Tag Archives: Lending

UPDATE 1-U.S. mortgage interest rates top 5%, buyers look to lock in rates

By | April 13, 2022

April 13 (Reuters) – The average interest rate on the most popular U.S. home loan rose to more than 5% last week, the highest level since November 2018, and homebuyers hurried to make purchases before costs rise further, the latest weekly survey from the Mortgage Bankers Association (MBA) showed on Wednesday. The average contract rate on a 30-year… Read More »

Surging interest rates push mortgage demand down more than 40% from a year ago

By | April 6, 2022

“Mortgage application volume continues to decline due to rapidly rising mortgage rates, as financial markets expect significantly tighter monetary policy in the coming months,” said Joel Kan, an MBA economist. “As higher rates reduce the incentive to refinance, application volume dropped to its lowest level since the spring of 2019.” The refinance share of all applications fell to… Read More »

U.S. mortgage rates jump by the most in 11 years -MBA

By | March 30, 2022

(Reuters) – The interest rate on the most popular U.S. home loan jumped last week by the most in 11 years as bond market investors rapidly repositioned for the Federal Reserve to take more aggressive action to contain inflation, a survey showed on Wednesday. The Mortgage Bankers Association (MBA) said the contract rate on a 30-year fixed-rate mortgage… Read More »

Rising interest rates may be a good thing for home prices

By | March 29, 2022

“Low rates make housing less affordable in the long run and rates have been on a long downward trend,” wrote Jonathan Miller, CEO of Miller Samuel Inc., a real estate appraisal and consulting firm, in a recent blog post. The notion is counterintuitive but worth exploring because it’s a valid one. It’s no secret that low interest rates have fueled the… Read More »

‘Reduced competition.’ 5 predictions for the housing market in 2022, from economists and real estate pros

By | March 27, 2022

Aspiring home buyers may have watched as mortgage rates in recent months rose (though to be fair they are still near historic lows — see the lowest rates you may qualify for here), as did home prices. And it all begs the question: What will happen to the housing market in 2022? MarketWatch Picks dug into the latest predictions… Read More »

Barbara Corcoran: Homebuyers ‘should move faster’ amid soaring prices

By | March 23, 2022

“You should move faster because houses are only getting more expensive,” she said in an interview on Feb. 17, roughly a month before the Fed raised its benchmark interest rate. “It’s harder to get your hands on something that you even find acceptable to live with, never mind something you’ve been dreaming about.” “There’s nothing to be gained… Read More »

U.S. Treasury Yields Surge to the Highest Levels Since 2019

By | March 21, 2022

Treasuries slumped, sending the two-, five- and 10-year yields to the highest levels since May 2019, as policy makers in the U.S. and Europe cranked up expectations for higher borrowing costs in the face of mounting inflationary pressures. Another round of selling arrived in the early afternoon in New York after Federal Reserve Chair Jerome Powell said the… Read More »

Existing home sales fall in February

By | March 18, 2022

Homebuying activity faded in February. Existing home sales declined 7.2% to a seasonally adjusted 6.02 million units in February from a month earlier, according to the National Association of Realtors (NAR). The number of sales was down 2.4% from the same month a year ago. January home sales figures were revised slightly down to 6.49 million from 6.5 million. The… Read More »

Housing inflation is going nowhere but up: Morning Brief

By | March 15, 2022

Single-family rent extended record growth for the 10th straight month in January, up 12.6% from a year ago, according to new data to be released by CoreLogic this morning. Sun Belt cities, led by Miami with a nearly 40% annual increase, registered the largest gains. The results echo Apartment List’s most recent report for February, which revealed annual rent… Read More »