Purchase application data Last year, when mortgage rates fell from 7.37% to 5.99%, we got three good months of positive purchase application data until the first week of February before mortgage rates... Read more »
CBC Mortgage Agency — a federally chartered housing finance agency — is reducing interest rates on repayable second mortgages used for its down payment assistance (DPA) program. This marks the first time... Read more »
The mortgage market is witnessing a significant shift as rates continue their descent for the third straight week, according to data released by Freddie Mac. The average rate on the benchmark 30-year... Read more »
Mortgage rates fell this week as the October inflation report drove down the yield on the 10-year Treasury. On Thursday, investors priced in a 99.7% chance that the Fed will hold interest... Read more »
Although high mortgage rates, elevated home prices and limited housing inventory have crippled the 2023 housing market, the outlook for 2024 is brighter, according to Lawrence Yun, chief economist with the National... Read more »
Homebuyers are forking over larger down payments to offset higher borrowing costs thanks to mortgage rates hitting multi-decade highs. On average, homebuyers put down 14.7% of the home’s purchase price for a... Read more »
Will interest rates drop in 2024? The answer to this pivotal question holds significant implications for investors, homeowners, businesses, and the overall financial landscape. Before we can peer into the future, it’s essential... Read more »
Mortgage demand experienced a notable surge, reaching the highest level in five weeks, following a decline in interest rates. The Mortgage Bankers Association’s seasonally adjusted index reported a 2.8% increase in demand,... Read more »
The biggest question in the minds of loan originators is whether mortgage rates will fall through the end of 2023, providing some reprieve from the high-rate environment that has stifled origination volume... Read more »
In September, all-cash purchases represented one-third of the U.S. home purchases, compared to 29.5% a year ago, according to a Redfin report. It’s the highest share of all-cash transactions recorded since 2014.... Read more »