Housing Wire

OCTOBER 20, 2023

To conduct this analysis, Redfin compared median monthly mortgage payments for homebuyers in August 2023 and August 2022. On Thursday, 30-year fixed-rate mortgage rates crossed the 8% threshold , according to Mortgage News Daily. In March 2022, the 30-year fixed-rate mortgage averaged 3.56%.

Fixed-rate mortgage 511

Fixed-rate mortgage Marketing Mortgages Sales 511

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.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Construction Loans 493

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%

Fixed-rate mortgage 532

Fixed-rate mortgage Mortgages New Construction Construction 532

Housing Wire

JANUARY 5, 2024

Lower interest rates make mortgages more accessible, paving the way for more buyers into the market and potentially resulting in increased demand and higher prices. Rising interest rates, however, mean higher mortgage payments, and can dampen buyer enthusiasm or affordability , slow down sales or lead to dropping home prices.

Fixed-rate mortgage 468

Fixed-rate mortgage Agents Marketing Lending 468

Housing Wire

JANUARY 21, 2022

Sam Khater, chief economist at Freddie Mac, said in a statement that the “combination of a large number of entry-level homebuyers facing a shortage of entry-level inventory of homes for sale should keep the housing market competitive.”. The report also added that home sales are projected to hit 6.9 in 2021 to 6.2% million in 2023.

Fixed-rate mortgage 482

Fixed-rate mortgage Mortgages Lending Sales 482

Housing Wire

SEPTEMBER 20, 2023

At HousingWire’s Mortgage Rates Center , Optimal Blue had 30-year fixed-rate mortgage at 7.19% on Sunday. At Mortgage News Daily , 30-year fixed-rate mortgage rates were at 7.30% on Tuesday. The Federal Housing Administration loans’ share remained unchanged at 14.2%.

Fixed-rate mortgage 473

Fixed-rate mortgage Mortgages FHA loan Loans 473

Housing Wire

MAY 15, 2024

The National Association of Realtors , via its Seasonally Adjusted Annual Rate of Existing Home Sales series, reported that the peak home sales volume of 6.6 million in January 2021 (when mortgage rates were 2.7%) fell to 3.9 million by October of 2023 (when rates crossed over 8%).

Mortgages 456

Mortgages Fixed-rate mortgage Sales Title 456

Housing Wire

SEPTEMBER 27, 2023

Based on the FOMC’s most recent projections, rates are expected to be higher for longer, which has driven Treasury yields to new heights. It is still facing limited for-sale inventory and struggling with affordability issues. The 30-year fixed mortgage rate increased to 7.41% last week, according to Kan.

Mortgages 462

Mortgages Fixed-rate mortgage Loans Marketing 462

Housing Wire

OCTOBER 5, 2023

Fannie Mae’s maximum LTV ratio for a single-unit home with a fixed-rate mortgage remains unchanged at 97%. Earlier this week, Fannie Mae released its October 2023 update to the Selling Guide aiming to reflect changes in the mortgage industry, its surrounding regulatory environment and Fannie Mae policy positions.

Loans 476

Loans Fixed-rate mortgage Principal Renovation 476

Housing Wire

FEBRUARY 10, 2021

She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. Nunnink joined Freddie Mac in 2012 in production and sales where she led the development of several of Freddie Mac Multifamily’s more innovative offerings.

Equity 529

Equity Fixed-rate mortgage Investor Development 529

Housing Wire

JUNE 10, 2024

FHFA in its March 2024 research paper , The Lock-In Effect of Rising Mortgage Rates , quantified the degree to which rising mortgage rates slowed housing purchases in 2023. Researchers developed a framework for estimating the number of home sales in 2024 based on the current levels for mortgage rates.

Mortgages 458

Mortgages Fixed-rate mortgage Sales Finance 458

Housing Wire

JANUARY 19, 2024

The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024.

Mortgages 541

Mortgages Fixed-rate mortgage Sales Equity 541

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders.

Mortgages 482

Mortgages Fixed-rate mortgage Loans Loan Officer 482

Housing Wire

MARCH 27, 2023

The group expects the recent banking turbulence to impact single-family mortgage lending in the jumbo market, leading to fewer sales in related regions and market segments. Regardless of how the banking turbulence plays out, Fannie Mae continues to expect home sales activity to remain subdued for the remainder of 2023.

Banks 395

Banks Lending Fixed-rate mortgage Construction 395

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 366

Fixed-rate mortgage Mortgages Loans New Construction 366

Housing Wire

OCTOBER 26, 2023

Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey. The average 30-year, fixed-rate mortgage rose to 7.79% as of Oct. in 2023, reaching an annualized rate of 4.15 million units sold.

Mortgages 475

Mortgages Fixed-rate mortgage Loans Investor 475

Housing Wire

OCTOBER 8, 2021

Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners. Even with an average 30-year fixed rate mortgage of 2.84% in August , the 14.9% Home sales in August decreased 1.5% Among 75 U.S.

Renovation 543

Renovation Marketing Fixed-rate mortgage Mortgages 543

Housing Wire

JANUARY 19, 2024

Existing home sales dropped to their lowest level in nearly 30 years in 2023, according to a report from the National Association of Realtors (NAR), released Friday. Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November.

