Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. economy through full employment, stable prices and moderate long-term interest rates.

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Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.12% as of Sept.

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Housing Wire

DECEMBER 28, 2023

As we prepare to bid adieu to 2023, mortgage rates this week again stayed below seven percent. The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, a slight decrease from the 6.67% rate recorded on Dec. 21 according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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Housing Wire

SEPTEMBER 28, 2023

Just before noon on Thursday, they were Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.31% as of Sept. By contrast, the 30-year fixed-rate mortgage was at 6.70% a year ago at this time.

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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. Nik Shah, CEO of Home LLC.

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Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

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Housing Wire

JANUARY 4, 2024

In the first week of 2024, mortgage rates continued to stick around the mid 6% mark. The 30-year fixed-rate mortgage averaged 6.62% as of Jan. 4, a slight increase from the 6.61% rate recorded on Dec. 28 , according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. The lender brought on 100 loan officers in June, bringing the total number of LOs to about 800. The goal is to expand its overall market share to 1% this year from 0.6%.

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Realtor.com

APRIL 30, 2021

If you’re raring to buy a home , chances are you’ll need a mortgage. But which kind of mortgage should you get? Home loans aren’t one size fits all, but come in a variety of forms to suit home buyers in different circumstances. So what’s the difference between these two types of home loans? Fixed-rate mortgage.

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Housing Wire

MARCH 1, 2023

Data on inflation , employment and economic activity signaled that inflation may not be cooling as quickly as anticipated, putting upward pressure on rates, Kan explained. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances that are greater than $726,200 remained at 6.44% during the same period. .

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Housing Wire

SEPTEMBER 23, 2020

9 , Joel Kan, MBA’s associate vice president of economic and industry forecasting, said the recent rebound in refinance activity was driven mainly by borrowers applying for conventional loans. The adjustable-rate mortgage (ARM) share of activity fell slightly to 2.2% of total applications. from 3.07%.

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Housing Wire

JANUARY 19, 2022

Mortgage applications increased 2.3% from the previous week, largely due to a strong purchase market, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement.

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Housing Wire

OCTOBER 12, 2023

Mortgage rates kept climbing for the fifth consecutive week, bringing average year-over-year rates 60 basis points higher. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year, fixed-rate mortgage averaged 7.57% as of Oct.

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Housing Wire

SEPTEMBER 20, 2023

In the week leading up to the Federal Open Market Committee meeting, mortgage applications finally ticked up. 15, mortgage applications rose 5.4% from the prior week , according to data from the Mortgage Bankers Association. The refinance share of mortgage activity increased to 31.6% For the week that ended Sept.

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Housing Wire

OCTOBER 5, 2023

Mortgage rates kept climbing this week as spreads on the 10-year Treasury yield widened, reaching a 16-year high. Freddie Mac ‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.49% as of Oct.

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Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8% in the same period.

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Housing Wire

SEPTEMBER 9, 2020

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, last week’s drop in rates led to the rebound in refinance activity – driven mainly by borrowers applying for conventional loans. Nevertheless, there continues to be resiliency in the purchase market. from 3.41%.

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Housing Wire

SEPTEMBER 27, 2023

In the week following the Federal Open Market Committee ‘s meeting, mortgage applications sunk. 22, mortgage applications fell 1.3% from the prior week , according to data from the Mortgage Bankers Association. And the purchase market saw applications down 2% over the prior week and 27% behind last year’s pace.

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Housing Wire

FEBRUARY 7, 2024

Mortgage demand picked up last week as lower interest rates steered homebuyers back into the market, but activity remains weaker than a year ago because of limited inventory. Mortgage applications increased by 3.7% Mortgage applications increased by 3.7% The 30-year fixed-rate mortgage averaged 6.63% as of Feb.

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Housing Wire

NOVEMBER 2, 2023

However, mortgage rates still remain at a 23-year high. The 30-year fixed-rate mortgage averaged 7.76% as of Nov. 2, according to Freddie Mac ‘s Primary Mortgage Market Survey. The Federal Reserve again decided not to raise interest rates but have not ruled out a hike before year-end.

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Housing Wire

JULY 14, 2021

.” The sheer amount of bidding wars decreased from May to June, per a study released this week from Redfin, as more homes for sale have slowly hit the market in the past month. The refinance share of activity of total mortgage applications increased to 64.1% from 61.6% the previous week.

