Housing Wire

MAY 10, 2024

In March , we explored the difference between Home Equity Conversion Mortgage (HECM) “expected rates” and “note rates” and why most reverse mortgages depend on these two interest rates. In April , we specifically focused on expected rates. But could there be a silver lining to higher rates?

Mortgages 383

Mortgages Principal Loans Equity 383

Housing Wire

APRIL 26, 2024

In February 2024, the national delinquency rate for residential mortgages stood at 2.8%, marking an 0.2 The rate remained unchanged from January 2024, according to the latest CoreLogic Loan Performance Insights report. Early-stage delinquencies (mortgages 30 to 59 days past due), accounted for 1.5% percentage points.

Mortgages 481

Mortgages Staging Principal Loans 481

Housing Wire

APRIL 18, 2024

The recent hotter-than-expected inflation reading sent mortgage rates upward. On Thursday, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.31%, up from 7.19% a week earlier. There’s no guarantee that rates will come down soon.” million units, up 4.7%

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Mortgages Loans Agents Marketing 413

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 469

Mortgages Fixed-rate mortgage New Construction Construction 469

Housing Wire

MARCH 2, 2024

The mortgage rate lockdown premise says that if rates rise, inventory can’t grow meaningfully. The idea is that nobody will trade their low mortgage rates to buy another home — even though this happened every week last year. With mortgage rates higher, will this stop inventory from growing year over year?

Mortgages 533

Mortgages Sales As-is Closing 533

Housing Wire

DECEMBER 20, 2023

Mortgage demand fell for the first time since November as mortgage rates reached their lowest level since June 2023. 15 compared to the previous week, according to data from the Mortgage Bankers Association (MBA). Total home loan applications decreased by 1.5% for the week ending Dec.

Mortgages 452

Mortgages VA loan FHA loan Loans 452

Housing Wire

MAY 15, 2024

Mortgage rates have been slowly dropping recently, which has caught some people off guard. The Fed’s recent hawkish stance, refraining from rate cuts and advocating for extended higher rate language, adds to the mystery. We have made good progress on the growth rate of inflation since the peak of the data.

Mortgages 306

Mortgages Equity Marketing 306

Housing Wire

MARCH 5, 2024

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. one week earlier. one week earlier.

Mortgages 454

Mortgages Loans Investor As-is 454

Housing Wire

MARCH 6, 2024

Housing professionals already know that high mortgage rates are bad for business. And they hope that rates will soon fall. But with mortgage rates ascending past 7% according to HousingWire’s Mortgage Rates Center , those hopes have so far been dashed in 2024.

Mortgages 437

Mortgages Days on market As-is Sales 437

Housing Wire

DECEMBER 7, 2023

Mortgage rates continued their downward trajectory this week as the 10-year Treasury yield dropped below 4.2% The 30-year, fixed mortgage rate averaged 7.03% for the week ending Dec. 7, according to Freddie Mac ‘s Primary Mortgage Market Survey. by the end of 2024.

Mortgages 525

Mortgages Fixed-rate mortgage Investor Loans 525

Housing Wire

FEBRUARY 17, 2024

Will mortgage rates break toward 8% again, making another 2024 data line that looks like a carbon copy of 2023? It’s not part of my 2024 forecast, but since the Federal Reserve likes playing with fire , let’s look at where we are with mortgage rates and their impact on weekly housing data.

Mortgages 534

Mortgages Sales As-is Marketing 534

Housing Wire

FEBRUARY 22, 2024

Mortgage rates continued their ascension toward 7% this week, raising doubts about the approaching spring homebuying season. The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, an increase from last week ’s figure of 6.77%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 437

Mortgages Fixed-rate mortgage Loans Marketing 437

Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. by mid-year and to decline further to 6.2%

Mortgages 497

Mortgages Fixed-rate mortgage MLS New Construction 497

Housing Wire

SEPTEMBER 30, 2023

Why are mortgage rates rising? The jobless claims data is my key 2023 economic data line for the bond market and mortgage rates because I don’t believe the Fed will pivot until the four-week moving average of jobless claims gets above 323,000. Mortgage rates went from 7.39% to a high of 7.65% and ended the week at 7.44%.

Mortgages 512

Mortgages Land Staging Marketing 512

Housing Wire

FEBRUARY 21, 2024

Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% 16, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.77% as of Feb.

Mortgages 437

Mortgages Fixed-rate mortgage Loans Residential 437

Housing Wire

FEBRUARY 6, 2024

Introducing the NEW HousingWire Mortgage Rates Center, a resource for housing professionals to access real-time mortgage rates data and the insights that fuel understanding and decision-making. 6: “Mortgage pricing should be a bit better today.

Mortgages 417

Mortgages Industrial As-is Marketing 417

Housing Wire

FEBRUARY 4, 2024

How will mortgage rates impact seasonal inventory in 2024? Also, when mortgage rates rise, the inventory peak happens later in the year. However, when mortgage rates rise and demand gets hit, the price cut percentage data grows year over year. Is the seasonal bottom going to happen later than I want?

Mortgages 515

Mortgages Staging As-is Marketing 515

Housing Wire

NOVEMBER 2, 2023

Mortgage rates stabilized this week as the Federal Reserve decided to keep its rates unchanged Wednesday. 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.

