Tag Archives: Federal Reserve

Despite mortgage rates pulling back over the past month, numbers are down 59 basis points from the recent peak of 5.22% according to the latest Fannie Mae survey, they continue to anticipate a slowdown in home sales activity.

While several factors have played into affordability issues for many in attaining homeownership, Adam Mercado of ClearPath Lending stresses that timing and patience are key for this segment in today’s housing finance landscape.  

A market reset may be underway, as fixed-rate mortgages fell just below 5% for the first time since April 7, continuing a trend of instability amid inflationary pressures and a slowdown in economic growth.

The MBA reported mortgage application volume rose 1.2% this week, reversing course after the Fed rate hike announcement, and rising after a month-long decline.

In anticipation of another rate hike by the Federal Reserve, mortgage rates retreated downward this week, as purchase demand continued to fall, as the prospect of a recession continues to loom.

The MBA reports that overall application volume is down yet again, with lingering economic uncertainty and affordability issues keeping prospective buyers on the sidelines.

A recent Senate Banking Committee hearing addressed the nation’s homeownership gap, and provided recommendations on how to mend a market in peril.

A new analysis by Redfin found that home sales are being canceled at the highest rate recorded since the onset of the pandemic.

Ongoing affordability challenges and low inventory are pushing mortgage application volume back down, after a near-month-long stretch of trending upward, according to the MBA.

A new study from USMI has found a nine-year reduction in wait time in achieving homeownership to just five years with a 5% down payment insured mortgage.