Category: News

Breaking, curated news headlines from across the mortgage industry.

U.S. New-Home Sales Rose to Nine-Month High in December

By | January 26, 2022

Purchases rose 11.9% to an 811,000 annualized pace from a revised 725,000 a month earlier, government data showed Wednesday. The median estimate in a Bloomberg survey of economists called for a 760,000 rate. An increase in the number of completed homes over the last two months and prospects of higher interest rates this year as the Federal Reserve… Read More »

FOMC preview: Fed not expected to raise interest rates this week

By | January 25, 2022

“It really is time for us to begin to move away from those emergency pandemic settings to a more normal level,” Fed Chairman Jerome Powell told Congress two weeks ago, adding that “2022 will be the year in which we take steps toward normalization.” Moving away from those settings would involve raising the federal funds rate, the benchmark… Read More »

US home price growth moderates for fourth straight month

By | January 25, 2022

“For the past several months, home prices have been rising at a very high, but decelerating, rate. That trend continued in November 2021,” said Craig J. Lazzara, managing director and global head of index investment strategy at S&P DJI, in a statement. “Despite this deceleration, it’s important to remember that November’s 18.8% gain was the sixth-highest reading in… Read More »

Inflation keeping house prices high, even with rising mortgage rates

By | January 22, 2022

“It’ll [inflation] keep them positive. I don’t expect to see 18% in price appreciation. That’s a function of all the stimulus that was in the economy and the urge to move away from the virus,” Doug Duncan, chief economist at Fannie Mae told Yahoo Finance. “But we do expect house prices to be positive.” Some homebuyers have been… Read More »

Existing home sales in 2021 reached highest level since 2006, despite December slowdown

By | January 20, 2022

Existing home sales fell 4.6% to a seasonally adjusted 6.18 million million units in December from a month earlier, according to the National Association of Realtors (NAR). November existing home sales were revised slightly down to 6.46 million from 6.48 million. The number of sales was down 7.1% from the same month a year ago. The results were far more… Read More »

Mortgage rates rise to an 8-month high, tanking refinance demand

By | October 27, 2021

“The increase in rates triggered the fifth straight decrease in refinance activity to the slowest weekly pace since January 2020. Higher rates continue to reduce borrowers’ incentive to refinance,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting, in a release. Mortgage applications to purchase a home increased 4% for the week but were 9%… Read More »