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 »Senior Home Equity Rose to $12.7 Trillion in Q2
According to NRMLA, senior home equity rebounded in the second quarter of 2023, as housing wealth for U.S. homeowners aged 62 years and older rose by $820 billion in Q2.
Read More »Nearly 7 in 10 Americans Feel Cost of Living Outpacing Worker Salaries
A new BofA study revealed that American employees continue to feel stressed about their finances and remain concerned about the increasing cost of living, with an estimated 67% of American employees reporting that the cost of living is outpacing growth in their salary or wages.
Read More »Fed Pauses Rate Hike, Mortgage Rates Follow Suit
Mortgage rates gained just one basis point week-over-week according to Freddie Mac, marking the sixth consecutive week that the 30-year rate exceeded the 7% mark, pushing down home builder sentiment nationwide.
Read More »Economic Strength Keeping Mortgage Rates Above 7% Mark
As challenges persist for first-time homebuyers, mortgage rates trended upward yet again, rising six basis points week-over-week and remaining above the 7% mark for the fifth straight week.
Read More »Mortgage Rates Top 7% for Fourth Straight Week
“The housing market appears to be stuck heading into autumn, with sales activity likely to stay stagnant until housing inventory increases, and mortgage rates decline to more affordable levels,” said MBA President and CEO Bob Broeksmit. Click through to read more on this week's mortgage rates.
Read More »Where Will Mortgage Rates Be at the End of 2023?
As the average 30-year fixed mortgage rate nears 8%, new commentary from First American Chief Economist Mark Fleming details the predictions of where mortgage rates will end up throughout the remainder of the year.
Read More »Gen Zers Finding More Credit Product Availability
The Q2 2023 TransUnion Credit Industry Insights Report reveals the latest credit trends as lenders have begun to tighten underwriting. Some 50% of Gen Zers surveyed say they plan to apply for new credit or refinance existing credit within the next year.
Read More »Rents ‘Flattening Out’ in Face of Cooling Inflation, Consumer Spending
According to a new report from Redfin, only Western regions are experiencing a drop in asking rents, which are continuing to cool after surging nearly 20% last year.
Read More »Study: How Much Americans Spend Annually on Household Bills
While households nationwide continue to struggle with the increased cost of living, doxoINSIGHTS’ 2023 State by State Bill Pay Market Report revealed the average American is spending almost $25,000 per year on household expenses, with 73% of consumers reporting that inflation is currently impacting their ability to pay bills.
Read More »