Mortgage rates were unchanged as the markets await what Federal Reserve Chairman Jerome Powell will say on Friday. At the same time, a 10-basis point rise in the 10-year Treasury between Aug. 13 and Aug 18 was partially reversed by two days later in anticipation of a speech possibly hinting at September Fed Funds Rate […]
Mortgage rates remain flat as markets wait for Powell speech Read More »
Mortgage rates are a crucial factor in any real estate purchase, particularly given the significant rise in rates over the past few years. With the Fed meeting coming up in September, there is anticipation that they will drop, but rates are constantly shifting, presenting some potential difficulties for clients shopping near the top end of
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Mortgage applications decreased 1.4% from one week earlier, according to data from the Mortgage Bankers Association (MBA)’s weekly mortgage applications survey for the week ending Aug. 15. Without taking seasonal adjustments into account, the index decreased 2% compared with the previous week. The refinance index decreased 3% from the previous week but was 23% higher
Mortgage applications shrink as VA loan demand declines Read More »
US mortgage rates dropped last week by the most since February, enticing homeowners to step up refinancing. The contract rate on a 30-year mortgage declined 10 basis points to 6.67% in the week ended Aug. 8, according to Mortgage Bankers Association data released Wednesday. The rate on a 15-year mortgage retreated below 6% for the
30-year mortgage rate declines by most since February Read More »
Housing market dynamics have grown more favorable for buyers and sellers in August, and it’s possible that the fall of 2025 could see even better conditions if mortgage rates return to 6%. But they haven’t approached that level in nearly a year and haven’t been consistently below that threshold since late 2022. Rates have been
Mortgage rates continue their slow march toward 6% Read More »
Fannie Mae’s August mortgage origination forecast predicts lower volume in 2025 and 2026 compared with July as the government-sponsored enterprise moved its rate expectations higher. It now expects total home sales to decline year-over-year. Fannie Mae is still looking for existing home sales to rise, but not by as much previously expected. The drop off
Fannie Mae cuts outlook for 2025–26 home sales Read More »
Among the nation’s 50 largest metro areas, half, primarily in the north and east, had annual home price increases in July, while the others are reporting downturns, Zillow found. Nationwide, year-over-year home price appreciation was a meager 0.2%. While this helped to marginally improve affordability, with average monthly mortgage costs down $19 over the past
Half of largest housing markets record home price downturns Read More »
Mortgage originations and home equity lending both increased in the second quarter despite elevated interest rates and home prices, according to TransUnion’s Q2 2025 Credit Industry Insights Report. Originations rose 5.1% year over year, driven largely by a rebound in refinancing. Rate-and-term refinances climbed 44% and cash-out refinances increased 15%. Home equity originations posted their
TransUnion: Mortgage, home equity lending grow despite high rates Read More »
The real estate market is looking up, at least according to property investors. But even amidst the sunny outlook, many of them still worry about tariffs, high insurance and a possible recession. Optimism among real estate investors improved, according to the most recent Investor Sentiment Index. The index rose to 102, up from 88 in
Real estate investor sentiment up despite economic worries Read More »
Mortgage rates this week fell to their lowest level since October, supported by one better than expected inflation report as well as ongoing concerns regarding employment data. But an unexpected finding in the Bureau of Labor Statistics July Producer Price Index report could put a hold on a potential September Federal Open Market Committee short-term
Mortgage rates move lower on inflation, employment news Read More »