Housing Wire

FEBRUARY 1, 2023

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. Meanwhile, applications for refinancings fell by 7%.

Fixed-rate mortgage 303

Fixed-rate mortgage Mortgages Marketing Loan Officer 303

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. The ESR group expects the annualized pace of existing home sales to move up to 4.5

Mortgages 540

Mortgages Fixed-rate mortgage Sales Equity 540

Housing Wire

AUGUST 10, 2023

The 30-year fixed mortgage rate continued its upward trajectory for the third consecutive week, rising to 6.96%, according to Freddie Mac. Since the last FOMC meeting in July, all eyes have been fixed on Thursday’s Consumer Price Index release. since May of this year, the 4.2

Fixed-rate mortgage 369

Fixed-rate mortgage Mortgages New Construction Loans 369

Housing Wire

MARCH 17, 2021

Mortgage applications dropped for the second straight week — falling 2.2%, according to the latest report from the Mortgage Bankers Association. The continued increase in mortgage rates is to blame, according to MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan. from 11.6% the week prior.

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages Loans Construction 397

Housing Wire

JULY 27, 2023

Mortgage rates rose slightly this week ahead of the Federal Reserve Open Markets Committee ‘s rate hike. The 25-basis point increase to the federal funds rate was widely anticipated and priced in by capital markets. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

Fixed-rate mortgage 302

Fixed-rate mortgage Mortgages Loans New Construction 302

Housing Wire

AUGUST 26, 2021

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.91%.

Fixed-rate mortgage 464

Fixed-rate mortgage Mortgages Loans Construction 464

Housing Wire

SEPTEMBER 29, 2023

Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. It’s no longer about just outlasting a bad market for a couple of months. “I There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Loan Officer 401

Loan Officer Mortgages Fixed-rate mortgage Loans 401

Housing Wire

JUNE 23, 2021

For the second week in a row, mortgage applications increased — this time, up 2.1% for the week ending June 18, 2021, per the latest report from the Mortgage Bankers Association. The 30-year fixed mortgage rate also rose to 3.18% — the highest level in a month, according to the MBA. the previous week. from 11.5%.

Fixed-rate mortgage 313

Fixed-rate mortgage Mortgages Loans Construction 313

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Economists believe that if the trend continues, the market will be able to improve in the second half of 2023. . ” Uptick in applications . .

Mortgages 403

Mortgages Fixed-rate mortgage Loans New Construction 403

Housing Wire

SEPTEMBER 23, 2021

The average 30-year-fixed mortgage rose, ever so slightly, to 2.88% for the week ending Sept. Mortgage rates have been roughly flat for months now. financial markets,” said Sam Khater, Freddie Mac’s chief economist. “The financial markets,” said Sam Khater, Freddie Mac’s chief economist. 22 was 1.32.

Mortgages 441

Mortgages Fixed-rate mortgage Construction Banks 441

Housing Wire

AUGUST 3, 2023

Mortgage rates continued to inch towards 7% this week as the 10-year treasury yields climbed past the 4% threshold. economy after Fitch Ratings downgraded the U.S.′ long-term, foreign currency issuer default rating from AAA to AA+ on Tuesday. Investors assessed the state of the U.S. The following day, the U.S.

Fixed-rate mortgage 308

Fixed-rate mortgage Mortgages Loans Sales 308

Housing Wire

OCTOBER 20, 2022

Mortgage rates have more than doubled from the beginning of the year and homebuyers facing affordability challenges are increasingly turning to adjustable-rate mortgages (ARMs) to reduce their monthly payments. A year ago at this time, rates averaged 3.09%. ARMs pick up steam.

Mortgages 391

Mortgages Fixed-rate mortgage Loans Construction 391

Housing Wire

JULY 20, 2023

Mortgage rates dropped to 6.78% this week, the biggest weekly decline since mid-March, as investors digested a raft of mixed incoming economic data. As inflation slows, mortgage rates decreased this week,” said Sam Khater, Freddie Mac ’s chief economist in a statement.

