Housing Wire

AUGUST 27, 2024

Mortgage market conditions presented over the past two years have muted the effectiveness of the monetary policy tightening by saving $600 billion for homeowners, accounting for about 2% of personal consumption spending since 2022, according to a report by two Swiss Re Institute senior economists. “A

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Housing Wire

AUGUST 4, 2021

Mike Fratantoni, MBA’s senior vice president and chief economist, said this past week’s drop in mortgage applications can be attributed to the market’s assessment of the latest COVID-19 delta variant. ” The refinance share of activity of total mortgage applications increased slightly to 67.6% from 67.5%

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Housing Wire

AUGUST 5, 2021

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%.

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Housing Wire

JANUARY 6, 2021

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. In the final week of the year, the 15-year fixed-rate mortgage averaged 2.19%, a full point lower than the same period in 2019.

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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

AUGUST 5, 2020

As refinances fell, the refinance share of mortgage activity also declined to 63.9% Here is a more detailed breakdown of this week’s mortgage application data: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) fell to 3.14% from 3.2%.

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Housing Wire

AUGUST 18, 2021

“The increase in mortgage rates caused a 5% decrease in refinancing, driven by a 7% drop in conventional refinance applications. Even though rates are 7 basis points lower than the same week a year ago, the refinance index is around 8% lower,” said Kan. The refinance share of mortgage activity decreased to 67.3%

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Housing Wire

NOVEMBER 10, 2021

Mortgage rates fell below 3% in the week ending November 10, according to the latest Freddie Mac PMMS mortgage report. The 30-year fixed-rate mortgage declined to 2.98% last week, falling 11 basis points from 3.09% the week prior. A year ago at this time, the average 30-year fixed-rate loan averaged 2.84%.

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Housing Wire

JANUARY 27, 2022

The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. A year ago at this time, it averaged 2.20%.

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Housing Wire

JUNE 30, 2021

“As the economy progresses and inflation remains elevated, we expect that rates will continue to gradually rise in the second half of the year,” added Sam Khater, Freddie Mac’s chief economist. For those homeowners who have not yet refinanced – and there remain many borrowers who could benefit from doing so – now is the time.”.

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Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

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Housing Wire

SEPTEMBER 27, 2023

Refinance activity accounted for approximately one-third of applications (31.9%), as many homeowners have little incentive to refinance. Mortgage rates moved to their highest levels in over 20 years as Treasury yields increased late last week. The adjustable-rate mortgage (ARM) share of activity increased to 7.5%

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Housing Wire

AUGUST 12, 2021

The average 30-year fixed-rate mortgage rose to 2.87% for the week ending in August 12, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The increase follows six consecutive weeks of mortgage rate declines. It marked the highest month-to-month job growth in nearly a year.

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Housing Wire

AUGUST 19, 2021

The average 30-year fixed-rate mortgage declined slightly to 2.86% for the week ending in August 19, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates rose to 2.87% , after six consecutive weeks of mortgage rate declines.

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Housing Wire

AUGUST 11, 2021

With low rates and heightened concerns surrounding the Delta variant, many homeowners are electing to refinance. For the first time since February, refinance activity reached half of all mortgage originations, according to the latest report from Black Knight. The post Mortgage applications up 2.8%

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Housing Wire

MARCH 24, 2023

That figure increases the total number of GSE-assisted homeowners to 6,712,833 since the start of the conservatorship in September 2008, which placed control of Fannie and Freddie with the FHFA. Mortgage rates fell in December: the average interest rate on a 30-year fixed rate mortgage decreased to 6.36% from a November level of 6.81%.”

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Housing Wire

JANUARY 5, 2024

Remember that mortgage lenders base their rates for fixed- and adjustable-rate mortgages on the Fed’s interest rate, and a rise or fall in interest rates will affect your clients differently. Declining interest rates present other opportunities for homeowners.

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Housing Wire

MARCH 25, 2024

According to a Freddie Ma c housing and mortgage market report released Monday, while mortgage payments remain the primary pressure point for homeowners, insurance costs are emerging as a growing burden. Homeowners insurance costs, though still much smaller than mortgage principal and interest payments, are on the rise.

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Housing Wire

MAY 13, 2021

The average 30-year fixed rate mortgage managed another dip last week, falling two basis points to 2.94%, according to Freddie Mac ‘s PMMS. Since the most recent peak in April, mortgage rates have declined nearly a quarter of a percent and have remained under 3% for the past month. after weeks of declines.

