Open Menu
Close Menu
Dots

Mortgage Rates


Mortgage News Feed

  • Existing Home Sales Down Slightly, Price Appreciation Slows
    Seven straight months of slowing sales has reduced existing home transactions by nearly 20 percent from the same point in 2021. The National Association of Realtors® (NAR) said on Wednesday that August sales of preowned single-family houses, townhouses, condominiums, and cooperative apartments were at a seasonally adjusted annual rate of… Read more »
  • Application Volume Rises Slightly Despite Big Rate Increases
    Mortgage application activity increased for the first time in six weeks during the period ended September 16 although the prior week had been shortened by a major holiday weekend. The Mortgage Bankers Association said its Market Composite Index, a measure of mortgage loan application volume, increased 3.8 percent on a… Read more »
  • Housing Starts See Double Digit Gains
    Residential construction numbers were mixed in August. Home builders apparently worked on drawing down their backlogs of permits rather than seeking new ones while construction starts soared. The U.S. Census Bureau and Department of Housing and Urban Development report that permits were issued at a seasonally adjusted annual rate of… Read more »
  • Builders are Cutting Prices, Adding Incentives as Confidence Wanes
    The National Association of Home Builder’s (NAHB’s) index measuring the confidence of builders in the new home market has fallen for the ninth straight month. A 3-point month-over-month drop put the NAHB/Wells Fargo Housing Market Index (HMI) at 46 in September. NAHB’s chief economist Robert Dietz said, with the exception… Read more »
  • Mortgage Application Volume, Tiny Increase in Purchase Activity Ends 5-Week Slump
    Only a slight uptick in purchase mortgage applications kept all last week’s volume indicators from falling for the fifth straight time. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent on a seasonally adjusted basis during the week ended… Read more »
  • Credit Access Reflects Reduced Appetite for Risk
    Mortgage credit access tightened again in August, a trend that has been nearly continuous since the onset of the pandemic more than two years ago. The Mortgage Bankers Association said its Mortgage Credit Availability Index (MCAI) slipped 0.5 percent from its July level to 108.3. A decline in the index… Read more »
  • Mortgage App Volume Declines, But Jobs Data Offers Silver Lining
    The Mortgage Bankers Association (MBA) says the pace of mortgage applications slowed for a fourth consecutive time during the week ended September 2. MBA’s seasonally adjusted Market Composite Index, a measure of application volume, decreased 0.8 percent heading into the long Labor Day holiday weekend. On an unadjusted basis, the… Read more »
  • Rate Volatility Continues to Roil Application Volume
    The volume of mortgage applications fell again last week, dragged lower by refinancing which had its largest week-over-week decline since mid-May. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of that volume, decreased 3.7 percent on a seasonally adjusted basis from one week earlier. On an… Read more »
  • Home Price Growth Grinds to Halt. What Does It Mean For Conforming Loan Limit Outlook?
    Today brings the release of June's home price indices from both the FHFA (the regulator that oversees Fannie and Freddie, the entities that guarantee a majority of mortgages in the U.S.) and S&P Case Shiller.  These are the two most widely followed measures of home prices and FHFA's data is… Read more »
  • Last Week: "Housing Recession." This Week: "At Or Close To The Bottom"
    In last Thursday's Existing Home Sales press release, the NAR's chief economist said "we're witnessing a housing recession in terms of declining home sales and home building."  Less than a week later, today's Pending Home Sales release contains quite a different remark: "in terms of the current housing cycle, we… Read more »
Powered by Theme Mason