Mortgages 283

Mortgages Fixed-rate mortgage New Construction Construction 283

Housing Wire

MAY 30, 2023

Low inventory , maintained by an extremely low level of new listings coming onto the market, has fueled demand amongst the few buyers who can afford to stay shopping. As inventory remains a challenge in this market, so too will affordability be rocked by stubbornly high prices that aren’t looking to move drastically any time soon. “As

Mortgages 381

Mortgages Fixed-rate mortgage Construction New Construction 381

Housing Wire

MAY 27, 2021

Mortgage rates fluctuated again last week, down 5 basis points to 2.95% after managing to pop back up to 3% the week prior, according to Thursday data from Freddie Mac ‘s PMMS. Mortgage rates have been hovering around 3% for over a month now, as macro economic factors left the bond market hesitant over the global recovery.

Mortgages 457

Mortgages Fixed-rate mortgage Construction Sales 457

Housing Wire

JUNE 17, 2021

The average 30-year fixed-rate mortgage fell three basis points from the week prior to 2.93%, according to data released Thursday by Freddie Mac ‘s PMMS. This marks the first time in over two months mortgage rates have fluctuated outside a five basis point range above or below 3%.

Mortgages 442

Mortgages Fixed-rate mortgage Construction Development 442

Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

MAY 11, 2023

This week’s mortgage rates declined slightly, continuing a recent “sideways trend” at the low 6% mark. Rates reflected a moderation in inflation and the banking crisis, and the consequent expectation that the Federal Reserve ( Fed ) is done hiking the federal funds rate.

Mortgages 339

Mortgages Fixed-rate mortgage Construction Banks 339

Housing Wire

OCTOBER 15, 2021

Economists at Fannie Mae expect an increase mortgage rates and home prices in 2022 due to higher inflation , a tightening of monetary policy, and low home inventory. Fannie Mae in its October economic forecast said it expects the 30-year fixed rate mortgage to average 3.3% in 2022, up from 3.1%

Mortgages 488

Mortgages Fixed-rate mortgage Construction Banks 488

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Before the Federal Reserve raised the federal funds rate by 0.75 Will Savage, an LO at PMC Mortgage.

Mortgages 397

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 397

Housing Wire

JANUARY 19, 2024

Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November. But we can’t blame high mortgage rates for the deficit in transactions last year. In 2023, 4.09 million units in December, down 1.0%

Fixed-rate mortgage 412

Fixed-rate mortgage Sales MLS Mortgages 412

Housing Wire

MARCH 20, 2023

The Fed’s past actions in the name of checking inflation also threaten to break — or may already have broken — other critical economic sectors, including the housing market. More current spot market rent data, such as Zillow’s observed rent index , showed a month-over-month increase of 0.3%, significantly below the government figure of 0.8%.

Banks 353

Banks Mortgages Fixed-rate mortgage Loans 353

Housing Wire

DECEMBER 8, 2022

Mortgage rates continued the downward trend this week amid signs that the U.S. Inflation and labor market are slowing down, which means that the Federal Reserve does not need to increase the federal funds rate as aggressively as it did with the 75 basis point hikes from the last four meetings. in 2022, but by a 4.1%

Mortgages 350

Mortgages Fixed-rate mortgage Loans Construction 350

Housing Wire

NOVEMBER 2, 2022

Despite new language in the Federal Open Market Committee statement that suggested a potential slowdown in curbing inflation, Federal Reserve Chairman Jerome Powell maintained a hawkish tone on raising the federal funds rates during Wednesday’s press conference. It may be another year or two before that happens,” Yun said.

Industrial 385

Industrial Mortgages Fixed-rate mortgage Principal 385

Housing Wire

MARCH 27, 2023

The ongoing banking instability may affect the availability of jumbo mortgages and residential construction loans due to the high concentration of those originations stemming from small and mid-sized banks, Fannie Mae’s Economic and Strategic Research (ESR) Group said. While single-family housing starts rose 1.1%

Banks 329

Banks Fixed-rate mortgage Lending Construction 329

Housing Wire

FEBRUARY 27, 2023

Buyers responded to better affordability from falling mortgage rates in December and January,” Lawrence Yun, NAR’s chief economist, said in a statement. NAR expects the economy to continue adding jobs throughout 2023 and 2024, and the 30-year fixed rate mortgage to steadily drop to an average of 6.1% million units.