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Housing Wire

DECEMBER 2, 2020

Kan added that a sustained period of low mortgage rates continues to “spark borrower demand,” leading to the mortgage industry being poised for its strongest year in originations since 2003. The refinance share of mortgage activity decreased to 69.5% of total applications from 71.1% the previous week.

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Housing Wire

SEPTEMBER 13, 2023

Given how high rates are right now, there continues to be minimal refinance activity and a reduced incentive for homeowners to sell and buy a new home at a higher rate,” said Joel Kan, MBA’s vice president and deputy chief economist. The refinance share of mortgage activity decreased to 29.1% from 13.7% the week prior.

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Housing Wire

JANUARY 24, 2024

There is still little incentive for homeowners to refinance with rates at these levels.” The MBA survey shows the average mortgage rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 6.78% last week, up from 6.75% the prior week.

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Housing Wire

DECEMBER 14, 2023

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue ’s average 30-year fixed rate on conventional loans at 6.9% In today’s market, about two-thirds of outstanding mortgages still feature rates below 4%, and over 90% feature rates lower than 6%. on Thursday.

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Housing Wire

DECEMBER 21, 2023

Lower rates will have a positive impact on affordability, Lisa Sturtevant, chief economist at Bright MLS, said in a statement. Bright MLS forecasts the average on a fixed-rate mortgage rate to fall to 6.5% by mid-year and to decline further to 6.2% by the end of next year.

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Housing Wire

FEBRUARY 7, 2024

Mortgage applications increased by 3.7% Despite swings in Treasury yields, mortgage rates have remained stable since the beginning of the year. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, according to Freddie Mac ’s Primary Mortgage Market Survey. during the week ending Feb.

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Housing Wire

JUNE 24, 2021

The average 30-year fixed-rate mortgage rose nine basis points from the week prior to 3.02%, according to data released Thursday by Freddie Mac ‘s PMMS. This is the first time in 10 weeks mortgage rates have risen above 3%. “As Even with rising rates, mortgage applications gained 2.1%

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Housing Wire

MARCH 1, 2023

Data on inflation , employment and economic activity signaled that inflation may not be cooling as quickly as anticipated, putting upward pressure on rates, Kan explained. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances that are greater than $726,200 remained at 6.44% during the same period.

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Housing Wire

SEPTEMBER 23, 2021

HousingWire spoke to Sage Nichols about some of the current trends and technology in mortgage underwriting and how CoreLogic’s Complete Collateral is helping underwriters work more efficiently. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.90%. Presented by: CoreLogic.

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Housing Wire

JULY 15, 2021

The low mortgage rates that propelled the housing market throughout the COVID-19 pandemic will rise later in the year, but they’ll do so gradually, Freddie Mac said Thursday in its quarterly outlook. That will give more homeowners a final opportunity to refinance their mortgages. in 2021 and up to 3.7% in 2022.

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Housing Wire

JUNE 10, 2024

They concluded that the net effect of rapidly rising mortgage rates led to 1.3 A homeowner with a 4% mortgage is 50% less likely to sell their home when rates are at 7% than if prevailing rates were still at 4%. They compared fixed-rate mortgages to adjustable rate mortgages.

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Housing Wire

FEBRUARY 1, 2023

According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. At the same time, the 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased one basis point to 6.19%. Nik Shah, CEO of Home LLC.

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Housing Wire

MAY 15, 2024

They concluded that the net effect of rapidly rising mortgage rates led to 1.3 A homeowner with a 4% mortgage is 50% less likely to sell their home when rates are at 7% than if prevailing rates were still at 4%. They compared fixed-rate mortgages to adjustable-rate mortgages.

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Housing Wire

FEBRUARY 14, 2024

In requesting action to restore pricing discounts for soft credit pulls, the CHLA pointed out the challenges of becoming a homeowner amid the 30-year fixed-rate mortgage rate doubling in the past two years, along with persistent home price appreciation.

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Housing Wire

APRIL 14, 2022

.” The gulf between the average 30-year-fixed rate conforming mortgage and a 30-year jumbo, a product for wealthier borrowers, widened to 42 basis points, according to Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refinancings and additional data from the Mortgage Bankers Association (MBA).

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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

MAY 11, 2022

The refinance share of mortgage activity dropped to 32.4% The rapid rise in mortgages rates continues to hit the refinance market, with activity 70 percent below a year ago. Most homeowners refinanced to lower rates in the past two years,” Kan added. of total applications, from last week’s 33.9%. from 11.1%

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Housing Wire

JANUARY 19, 2024

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. But we can’t blame high mortgage rates for the deficit in transactions last year. In 2023, 4.09 compared to a year ago.

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