Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced

REM Online

The original post can be found at the following URL: Fixed-rate mortgages favoured by first-timers; hybrid mortgage introduced. A recent survey by BMO says 57 per cent of homeowners are planning to opt for a fixed-rate mortgage.

Fewer people are submitting mortgage applications

Housing Wire

Mortgage applications dropped for the second straight week , this time down 4% for the week ending May 28, 2021, according the Mortgage Bankers Association ‘s weekly mortgage applications survey. “Even though rates have been below 3.2%

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Mortgage applications decrease 4%

Housing Wire

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. of total mortgage applications from 63.3%

Mortgage applications recover as winter storms pass

Housing Wire

Mortgage applications recovered slightly from last week , increasing 0.5% 26, 2021 according to the latest report from the Mortgage Bankers Association. That is despite the fact that the 30-year fixed rate experienced its largest single-week increase in almost a year, reaching 3.23%.

5 Signs a 30-Year Fixed Rate Mortgage Is Not for You

Realtor.com

scyther5/iStock The 30-year fixed rate mortgage has stood as the gold standard for American home buyers since 1954, when the Federal Housing Administration broadly adopted it. So why is this the go-to mortgage for most people?

Mortgage applications jump 16%

Housing Wire

After several consecutive weeks of drops, mortgage applications jumped 16% for the week ending July 9, 2021, according to the latest report from the Mortgage Bankers Association. The refinance share of activity of total mortgage applications increased to 64.1%

Mortgage applications jump as rates plummet

Housing Wire

Mortgage applications increased 5.7% for the week ending July 23, mostly on the back of fast-falling mortgage rates. And the 15-year rate fell to a record low last seen in 1990. Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity.

ARM vs. Fixed-Rate Mortgage: Which Home Loan Is Better for You?

Realtor.com

If you’re raring to buy a home , chances are you’ll need a mortgage. But which kind of mortgage should you get? One good place to start figuring out your options is a mortgage calculator , where you can plug in various home prices and and have this sum broken down into monthly payments.

US 30-Year Fixed-Rate Mortgages Are Now Over 5%, The Highest Since 2009

Better Dwelling

US mortgage rates are climbing nearly as fast as they were cut just a few months ago. Freddie Mac released its Primary Mortgage Market Survey this week. They found the 30-year fixed rate mortgage is now well over 5%, the highest rate since 2009.

Mortgage rates remain at record-low levels

Housing Wire

After falling to the lowest rate in Freddie Mac’s Primary Mortgage Market Survey’s near 50-year-history last week, the average U.S. mortgage rate for a 30-year fixed loan remained at a survey-low 2.67% this week.

Mortgage rates jump to 3.92% amid high inflation

Housing Wire

The average 30-year-fixed rate mortgage climbed to 3.92% for the week ending Feb. It’s the highest level since May 2019, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.81%.

30-year rate drops below 3% for first time since February

Housing Wire

Mortgage applications fell 1.7% in the week ending July 30, according to the latest report from the Mortgage Bankers Association. That’s despite the 30-year fixed rate falling to its lowest level in roughly six months. on the strength of descending mortgage rates.

Mortgage applications fall for third straight week

Housing Wire

Mortgage applications decreased again , this time falling 1.8% in the week ending July 2, 2021, according to the latest report from the Mortgage Bankers Association. “However, rates continued to move lower, especially late in the week.”

Mortgage applications fall amid market jitters

Housing Wire

Mortgage applications decreased 4% for the week ending July 16, just one week after applications jumped 16% on the strength of falling mortgage rates. This, in turn, led to mixed changes in mortgage rates. The FHA share of total mortgage applications increased to 9.6%

Mortgage applications rebound as mortgage rates drop

Housing Wire

After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% 11 amid mortgage rates that hit a new survey low. The refinance share of mortgage activity increased to 72.7%

Mortgage applications rise again, despite rates jump

Housing Wire

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.

Mortgage applications decrease as rates move higher

Housing Wire

Mortgage applications decreased 1.9% 15 from one week earlier , per data from the Mortgage Bankers Association’s weekly survey. The 30-year fixed rate rose to 2.92%, its highest level since last November. The FHA share of total mortgage applications decreased to 9.3%

Delta variant fears send 30-year mortgage rates to 2.77%

Housing Wire

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%.

