article thumbnail

Mortgage applications climb as rates continue to decline

Housing Wire

While the average contract interest rate for 30-year fixed-rate mortgages decreased to 6.67%, every other loan type saw rates decrease. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances also saw a decrease to 6.68% from 6.83%. for several weeks.

article thumbnail

Black Friday deals on a new home? Here you go

Housing Wire

The Ohio-based builder is offering discounts of up to $20,000 on select homes in Greater Houston , along with no-cost 2/1 rate buydowns , and slashing prices by as much as $93,850 in other markets like Chicago. In Charlotte , borrowers to lock in a lower rate on select Quick Move-In homes that can close by the end of the year.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

All those 2025 mortgage rates forecasts are now wrong

Housing Wire

Its late December so all the 2025 mortgage rate forecasts have been published. Most housing market analysts expect mortgage rates to spend the year with a 6 handle. The most optimistic predictions assume 2025 will see mostly low 6s for the 30-year fixed rate mortgage.

Mortgages 488
article thumbnail

We just had the strongest refi week in months

Housing Wire

Mortgage rates moved lower last week, consistent with lower Treasury yields following the FOMC meeting and a volatile week for [the] stock market. The 30-year fixed rate declined to its lowest level in six weeks at 6.97%, said Joel Kan, MBAs vice president and deputy chief economist. from the week prior.

article thumbnail

Mortgage applications drop after weeks of growth

Housing Wire

Mortgage applications decreased 6.2% That’s according to the latest data from the Mortgage Bankers Associations (MBA) weekly mortgage applications survey for the week ending March 14, 2025. The Market Composite Index, which measures mortgage loan application volume, decreased 6.2% the previous week.

article thumbnail

No, homeowner delinquency rates aren’t elevated

Housing Wire

Notably, the rate of multifamily delinquencies currently stands at under 1%, but it is at levels above the 2008 recession. However, there is a big difference between apartment lending and homeowners who have a 30-year fixed-rate mortgage. Some people are trying to imply that we have major stress in homeowner data.

article thumbnail

Slightly lower mortgage rates fuels strong refi activity

Housing Wire

Mortgage applications increased 2.3% The Mortgage Bankers Association ‘s market composite index increased 6% on an unadjusted basis compared with the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) saw marginal movement to 6.95% from 6.97%.