Evidence of homeowners’ desire to refinance at the first signs of falling mortgage rates appeared in August’s data as rate-and-term transactions hit a 2025 high. Rate-and-term locks accelerated 69.8% from the prior month, according to Optimal Blue’s Market Advantage report. Compared to August 2024, though, volumes finished 8.7% lower. Cash-out refinances also saw a monthly […]
Rate-and-term refi activity hits 2025 high mark Read More »
The housing market could see a bump this fall akin to the traditional spring homebuying season. The steady mortgage rate decline and an atypical summer for home price growth could bring buyers off the sidelines, property analytics firm Cotality suggested in a recent report. Rates today are at their lowest point since last September, when
Buyers may flood market this fall. Here’s why Read More »
The headlines about potential declines in mortgage rates has consumers more inclined to become home buyers, but views on selling took a hit last month, Fannie Mae reported. Its Home Purchase Sentiment Index for August was 71.4, a 0.4 point decline from July. The only months in the past 12 which the index was lower
Buyers gain hope on rates, sellers turn cautious Read More »
Mortgage rates reached another 11-month low this past week, as markets are pricing in an expected short-term rate cut from the Federal Open Market Committee later this month. This follows a week where one long-term Treasury rate showed serious volatility. The 30-year Treasury bond posted a yield just shy of 5% during trading on Sept.
Mortgage rates sink with FOMC cuts on the horizon Read More »
For the first time since 2016, the number of American households who are homeowners declined on an annual basis, in another signpost that high home prices and elevated interest rates are taking people out of the market, a Redfin study of U.S. Census data found. The study estimated about 86.2 million Americans own their home,
U.S. homeownership falls for first time since 2016 Read More »
The lowest interest rates in months couldn’t bring an influx of borrowers to the table in the run-up to Labor Day, as application volume declined for the third straight week, the Mortgage Bankers Association said. The MBA’s Market Composite Index, a measure of weekly application volume based on a survey of association members, dropped a
Mortgage application activity decreases despite lower rates Read More »
Residential construction spending saw its first monthly increase in six months this summer, as builders navigated their way through housing market and tariff-related challenges. While construction spending rose month over month in June, it still came in well under levels of a year ago, the National Association of Home Builders said in its analysis of
Home construction spending rises for first time in months Read More »
The softening housing market is starting to show up in slightly smaller mortgage payments. Home buyers paid up to $45 less on mortgage applications in July compared to June, according to the Mortgage Bankers Association. While some home loans are still more expensive than the same time last year, the trade group said buying power
How did monthly mortgage payments shrink this summer? Read More »
US pending sales of existing homes fell for a second month in July as potential buyers balked at still-elevated prices and borrowing costs, consistent with a sluggish housing market. An index of contract signings slipped 0.4% last month to 71.7, around where it’s lingered for much of the year, according to National Association of Realtors
US pending home sales fall again on affordability constraints Read More »
Mortgage originations increased in the second quarter led by a boost in refinances, but the numbers show signs of the challenges the housing market still presents to lenders, according to new findings from Attom. Total origination volume between April and July clocked in at 1.76 million transactions, jumping 19.4% from the first quarter’s 1.47 million,
Refinances drive originations growth in Q2 Read More »