Mortgage applications drop, but spring buying season looms

Housing Wire

After a slight increase in late February , mortgage applications dipped 1.3% in the week ending March 5, according to the latest report from the Mortgage Bankers Association. The FHA share of total mortgage applications decreased to 11.6%

Mortgage Refinancing Activity Tapers in Latest Month

Eyes on Housing

The last four weeks’ mortgage purchasing and refinancing activities, as reflected in the Mortgage Bankers Association’s (MBA) latest weekly application surveys, shows a general withdrawal of refinancing and a very slight increase in purchasing from the prior month.

Mortgage rates stuck in a rut at 2.87%

Housing Wire

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates also held steady at 2.87%.

Mortgage applications continue to fall as rates climb

Housing Wire

Mortgage applications dropped for the second straight week — falling 2.2%, according to the latest report from the Mortgage Bankers Association. Rates have jumped north of 3% , with most recent reports showing it hovering around 3.5%.

As mortgage rates climb, applications fall six basis points

Housing Wire

For the second week in a row, mortgage applications faltered slightly, falling 0.6% from the week prior, according to a report from the Mortgage Bankers Association. The 30-year fixed rate climbed two basis points to 3.02, the highest since late September.

Mortgage applications see slight decline despite 3% mortgage rate

Housing Wire

Mortgage applications held relatively steady last week, falling 0.7% from the week prior, according to a report from the Mortgage Bankers Association. Refinances also continued to inch closer to two-thirds share of mortgage activity as they increased to 65.6%

Higher Rates Reduce Mortgage Demand

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending July 1, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate reaching 5.8%

In volatile market, Angel Oak sets 30-day rate lock period

Housing Wire

Atlanta-based non-QM wholesale lender Angel Oak Mortgage Solutions has updated its rate lock policy to a 30-day lock period due to the fast-rising interest rates landscape. That’s been playing out over the last few months due to massive rate increases.

High Rates Suppress Refinancing

Eyes on Housing

Per the Mortgage Bankers Association (MBA), through the week ending June 3, total mortgage activity decreased, with the 30-year fixed-rate mortgage (FRM) rate increasing to 5.45%, on average.

Rising rates push mortgage applications down for fifth week

Housing Wire

Mortgage applications decreased for the fifth straight week – this time down 5.1%, according to the latest report from the Mortgage Bankers Association. Refinance mortgage applications declined for the fifth straight week. The 30-year fixed rate moved up to 3.6%

Bye, bye refi: Purchase mortgage apps overtake refis

Housing Wire

It’s official: the mortgage industry has entered a purchase era , with refinance applications declining below 50% of the mix for the first time since June 2019, the Mortgage Bankers Association (MBA) reported on Wednesday. Mortgage applications decreased 0.7%

Freddie Mac now forecasts $3.9T in originations in 2021

Housing Wire

The low mortgage rates that propelled the housing market throughout the COVID-19 pandemic will rise later in the year, but they’ll do so gradually, Freddie Mac said Thursday in its quarterly outlook. That will give more homeowners a final opportunity to refinance their mortgages.

Refinancing Activity Down 82% Compared to August 2021

Eyes on Housing

Per the Mortgage Bankers Association’s (MBA) survey through the week ending August 5th, total mortgage activity increased slightly and the average 30-year fixed-rate mortgage (FRM) rate rose four basis points to 5.47%.

Top 5 mortgage terms to know before you buy a house

Housing Wire

The mortgage application process can be a confusing one — especially if you’ve never gone through it before. Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. The differences between FHA, VA, and USDA mortgages.

Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low

Eyes on Housing

Read More › Economics 30-year fixed-rate mortgage conventional loans conventional loans market share FHA FHA loans financing new home cash purchases new home sales sales by financing VA VA loans

Alongside rising yields, mortgage rates increase to 2.79%

Housing Wire

The average mortgage rate for a 30-year fixed loan rose from its previous record low by 14 basis points this week to 2.79%, according to Freddie Mac ’s Primary Mortgage Market Survey. This marks the first time mortgage rates have risen in almost two months.

Rising mortgage rates push applications lower

Housing Wire

For the second week in a row , mortgage applications decreased – this time, down 4.1% 22, according to data from the Mortgage Bankers Association. The 30-year-fixed rate rose to 2.95%, its highest level since November 2020, according to Joel Kan, MBA associate vice president of economic and industry forecasting. All other mortgage rates in the survey posted a decline. The FHA share of total mortgage applications increased to 9.4%