family purchase mortgage originations to be $1.32 trillion in 2023 and $1.41 trillion in 2024, representing downward revisions of $41 billion and $60 billion, respectively, relative to last month’s forecast,” the ESR said.
Read More »Mortgage Credit Availability Slides to Nine-Year Low
The MBA reports that credit standards are becoming more restrictive, as its Mortgage Credit Availability Index drops to its lowest level since March of 2013.
Read More »Mortgage Rates Jump to 14-Year High
Mortgage rates jumped 23 basis points week-over-week, hitting a high mark last seen in late 2008, as heightened inflationary concerns are pushing more prospective buyers back to the sidelines.
Read More »Aggressive Monetary Policy Drives Mortgage Rates Upward
Freddie Mac has released the results of its Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) had averaged 5.66%. “The market’s renewed perception of ...
Read More »Jerome Powell Talks Interest Rates
“This low interest rate environment may limit the ability of central banks to reduce policy interest rates enough to support the economy during a downturn<" said Federal Reserve Chairman Jerome Powell in the first part of his Monetary Policy Report.
Read More »The Week Ahead: Bank of America Q2 Results
On Monday, Bank of America will release its second-quarter results. Here’s what else is in store in The Week Ahead.
Read More »Predicting the Housing Market and Economic Health
Where is the housing market headed and what trends are emerging? Experts weighed in with some interesting answers in a recent survey.
Read More »Richmond Fed President: Central Bankers Can Spur Economic Growth
In a speech at the Johns Hopkins Carey Business School, President of the Federal Reserve Bank of Richmond Jeffrey M. Lacker discussed monetary policy, inflation, and how the central bank can help spur economic growth.
Read More »The Week Ahead: Janet Yellen to Testify Twice Before Financial Committees
Given some of the recent major economic news concerning the Fed, it is probably not hard to guess at least some of what Yellen will be talking about this week.
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