The mortgage market could be on the cusp of a bigger turnaround. The industry, already enjoying declining interest rates, is approaching a rate threshold that could unlock more refinance volume, said Andy Walden, head of mortgage and housing market research at Intercontinental Exchange. “An eighth of a point move, that little mini-move, gave us about […]
ICE’s Andy Walden: FHA performance a “yellow flag” right now Read More »
Limited economic data has economists expecting the Federal Reserve to maintain its rate-cutting posture, but other factors might be having a greater effect on mortgage lending, with the 30-year fixed rate mortgage interest rate average now at a 2025 low. Even with the relatively flat movement of yields, which often sway the direction of mortgage
Mortgage rates fall to lowest mark in over a year Read More »
For all of the handwringing from government officials and economists regarding whether the Federal Reserve will reduce short-term rates again this year, many Americans just don’t care, a Wallethub survey indicates. Most people are expecting the Federal Open Market Committee to cut further at its meeting on Oct. 28 and 29, plus making what would
Many Americans ho-hum about new Fed rate cut, survey finds Read More »
Mortgage applications decreased 0.3% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Oct. 17. On an unadjusted basis, the index decreased 0.2% compared with the previous week. The refinance index increased 4% from the previous week and was 81% higher than the same
ARM, refinance activity buck the trend of declining mortgage demand Read More »
A 5 basis point drop in conforming mortgage rates boosted loan refinance application volume this week, but overall activity was down from seven days’ prior, the Mortgage Bankers Association said. Its Market Composite Index found application activity inched 0.3% lower on a seasonally adjusted basis from seven days prior and fell 0.2% on an unadjusted
Purchase apps languish even though mortgage rates decline Read More »
The average interest rate on all outstanding mortgages in the U.S. is now 4.3%. You might be surprised to learn that by the end of the year, the average rate will be higher than the levels of Q1 2020, before the pandemic boom. For the average American mortgage holder, the incredible gains of the pandemic
What the latest mortgage data tells us about home sales in 2026 Read More »
The 10-year yield closed below 4% for the first time this year on Thursday, sending mortgage rates closer to year-to-date lows after a credit market scare. But this begs the question: have mortgage rates already priced in a lot of the economic news? Bond traders on Friday were less fearful of the Zions Bank $50
How can mortgage rates get to 5.75% by the end of the year? Read More »
Consumers who opt to purchase a home in January, one of the months with the lowest share of sales, could save over $23,000 on their buy versus May, one of the busiest, a LendingTree study found. In 2024, January had the lowest share of sales at 6.3%, while May had the most at 9.9%; although
When is the best time to buy a home? January. Here’s why Read More »
Mortgage rates declined for the second week in a row, as the 10-year Treasury in recent days has flirted with falling below the 4% mark. Last Thursday, the 10-year closed at 4.15%. As of 11 a.m. on Aug. 16, it was at 4.04%, helped by recent comments by Federal Reserve Chairman Jerome Powell regarding both
Mortgage rates move lower, driven by shutdown uncertainties Read More »
Rocket Mortgage might have been a few weeks behind its competition in announcing its presumptive 2026 conforming loan limit increase, but it took that time to go higher than the rest of the market. United Wholesale Mortgage, Pennymac, Crosscountry and Rate all announced in late September they were now purchasing single-family mortgages up to $819,000
Rocket’s 2026 early conforming limit hike tops others by $6k Read More »