The MBA reports that mortgage app volume rose for the fourth consecutive week, fueled by a continued drop in rates at the outset of the spring buying season.
Read More »Housing Costs in Sunbelt Driving People Away
“People across the Unites States continue to feel the squeeze from higher housing costs, but the impact is uneven between regions,” said Anna Zhou, Economist for Bank of America Institute.
Read More »Fannie Mae: Recession Conditions Expected in Second Half of 2023
“Inflation has now been joined by financial stability concerns as threats to sustained growth,” said Doug Duncan, SVP and Chief Economist for Fannie Mae.
Read More »Spring Homebuyers Greeted by Another Dip in Mortgage Rates
Mortgage rates fell for the second consecutive week, spurring a jump in mortgage apps at the outset of the spring homebuying season.
Read More »Mortgage Apps Gain for the Third Consecutive Week
The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.
Read More »Existing Home Sales Rise for First Time in 12 Months
"Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines," said NAR Chief Economist Lawrence Yun.
Read More »Economic Unrest Pushes Mortgage Rates Downward
In a week of turmoil in the economic markets as the FDIC was named receiver of two banks, Freddie Mac reported the fixed-rate mortgage retreated 13 basis points, ending a five-week run of increases.
Read More »Mortgage Purchase App Volume Rises for Second Consecutive Week
The MBA reports that purchase applications increased for the second straight week but remained nearly 40% below last year’s pace, amid news of continued economic instability and several bank closures.
Read More »The Automation Revolution Reaches a New Phase
Most lenders have automated much of the front end of their processes, and now, Robotic Process Automation (RPA) technology is helping to automate the in-between functions.
Read More »Borrowers Taking Out More ARMs to Offset Rising Rates
Interest in jumbo and adjustable-rate mortgages is increasing as borrowers look for ways to offset inflationary pressure and higher interest rates.
Read More »