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Fewer people are submitting mortgage applications

Housing Wire

Tight housing inventory, obstacles to a faster rate of new construction, and rapidly rising home prices continue to hold back purchase activity,” Kan said. The post Fewer people are submitting mortgage applications appeared first on HousingWire.

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Mortgage rates continue trending down before Christmas

Housing Wire

Meanwhile, HousingWire’s Mortgage Rates Center showed Optimal Blue’s average 30-year fixed rate on conventional loans at 6.68% on Thursday. Lower rates will have a positive impact on affordability, Lisa Sturtevant, chief economist at Bright MLS, said in a statement. by the end of next year. Another obstacle?

Mortgages 511
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Mortgage rates dip to 6.6% to mark the lowest level since May 2023

Housing Wire

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% 12 compared to a week earlier.

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Mortgage rates flirt with 7% mark again

Housing Wire

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 493
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Borrower demand declines amid a volatile mortgage market 

Housing Wire

Borrower demand for home loans increased in the first three weeks of 2023, sparking optimism among mortgage industry executives and loan officers. According to the MBA , mortgage applications decreased 9% across the board for the week ending January 27 compared to the week prior. Nik Shah, CEO of Home LLC.

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Lower mortgage rates, higher demand lead to optimism for late 2023

Housing Wire

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Rates for jumbo loan balances (greater than $647,200) went from 6.14% to 5.97% in the same period. . ” Uptick in applications .

Mortgages 435
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5 predictions for the 2022 housing market

Housing Wire

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans. for 30-year fixed-rate loans.

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