As mortgage rates dropped toward levels last reported in May 2023, the MBA reported a rise in purchase application activity, led by both Conventional and FHA purchase apps.
Read More »Credit Availability Falls to Decade-Plus Low
“Credit availability declined in December to the lowest level since 2012, as ongoing industry consolidation is resulting in more loan programs being removed from the marketplace,” said Joel Kan, MBA’s VP and Deputy Chief Economist.
Read More »Freddie Mac: Mortgage Rates to Continue ‘to Drift Downward’ in the New Year
Freddie Mac reports a slight one basis-point rise in the 30-year, fixed-rate mortgage to begin 2024, with rates moving sideways as the market digests incoming economic data for the new year. Here’s what they expect for the months ahead.
Read More »Sliding Mortgage Rates Renew Buyer Interest in November
Pending home sales in November remained the same as October 2023's report, however NAR expects that to change as the downward trend in mortgage rates is expected to shift home sales upward to close out 2023.
Read More »U.S. Home Prices Gain for Ninth Consecutive Month
Data compiled by S&P Dow Jones Indices has shown that 11 of the 20 major metro markets reported month-over-month price increases in October, with Detroit keeping pace as the fastest growing market nationwide.
Read More »Mortgage App Volume Rises to Six-Week High
Homebuyers nationwide are finding some relief entering the Thanksgiving holiday, as mortgage rates have fallen to levels last reported in late-September, garnering interest from buyers and driving up overall app volume to levels not seen in over a month.
Read More »Cost of Living, Mortgage Rates Keeping Many Homebuyers ‘on the Sidelines’
Freddie Mac reports a second week-over-week slide in the 30-year fixed-rate mortgage, as markets adjust to the Fed’s second consecutive pause in rate hikes. Here are the factors a Freddie Mac economist says are allowing the housing market to “remain stagnant.”
Read More »Mortgage Rates Dip as Fed Continues ‘Wait and See’ Approach
A drop of just three basis points in the 30-year fixed rate mortgage provided little relief to prospective buyers, as ambiguity around monetary policy will likely continue to stall improvements in the housing market through the end of the year.
Read More »Continued Mortgage Rate Hikes Subduing Homebuyer Demand
As we head into Halloween, mortgage rates continue to edge closer to the 8% mark, resulting in the longest consecutive rate rise reported since the Spring of 2022. Click through to see what else buyers may fear as we enter the final months of 2023.
Read More »Average Nationwide Mortgage Payment Drops Slightly in September
The MBA reports that affordability improved slightly for the nation’s homeowners in September, as the national median payment applied for by purchase applicants fell slightly month-over-month. Click through to learn more about the changes.
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