Sales 388

Sales Fixed-rate mortgage MLS Mortgages 388

Marco Santarelli

MAY 25, 2024

This is a great time to get informed about what's happening in the housing market. Housing Market 2024: Morgan Stanley Predicts Midyear Outlook Are Mortgage Rates Going Down? Housing Market 2024: Morgan Stanley Predicts Midyear Outlook Are Mortgage Rates Going Down? government pays on loans.

Marketing 95

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Housing Wire

AUGUST 24, 2023

in July from June to a seasonally adjusted annual rate of 4.07 Rising mortgage rates will also exert more downward pressure on sales. In the case of a recession scenario, interest rates would likely pull back somewhat, lessening the lock-in effect thereby potentially boosting the number of homes available for sale.

Land 259

Land Sales Fixed-rate mortgage Construction 259

Housing Wire

SEPTEMBER 20, 2023

The Federal Open Markets Committee paused its interest-rate hikes on Wednesday for the second time this year. Most Fed officials last June had penciled in two more rate rises this year, one in July and one more in the fall. Today’s decision not to raise rates will likely influence credit markets.

Fixed-rate mortgage 390

Fixed-rate mortgage Mortgages Investor MLS 390

Marco Santarelli

APRIL 20, 2024

As of April 19, 2024, the mortgage landscape in the United States has been marked by a period of fluctuation, with rates experiencing a slight increase. The average rate for a conventional 30-year fixed mortgage was reported at 7.22% , while the 15-year fixed mortgage stood at 6.657%. and reach 5.5%

Mortgages 119

Mortgages Fixed-rate mortgage Lending Banks 119

Housing Wire

MAY 3, 2023

The hike completes the fastest series of rate increases since the 1980s, as the central bank works to cool the economy and greatly reduce the pace of inflation, which also reached highs not seen in decades. In cutting some language about inflation targets, the Fed gave hints on Wednesday that it might be done hiking rates.

Banks 367

Banks Fixed-rate mortgage Loan Officer Mortgages 367

RIS Media

FEBRUARY 17, 2022

The latest January data on new residential construction points to a mostly stable housing market that, in some instances is trending downward, according to the monthly report from the U.S. Key findings: Authorized building permits for housing units were issued at a seasonally adjusted rate of 1,899,000. below December 2021.

Residential 97

Residential Construction Fixed-rate mortgage New Construction 97

Housing Wire

OCTOBER 21, 2020

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. However, he forecasted that rates will steadily rise over the next year. MBA forecasts mortgage originations to total $3.18

Mortgages 380

Mortgages FHA loan Fixed-rate mortgage Loans 380

Housing Wire

APRIL 22, 2021

A year after issuing its first Single-Family Green Mortgage Backed Security on Earth Day 2020, Fannie Mae has now completed 25 transactions for the program, totaling $167 million in bonds backed by mortgages on newly constructed, energy-efficient homes. but are well-established in Europe. ENERGY STAR 3.0 Horton, Lennar Corp.

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Fixed-rate mortgage Finance Investor Loans 314

Housing Wire

OCTOBER 29, 2020

mortgage rate for a 30-year fixed loan remained steady this week, gaining one basis point to 2.81%, Freddie Mac said in a report on Thursday. The average fixed rate for a 15-year mortgage was 2.32%, falling from last week’s 2.33%. The average U.S.

Mortgages 394

Mortgages Construction Loans Industrial 394

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. At least not in the foreseeable future, unless another pandemic would create favorable conditions for the housing market.

Loans 372

Loans Renovation Construction Mortgages 372

Marco Santarelli

APRIL 20, 2024

The US housing market has been on a wild ride in recent years. Soaring home prices fueled by historically low mortgage rates created a frenzy of buyer activity. Rising interest rates have cooled buyer enthusiasm, leading to slower sales and questions about the future. However, the tide seems to be turning.

Marketing 103

Marketing Pre-approval Fixed-rate mortgage New Construction 103