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Housing Wire

JANUARY 13, 2021

“Even with the rise in mortgage rates, refinancing did not slow to begin the year, with the index hitting its highest level since last March,” said Kan. “Both conventional and government refinance applications increased, with applications for government loans having their strongest week since June 2012.”. from 10.1%

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Housing Wire

FEBRUARY 2, 2023

The Federal Reserve Chairman Jerome Powell maintained a hawkish tone during his speech at a press conference on Wednesday afternoon — but it wasn’t hawkish enough to keep optimism from spreading across the markets as mortgage rates dropped closer to 6%. In turn, mortgage rates started a free fall.

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Housing Wire

JULY 13, 2022

June was a rough month for jumbo-mortgage securitizations, with only two private-label offerings brought to market valued at roughly $821 million. The two jumbo-loan deals that did make it out of the gate last month were issued by Rocket Mortgage and J.P. Morgan Chase via the Rocket Mortgage Trust and J.P.

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Housing Wire

JUNE 28, 2022

Roughly a year ago, the Austin-based fintech began to sell its loans to First Guaranty Mortgage Corporation (FGMC), a lender and investor that specializes in non-qualified mortgage loans and is controlled by behemoth investment management firm Pacific Investment Management Company (PIMCO). . Treasury rates. .

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Housing Wire

JANUARY 11, 2024

Mortgage rates ticked up this week as the 10-year Treasury yield made its way back above 4%. The 30-year fixed-rate mortgage averaged 6.66% as of Jan. 11, a slight increase from last week’s 6.62%, according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

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Housing Wire

SEPTEMBER 6, 2023

Though mortgage rates came down to 7.18% last week, they remained more than a full percentage point higher than a year ago. Mixed data on the health of the economy and signs of a cooling job market has not done enough to bring them down, noted Kan. At Mortgage News Daily , 30-year fixed-rate mortgage rates were at 7.21%.

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Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6%

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Housing Wire

JULY 7, 2021

Treasury yields have been volatile despite mostly positive economic news, including last week’s June jobs report, which showed ongoing improvements in the labor market,” said Joel Kan, MBA associate vice president of economic and industry forecasting. “However, rates continued to move lower, especially late in the week.”

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Housing Wire

DECEMBER 22, 2021

Mortgage applications fell 0.6% 17, with fewer borrowers looking for purchases in the lower end of the market, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. Compared to a year ago, mortgage applications declined across the board. The overall market composite index dipped 31.9%

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Housing Wire

AUGUST 4, 2021

on the strength of descending mortgage rates. Mike Fratantoni, MBA’s senior vice president and chief economist, said this past week’s drop in mortgage applications can be attributed to the market’s assessment of the latest COVID-19 delta variant. for 80% LTV loans. for 80% LTV loans.

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Housing Wire

JULY 28, 2021

Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity. “With over 95% of refinance applications for fixed rate mortgages, borrowers are looking to secure a lower rate for the life of their loan,” Kan said Wednesday. from 64.9% the previous week. from 10.5%.

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Housing Wire

JUNE 23, 2021

. “Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan said, “Government purchase applications drove most of last week’s increase, which also contributed to a slightly lower overall average purchase loan size.”.

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Housing Wire

DECEMBER 9, 2021

Mortgage rates decreased one basis point to 3.10% in the week ending Dec. 9, remaining low and stable despite tighter housing supply and affordability, according to the latest Freddie Mac PMMS mortgage report. Economists at Freddie Mac said the 15-year fixed-rate mortgage averaged 2.38% last week, down from 2.39% the week prior.

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Housing Wire

FEBRUARY 21, 2024

“Potential homebuyers are quite sensitive to these rate changes, as affordability is strained with both higher rates and higher home values in this supply-constrained market.” The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, according to Freddie Ma c ’s Primary Mortgage Market Survey.

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Housing Wire

AUGUST 23, 2023

Mortgage applications fell for the fifth consecutive week as the 30-year fixed-rate mortgage rose to 7.31%, its highest level since December 2000. For the week that ended August 18, mortgage applications fell 4.2% from the prior week , according to data from the Mortgage Bankers Association. from 13.8%

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Housing Wire

DECEMBER 16, 2020

“This is perhaps a sign that more first-time buyers are entering the market,” Kan said. He added that purchase applications rose for the sixth straight week to the highest levels since June. The unadjusted purchase index also increased, jumping 0.4% from the previous week.

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