Housing Wire

JUNE 2, 2021

Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said. The post Fewer people are submitting mortgage applications appeared first on HousingWire.

Fixed-rate mortgage

Housing Wire

DECEMBER 21, 2023

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.68% on Thursday. Lower rates will have a positive impact on affordability, Lisa Sturtevant, chief economist at Bright MLS, said in a statement. by the end of next year. Another obstacle?

Mortgages

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% 12 compared to a week earlier.

Fixed-rate mortgage

Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages

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.

Fixed-rate mortgage

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. Rates for jumbo loan balances (greater than $647,200) went from 6.14% to 5.97% in the same period. . ” Uptick in applications .

Mortgages

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. for 30-year fixed-rate loans.

Marketing

Housing Wire

AUGUST 10, 2023

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 6.96% as of August 10, up from last week ’s 6.90%. By contrast, the 30-year fixed-rate mortgage was at 5.22% a year ago at this time.

Fixed-rate mortgage

Housing Wire

JULY 27, 2023

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 6.81% as of July 27, up from last week ’s 6.78%. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

Fixed-rate mortgage

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. Homebuilder sentiment rose for the seventh consecutive month and new construction activity slightly pulled back as the cost of materials picked up.

Mortgages

Housing Wire

SEPTEMBER 22, 2022

“Now the Fed has signaled that it will hike rates several more times this year and next year, so mortgage rates have plenty of room to go up even more.”. We do not see new construction returning in a meaningful way any time soon. Kurt Carlton, President of New Western. According to the NAR, there were 1.28

Mortgages

Housing Wire

NOVEMBER 1, 2022

30-year fixed rate mortgages were at a historic 2.68% low as recently as December 2020 according to Freddie Mac , but skyrocketing property values pushed many frustrated buyers out of the market and into renting. Student Loan Debt. Since 2008, major banks have pumped over $25 trillion into the global economy.

Fixed-rate mortgage

Housing Wire

DECEMBER 12, 2023

The gap peaked in November 2022, when the average note rate for new construction sales was one percentage point lower than the rate for existing home sales. Limited to loans with CLTV 76-80 and FICO 720-770 to control for the effect of loan level pricing adjustments. Bin width is 0.125.

Debt-to-income ratio

Housing Wire

DECEMBER 20, 2022

After record sales in 2021, demand for new construction waned throughout 2022 as the Federal Reserve raised interest rates cutting into home buyer’s purchase power and making financing new development projects even more costly for builders. It’s fair to say that 2022 has been a depressing year for homebuilders.

Construction

RIS Media

FEBRUARY 17, 2022

Freddie Mac released its latest Primary Mortgage Market Survey (PMMS), showing that the 30-year fixed-rate mortgage (FRM) reached an average of 3.92%, for the week ending February 17, 2022. Key findings: 30-year fixed-rate mortgage averaged 3.92% with an average 0.8 ®, Danielle Hale.

Fixed-rate mortgage

Realtor.com

NOVEMBER 7, 2022

“Occasionally, builders may have some wiggle room to provide to a buyer something like a refrigerator—new construction doesn’t always include one—or blinds, or something along those lines, to incentivize a buyer further to make a move during a specific time frame, like by the end of the month or quarter,” says Mackey.

New Construction

Toronto Realty Blog

SEPTEMBER 19, 2024

TorontoRealtyBlog Scotiabank has no problem extending an 80% loan-to-value on investment properties, but they charge a 25 basis-point premium. TD Bank doesn’t charge the 25 basis-point premium, and their rates are very competitive, but they insist on a 75% loan-to-value. They’re not dropping their rate accordingly.

Mortgages

Realtor.com

MAY 3, 2021

Now, there isn’t enough new construction to meet demand and investors aren’t going wild driving up prices. Most importantly, bad mortgages—the key factor in the financial crisis—have largely disappeared from the market. Or will they wind up owing more on their loans than their homes are worth?

Marketing

Marco Santarelli

DECEMBER 18, 2024

It seems there are more houses for sale in these areas because of new construction, more affordable rental options, and some homeowners who are looking to sell due to rising taxes and insurance costs. With a projected interest rate of 6.5% , how much would your monthly payments be? Tampa is experiencing similar drops.

Banks

Marco Santarelli

APRIL 20, 2024

Shifting Market Dynamics: Higher interest rates may incentivize some homeowners who locked in ultra-low rates to stay put. New Construction: While not a major short-term solution, an increase in new home construction activity could eventually contribute to a more balanced inventory level.

Marketing

Marco Santarelli

MAY 25, 2024

Housing Market 2024: Morgan Stanley Predicts Midyear Outlook Are Mortgage Rates Going Down? The good news for potential homebuyers is that mortgage rates are expected to decrease over the next year. Treasury yields are essentially the interest rates that the U.S. government pays on loans.