Fixed-rate mortgage 469

Fixed-rate mortgage Mortgages MLS Investor 469

Housing Wire

FEBRUARY 15, 2024

Mortgage rates climbed 13 basis points this week on the back of Tuesday’s strong inflation reading. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. 15, an increase from last week ’s figure of 6.64%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 437

Mortgages Fixed-rate mortgage MLS Loans 437

Housing Wire

JANUARY 20, 2024

Housing inventory, new listing data and mortgage rates are all rising, but the price cut data percentages are falling. I will watch for rising mortgage rates to see if they change the weekly data. I will watch for rising mortgage rates to see if they change the weekly data.

Mortgages 541

Mortgages Sales As-is Marketing 541

Housing Wire

APRIL 12, 2024

That’s because many of these potential hires are locked into super-low 30-year mortgages. homeowners carry mortgages with interest rates below 3%, while nearly 35% have rates ranging between 3% and 4%. homeowners carry mortgages with interest rates below 3%, while nearly 35% have rates ranging between 3% and 4%.

Mortgages 446

Mortgages Finance 446

Housing Wire

APRIL 15, 2024

Last week’s above-consensus inflation figures brought the mortgage market back to a sour reality: The average 30-year fixed mortgage rate, an index closely watched by industry experts, may be close to or even above the 7% level for longer than previously expected. At the end of 2023, they anticipated six rate cuts for the year.

As-is 454

As-is Industrial Mortgages Loans 454

Housing Wire

FEBRUARY 28, 2024

Higher interest rates in recent weeks have made a dent in housing activity, bringing down mortgage demand. Mortgage applications decreased by 5.6% 23, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. However, mortgage rates above 7% sure don’t help.”

Mortgages 435

Mortgages Fixed-rate mortgage Loans Residential 435

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market. Why are there two HECM interest rates used with HECM loans?

Principal 427

Principal Mortgages Loans Equity 427

Housing Wire

FEBRUARY 1, 2024

Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday. Is the housing market normalizing?

Mortgages 462

Mortgages Fixed-rate mortgage MLS Staging 462

Housing Wire

NOVEMBER 4, 2023

After mortgage rates spiked to 8% in October, causing a riot in the real estate industry, we had an epic move lower in mortgage rates last week. Does this mean we’ve hit the peak in mortgage rates for this economic cycle? Last year, the seasonal peak for housing inventory was Oct.

Mortgages 497

Mortgages Staging As-is Marketing 497

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgages 481

Mortgages Fixed-rate mortgage Loan Officer MLS 481

Housing Wire

OCTOBER 3, 2023

Mortgage rates and bond yields kept rising Tuesday as the job openings unexpectedly increased more than anticipated. And will job openings continue higher, pushing mortgage rates even higher in the future? As I write this article today, the 10-year yield is 4.79%, with mortgage rates at 7.72%.

Mortgages 487

Mortgages Banks As-is Marketing 487

Housing Wire

FEBRUARY 5, 2024

The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. It’s the first time since December that the average 30-year fixed rate has eclipsed 7%. EST, up from 4.03% on Friday.

Mortgages 469

Mortgages Investor Banks As-is 469

Housing Wire

MARCH 8, 2024

Everyone was waiting to see if this week’s jobs report would send mortgage rates higher, which is what happened last month. The Federal Reserve ’s fear of wage growth spiraling out of control hasn’t materialized for over two years now and the unemployment rate ticked up to 3.9%. Today, we are at 157,808,000. percent, the U.S.

Marketing 497

Marketing Mortgages As-is Finance 497

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.

Fixed-rate mortgage 446

Fixed-rate mortgage Mortgages MLS Loans 446

Housing Wire

FEBRUARY 12, 2024

When are interest rates going to come down? Where should mortgage rates be before I buy or refinance my home? These are just a few of the questions independent mortgage brokers get asked on a daily basis. The reality is, borrowers are rate sensitive because it’s what they’re exposed to. Do they have kids?

Mortgages 454

Mortgages Loans Closing costs Industrial 454

Housing Wire

NOVEMBER 30, 2023

Mortgage rates headed lower this week as the 10-year Treasury yield dropped below 4.3% The 30-year, fixed mortgage rate averaged 7.22% for the week ending Nov. 30, according to Freddie Mac ‘s Primary Mortgage Market Survey. Bright MLS ’ 2024 forecast indicates that mortgage rates will fall to 6.5%

Mortgages 509

Mortgages MLS Investor Development 509

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.

Fixed-rate mortgage 427

Fixed-rate mortgage Mortgages Closing costs MLS 427

Housing Wire

FEBRUARY 14, 2024

Mortgage demand was weaker last week as interest rates moved higher across the board. Mortgage applications decreased by 2.3% 9, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. the previous week.

Mortgages 407

Mortgages Fixed-rate mortgage Loans Residential 407

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. The “ expected rate ” is unique to reverse mortgages and is calculated by adding the lender’s margin to the weekly average 10-year constant maturity treasury (CMT).

Principal 413

Principal Mortgages Loans Equity 413

Housing Wire

OCTOBER 25, 2023

With mortgage rates still hovering around 8%, mortgage applications decreased 1% for the week ending Oct. 20 compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association.

Mortgages 446

Mortgages VA loan FHA loan Loans 446