Marco Santarelli

AUGUST 3, 2024

For many, the allure of a fixed-rate mortgage lies in its predictability – consistent monthly payments and the comfort of knowing your interest rate won't fluctuate. However, life throws curveballs, and sometimes circumstances may force you to reconsider your mortgage strategy.

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Housing Wire

MARCH 24, 2023

The Federal Housing Finance Agency (FHFA) released on Thursday its Fourth Quarter 2022 Foreclosure Prevention and Refinance Report, stating that government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac completed 52,469 foreclosure prevention actions in Q4 2022.

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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

AUGUST 29, 2024

. “The mortgage industry got one of its biggest boosts in years during the second quarter, supported by a combination of the usual Springtime homebuyer demand coupled with more attractive mortgage rates,” said Rob Barber, CEO at ATTOM. of all mortgages. Purchase loan activity jumped 32.7% from Q2 2023.

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Housing Wire

OCTOBER 12, 2023

To that end, the CHLA, NAR and ICBA urged that the Federal Reserve shift its policy to maintain its stock of mortgage-backed securities (MBS) and suspend runoff until liquidity and the spread between the 30-year fixed rate mortgages and 10-year Treasury stabilizes.

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Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

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Housing Wire

OCTOBER 5, 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 7.49% as of Oct. By contrast, the 30-year fixed-rate mortgage was at 6.66% a year ago at this time.

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Housing Wire

JANUARY 5, 2024

A buyer who might have qualified for a $400,000 mortgage may now qualify for a $350,000-$375,000 mortgage when interest rates rise. Buyers who still qualify for their target home loan might decide to look for smaller or more affordable properties in order to maintain their monthly housing budget.

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Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

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Housing Wire

SEPTEMBER 20, 2023

15, mortgage applications rose 5.4% from the prior week , according to data from the Mortgage Bankers Association. Last week, purchase applications increased for both conventional and FHA loans but remained 26% lower than the same week a year ago. The 30-year fixed mortgage rate increased to 7.31% last week, according to Kan.

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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

JUNE 5, 2024

Department of Veterans Affairs (VA) loan applications. The refinance share of mortgage activity decreased to 31.1% The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased from 7.05% to 7.07%, with points increasing from 0.63

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Housing Wire

SEPTEMBER 6, 2023

At HousingWire’s Mortgage Rates Center , Optimal Blue had 30-year fixed-rate mortgages at 7.15% on Tuesday. At Mortgage News Daily , 30-year fixed-rate mortgage rates were at 7.21%. The Federal Housing Administration loans’ share increased to 13.7% from 13.2% a week prior.

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Housing Wire

OCTOBER 12, 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 mortgage averaged 7.57% as of Oct. By contrast, the 30-year, fixed-rate mortgage was at 6.92% a year ago at this time.

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Housing Wire

SEPTEMBER 13, 2023

Simultaneously, purchase applications increased over the week despite the increase in rates , buoyed by a 2% gain in conventional loans. At HousingWire’s Mortgage Rates Center , Optimal Blue had 30-year fixed-rate mortgages at 7.17% on Sunday. Department of Agriculture loans’ share fell to 0.4%

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Housing Wire

DECEMBER 6, 2023

Falling mortgage rates last week brought increased demand. Total home loan applications increased 2.8% 1 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). The 30-year fixed-rate mortgage averaged 7.17% last week. for the week ending Dec. the week prior.

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Housing Wire

JUNE 30, 2022

They are particularly worried about loans already approved but not purchased by FGMC. . According to those sources, FGMC adopted an aggressive pricing strategy to purchase loans from correspondent partners, often paying 20 basis points higher than other investors on 30-year fixed-rate mortgages.

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Housing Wire

SEPTEMBER 27, 2023

At HousingWire’s Mortgage Rates Center , Optimal Blue showed the 30-year fixed-rate mortgage at 7.38% on Tuesday. At Mortgage News Daily , 30-year fixed-rate mortgage rates were at 7.50% on Tuesday. The Federal Housing Administration loans’ share decreased to 14.1%

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Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

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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

JULY 29, 2021

The average 30-year fixed-rate mortgage increased slightly to 2.80% for the week ending on July 29, halting a streak of weekly declines, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.99%.

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Housing Wire

SEPTEMBER 21, 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 7.19% as of Sept. By contrast, the 30-year fixed-rate mortgage was at 6.29% a year ago at this time.

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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.

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Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. “It’s obviously not just a flip flop, it’s a pretty big move,” said Luke Johnson, the founder and CEO of Neat Loans. .

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Housing Wire

JANUARY 31, 2024

The average loan size for purchase applications has risen in recent weeks to $444,100, the largest average loan size since May 2022, Kan added. On the strength of lower mortgage rates, homebuyers are reclaiming some purchasing power. Last week, refis comprised 34.2% of the total applications, up from 32.7%

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Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

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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

AUGUST 27, 2024

As a result, by the end of June 2024, the market rate for mortgages was near 7%, compared to an average existing mortgage rate of about 4%. In total, 95% of US home loans are 15- or 30-year fixed-rate mortgages, and more than half still pay less than 4%. “We

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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 22, 2020

Here are the top five mortgage-related terms you’ll want in your arsenal: 1. Fixed-rate mortgage. There are two types of mortgages: fixed-rate and adjustable-rate. Fixed-rate mortgages have a set interest rate for the entirety of the loan. You’re not alone.

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Housing Wire

JUNE 12, 2024

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased to 7.02% from 7.07%, with points unchanged at 0.65 (including the origination fee) for 80% loan-to-value ratio (LTV) loans. The effective rate increased from last week.

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Housing Wire

JUNE 26, 2023

This is according to the Federal Housing Finance Agency (FHFA) Q1 2023 Foreclosure Prevention and Refinance Report, which was published late last week. The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans.

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Housing Wire

AUGUST 16, 2023

Mortgage applications fell for the fourth consecutive week as the 30-year fixed-rate mortgage rose to its highest level since 2001, reaching 7.16%. For the week that ended August 11, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. from 13.6%

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Housing Wire

AUGUST 5, 2024

. “ Mortgage pricing should be lower today, but the close of today with the 10-year yield is key because short term bonds are very overbought.” Mortgage spreads tightened at the same time, taking the Fannie Mae current coupon to 5.05%. The market also sharply increased expectations for Fed rates, pricing in ~4.6

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Housing Wire

DECEMBER 7, 2023

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.96% on Thursday. The 30-year, fixed-rate mortgage fell by almost 80 basis points in six weeks, Sam Khater, Freddie Mac’s chief economist, said in a statement.

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Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans. Fixed-rate mortgages provide stability and predictability.

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Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday.

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