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More homebuyers seek government-backed loans as an affordability lifeline

Housing Wire

The company’s newest National Housing Market Outlook shows that buyers are gravitating toward government-backed loans in their search for affordability. As a result, more buyers are turning to products like Federal Housing Administration (FHA) loans, which accounted for 24% of primary home purchases in 2024, and U.S.

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Mortgage demand falls for the first time in five weeks as interest rates increase

Housing Wire

Market data at HousingWire ‘s Mortgage Rates Center showed an average fixed rate of 6.87% for 30-year conforming loans on Wednesday, a slight increase from the week ending on Dec. “Conventional and VA purchase applications drove this week’s increase in purchase activity on a weekly and annual basis,” Kan added.

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Rocket completes Redfin deal, announces Rocket Preferred Pricing

Housing Wire

A press release from Rocket also announced Rocket Preferred Pricing, which allows homebuyers who use Rocket Mortgage for financing and either purchase a Redfin-listed home or work with a Redfin agent to receive a one-percentage-point interest rate reduction for the first year of their loan or a lender credit of up to $6,000 at closing.

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NAR: Homebuyers still have down payment misconceptions

Housing Wire

Despite growing attention around all-cash transactions, most Americans — especially first-time buyers — continue to finance their home purchases, according to new data from the National Association of Realtors (NAR). Among primary residence buyers, 74% financed their home purchase in 2024. Another 9% used U.S. Another 9% used U.S.

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Mortgage demand is up 5.4% as interest rates ramp down

Housing Wire

Data at HousingWire ‘s Mortgage Rates Center showed an average rate of 6.85% for 30-year conforming loans on Wednesday, a slight decrease from the week ending Dec. Government loan activity saw a slight jump. Department of Veterans Affairs (VA) loans followed suit, jumping 270 bps to 16.3% of all applications.

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Mortgage demand jumps 6.3% as rates level off

Housing Wire

22, driven by a 12% increase in demand for purchase loans, according to data released Wednesday by the Mortgage Bankers Association (MBA). The increase in conventional purchase applications helped push the average purchase loan size to $439,200, its highest level in almost a month. But government loans saw their shares shrink.

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ARMs, government loans are the hottest things in mortgage

Housing Wire

You’ve lowered the MIP; you’re making that mortgage insurance for that high-LTV loan cheaper. ” Homebuilders now have about 500,000 homes on the market, and their financing arms are another potential source of relief. It was a more affordable mortgage.”