Fixed-rate mortgage 468

Fixed-rate mortgage Sales MLS Mortgages 468

Housing Wire

SEPTEMBER 29, 2023

Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Loan Officer 435

Loan Officer Mortgages Fixed-rate mortgage Loans 435

Marco Santarelli

DECEMBER 21, 2024

” Home Sales Jump as Buyers Adjust to High Mortgage Rates Key Takeaways Home buyers are getting used to higher mortgage rates , with sales increasing despite rates in the mid-to-upper 6% range. The Fed's rate cuts aren't directly impacting mortgage rates. Let's make it work.”

Sales 104

Sales Mortgages Fixed-rate mortgage As-is 104

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 370

Fixed-rate mortgage Mortgages New Construction Loans 370

Housing Wire

SEPTEMBER 7, 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 7.12% as of Sept. By contrast, the 30-year fixed-rate mortgage was at 5.89% a year ago at this time. 7, down from last week ’s 7.18%.

Mortgages 475

Mortgages Fixed-rate mortgage Marketing MLS 475

Housing Wire

AUGUST 14, 2024

Refinances, which sank to historically low levels following Fed rate hikes in 2022 and 2023, grew 35% on a weekly basis and were up 118% from one year ago though they are still down 80% from the peak in 2020. Purchase mortgage applications were up 3% from the prior week but still 8% lower on a yearly basis.

Mortgages 497

Mortgages Fixed-rate mortgage Loans Sales 497

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. Mortgage rates rose in March: the average interest rate on a 30-year fixed-rate mortgage increased to 6.54% from a February level of 6.26%.”

VA loan 369

VA loan FHA loan Fixed-rate mortgage Principal 369

Housing Wire

SEPTEMBER 16, 2022

UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

Housing Wire

SEPTEMBER 22, 2022

The number of existing home sales reflects how the housing sector has been impacted by the Fed’s interest rate policies. Existing home sales declined for seven consecutive months in August, declining 0.4% to a seasonally adjusted annual rate of 4.8 Existing home sales are down 19.9% year-over-year.

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

MAY 30, 2023

New construction could be the beacon of light the housing market desperately needs right now, as home builders are gaining confidence amongst rising sales, hopefully soon to translate to more residential construction breaking ground in the coming months.” Relatedly, the Federal Housing Finance Agency (FHFA) recorded a 4.3%

Mortgages 435

Mortgages Fixed-rate mortgage Construction New Construction 435

Housing Wire

DECEMBER 8, 2020

LIBOR is commonly used in setting the interest rate for many adjustable-rate consumer financial products and its end will affect adjustable and variable rate loans, reverse mortgages, credit cards, home equity loans, and adjustable-rate mortgages. How are lenders proceeding, then?

Fixed-rate mortgage 434

Fixed-rate mortgage Loans Mortgages Equity 434

Housing Wire

APRIL 7, 2022

Presented by: Finance of America. The latest MBA survey this week found that the landscape is reducing borrowers’ demand for mortgages. Interest in residential mortgage loans fell 6.25% for the week ending April 1. Additionally, home price appreciation and insufficient for-sale inventory are holding back purchase activity.

Mortgages 397

Mortgages Fixed-rate mortgage Loans Residential 397

Housing Wire

FEBRUARY 1, 2022

Consumer desire for homeownership paired with a low supply of for-sale homes were the main contributors to a red-hot housing market in 2021. Mortgage rates have already started to climb upwards, with Freddie Mac ‘s PPMS Mortgage Survey clocking the average 30-year fixed rate mortgage at 3.55% during the week ending Jan.

Fixed-rate mortgage 435

Fixed-rate mortgage Mortgages Sales Marketing 435

Housing Wire

AUGUST 17, 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 7.09% as of August 17, up from last week’s 6.96%. By contrast, the 30-year fixed-rate mortgage was at 5.13% a year ago at this time.

Mortgages 369

Mortgages Fixed-rate mortgage Loans Loan Officer 369

Housing Wire

DECEMBER 23, 2022

Consumers — and real estate professionals — who have been watching the pandemic-fueled housing market could be feeling distraught by the news about higher mortgage rates, slower sales activity and dampening price pressure. The run-up in home prices was driven by rock-bottom mortgage rates and pandemic-fueled demand.

Marketing 433

Marketing Fixed-rate mortgage MLS Mortgages 433

Housing Wire

JUNE 29, 2022

Census Bureau report released late last week spurred a bout of optimism when it revealed that new-home sales jumped by nearly 11% month-over-month in May on a seasonally adjusted basis, after declining by 12% in April. On June 21], the National Association of Realtors said that existing-home sales declined for the fourth consecutive month.

Marketing 448

Marketing Fixed-rate mortgage Mortgages Sales 448

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Home prices are on the rise again, mortgage rates are over 7% and the lack of existing homes for sale continues to put pressure on first-time homebuyers.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

AUGUST 7, 2023

Without a strong secondary mortgage market supported by the federal government, lenders would be able to fund far fewer loans, and would likely flock to the most affluent areas in the country, leaving less-affluent markets with fewer options to finance a home. Fixed-rate mortgages provide stability and predictability.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

AUGUST 11, 2022

Its earnings report shows that it added a new $340 million warehouse financing facility during the second quarter and since the end of the quarter it increased the capacity of an existing warehouse line by $260 million — to a total of $600 million. billion of unused warehouse capacity to support go-forward mortgage banking production.”.

Mortgages 397

Mortgages Residential Loans Lending 397

Housing Wire

FEBRUARY 10, 2021

She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. Nunnink joined Freddie Mac in 2012 in production and sales where she led the development of several of Freddie Mac Multifamily’s more innovative offerings.

Fixed-rate mortgage 370

Fixed-rate mortgage Equity Investor Development 370