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.
Read More »Mortgage Rates Fall Ahead of Fed Rate Hike
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.
Read More »Mortgage App Volume Dips for Fourth Consecutive Week
The MBA reports that overall application volume is down yet again, with lingering economic uncertainty and affordability issues keeping prospective buyers on the sidelines.
Read More »Housing Markets Shifting Toward a ‘New Equilibrium’
Month-over-month, home prices fell 0.9% in May, as CoreLogic S&P Case-Shiller reports actions by the Federal Reserve to cool the market have made mortgage financing more expensive for buyers nationwide.
Read More »Mortgage Application Activity Falls to 22-Year Low
Rising rates and a dwindling demand for refis has pushed mortgage applications down for a third consecutive week, falling to lows last seen in 2000.
Read More »After Sharp Drop, Mortgage Rates Spring Back Upward
Freddie Mac reports that mortgage rates climbed back upward to 5.51% this week, just one week after a sharp drop and paced by “runaway” inflation.
Read More »Mortgage Purchase Activity ‘Hamstrung’ by Market Forces
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.
Read More »After Three-Week Ascent, Mortgage Rates Slip
Following a near-month-long 72-basis point rise, fixed-rate mortgages turned downward this week, signaling a potential reset in the housing market.
Read More »Refi Apps Tumble 80% YoY
As fixed-rate mortgages crawl to the 6%-mark, mortgage application volume did rise slightly for the third consecutive week, but refinance volume trended in the opposite direction, falling 80% year-over-year.
Read More »New Home Sales Pick Up Strength in May
Sales of new single‐family homes in May rose to 696,000, a 10.7% month-over-month rise of April’s recorded total of 629,000.
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