Marketing

Marco Santarelli

SEPTEMBER 23, 2024

As we look ahead to October 2024 , the forecast for mortgage interest rates indicates a potential decline. By the end of October, many experts predict that mortgage rates might hover around 5.95% to 6.25% for the 30-year fixed-rate mortgage (FRM).

Mortgages

Marco Santarelli

DECEMBER 13, 2024

Current Mortgage Rate Trends As of the latest data, the 30-year fixed-rate mortgage has shown a gradual decline: Current Average : 30-Year Fixed Rate Mortgage at 6.6% Impact on Mortgage Rates : Traditionally, when the Fed lowers the federal funds rate, mortgage rates tend to follow suit.

Mortgages

Realty Biz

DECEMBER 18, 2021

Specific to real estate, inflation is going to drive both higher mortgage rates and higher property values. Even if the pace of construction picks up, new construction (supply) will be more expensive due to inflation. And it probably will be once the higher interest rates kick in.

Fixed-rate mortgage

Marco Santarelli

AUGUST 5, 2020

The 30-year fixed-rate averaged 3.57% in the first quarter of 2020, down from 4.62% one year ago. The average monthly mortgage payment on a 30-year fixed-rate mortgage with a 20% down payment was $995, down from $1,048 a year ago. The current 30-year fixed-rate is averaged 3.15%.

Marketing

Marco Santarelli

SEPTEMBER 5, 2020

The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88%. The 15-year fixed-rate mortgage dropped to 2.44%.

Marketing

Marco Santarelli

AUGUST 3, 2024

Not Saving Enough for a Down Payment: Many assume a 20% down payment is mandatory, but with options like FHA loans, you might be able to secure a mortgage with a smaller down payment. However, remember that a larger down payment often means lower interest rates and monthly payments.

Closing costs

Marco Santarelli

AUGUST 27, 2020

Many variables could potentially impact the value of a home in Las Vegas in 2020 (or any other market) such as big changes in the distressed, new-construction, or luxury home segments. Unlike some areas, the Las Vegas housing market isn’t going to see a sharp decline in rents due to new construction.

Marketing

Marco Santarelli

SEPTEMBER 12, 2024

Current Mortgage Rates and Trends According to the Freddie Mac Primary Mortgage Market Survey , as of September 12, 2024, the average rate for a 30-year fixed mortgage stands at 6.20% , a decrease of 0.15% from the previous week and 0.98% lower than a year ago, when rates were significantly higher.

Mortgages

Marco Santarelli

JULY 25, 2024

Rising Monthly Payments One of the most immediate effects of rising mortgage rates is the increase in monthly payments, directly influencing homebuyer affordability. For example, let's consider a typical scenario: Home Price : $365,000 Down Payment : 20% ($73,000) Mortgage Rate : 6.8%

Mortgages

Marco Santarelli

JULY 30, 2020

Last week, the average rate on 30-year fixed-rate mortgages dipped below 3% for the first time on record and this week stood at 3.01%, down from 3.75% a year ago, according to Freddie Mac. Moreover, it's even harder to take out a mortgage for those who have student loan debt.

Marketing

Housing Wire

OCTOBER 21, 2020

Fratantoni brought up this point, saying that short-term rates will stay at 0% at least until 2022 and said that we will see a very cautious Fed when it comes to raising rates from here. However, he forecasted that rates will steadily rise over the next year. Housing inventory and prices.

Mortgages

Marco Santarelli

SEPTEMBER 7, 2020

The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88%. The 15-year fixed-rate mortgage dropped to 2.44%.

Marketing

Marco Santarelli

SEPTEMBER 8, 2020

The biggest mistake buyers make is sitting around waiting for sale prices to decline while their potential mortgage payment plummets. The average interest rate on a 30-year fixed-rate mortgage fell to a record low of 2.88% in the first week of August. The 15-year fixed-rate mortgage dropped to 2.44%.

Marketing

Housing Wire

JUNE 5, 2024

Is there new construction in your market? Know mortgages You don’t have to know what your favorite loan originator does, but you do need to know enough to advise your clients about different types of loans and which lenders may be the best match for them. What are the adjustable rate mortgage rates?

Pre-approval

Marco Santarelli

FEBRUARY 14, 2025

As of February 14, 2025, mortgage rates have slightly increased. The average rate for a 30-year fixed-rate mortgage is now 6.92%, a small uptick of 0.01% from the previous week. This slight increase in rates is just one aspect of a complex and evolving housing market.

Fixed-rate mortgage

Marco Santarelli

DECEMBER 15, 2024

The Inventory Shortage While lower mortgage rates could make housing more affordable, inventory remains a significant roadblock. Many homeowners locked in fixed-rate mortgages before 2022 with historically low rates of 34%. A lower interest rate environment could significantly benefit this group.

Mortgages