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Author Archives: Eric C. Peck

Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com.

Purchase Mortgage Apps Fall 42% YoY

As mortgage rates rose for the 10th straight week, hitting a 21-year high, housing demand continues to tail off, with the MBA reporting overall app volume falling nearly 2% week-over-week.

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Home Prices Continue to Decelerate Nationwide

The S&P CoreLogic Case-Shiller National Home Price NSA Index for August 2022 reported home price gains continued to slip, as inflation hit a four-decade high, resulting in less money in the pockets of Americans and diminished budgets.

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Mortgage Rates Creep Toward 7% Mark

Mortgage rates continue to force down application volume, with Freddie Mac reporting rates moving slightly upward yet again this week, adversely impacting the housing market as demand dwindles.

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Share of ARM Loans Climbs to 14-Year High Mark

As overall mortgage rates edge closer to 7%, mortgage app volume experienced their fourth consecutive month of declines, with an uptick in ARM loans demonstrating that they remain a feasible option for borrowers seeking ways to reduce their monthly payments.

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Rates Draining Homebuyer Purchasing Power

Continued economic instability and inflationary concerns forced more potential homebuyers to pull back from the market in September, as the MBA reported builder applications fell by 7% over August 2022’s data.

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