Featured Content Mortgage rates are on an upward trend, hitting highs not seen since July. This week marks the fourth rise in rates over the past five weeks, which has led to a flat mortgage application volume and a significant pullback in refinancing. According to the Mortgage Bankers Association, the average interest rate for 30-year […]
Read MoreFeatured Content D.R. Horton, Inc. (DHI) is one of the largest homebuilding companies in the United States, specializing in the construction and sale of single-family homes. Founded in 1978, the company is headquartered in Arlington, Texas, and operates in numerous markets across the country. D.R. Horton is committed to providing quality homes at affordable prices, […]
Read MoreFeatured Content The U.S. mortgage and housing market in September 2024 remains challenging for many, with elevated mortgage rates and a continued shortage of available homes. Although rates have slightly decreased from their peak in 2023, they still sit at around 6.5%, which discourages many potential buyers from entering the market. The Federal Reserve has […]
Read MoreRocket Companies, Inc. is a leading provider of digital financial services, best known for its flagship brand, Rocket Mortgage. The company offers a range of services including mortgage lending, personal loans, and real estate services, all delivered through a tech-driven platform. Rocket Mortgage revolutionized the mortgage industry with its fully online process, allowing customers to […]
Read MoreMarket conditions are Bullish in a Bear Market as of 2023-02-01. This means traders and investors should consider trading with a Neutral or Bullish bias by buying stocks and setting tight stops. The rank of the Bear Market is -9.72 which indicates the current market conditions are Extreme, Risk of a reversal is high. The […]
Read More(Bloomberg) — Starwood Capital-backed home lender Reverse Mortgage Funding LLC filed for Chapter 11 bankruptcy, the latest company to succumb amid a rapid run-up in mortgage rates. The company, which makes reverse mortgages, listed assets and liabilities of at least $10 billion each in its bankruptcy petition. Chapter 11 bankruptcy allows companies to keep operating […]
Read More(Bloomberg) — US mortgage rates retreated sharply for a second week, hitting a two-month low and providing a bit of traction for the beleaguered housing market. The contract rate on a 30-year fixed mortgage decreased 23 basis points to 6.67% in the week ended Nov. 18, according to Mortgage Bankers Association data released Wednesday. Rates […]
Read More(Bloomberg) — The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago. There’s no systemic meltdown coming this time around, because there hasn’t been the […]
Read More(Bloomberg) — Home ownership has reached a milestone in the US. Nearly half of mortgaged properties were considered equity-rich in the second quarter — meaning owners had at least 50% in home equity. This marked the ninth straight quarterly rise, fueled by soaring house valuations in the pandemic era and an increase in down payments […]
Read More(Bloomberg) — US mortgage rates posted the biggest drop in more than two years, offering homebuyers a slight reprieve from this year’s massive surge in borrowing costs. The average for a 30-year loan declined to 5.10% from 5.25% last week, Freddie Mac said in a statement Thursday. That was the biggest decline since April 2020, […]
Read More(Bloomberg) — Potential home buyers are getting discouraged by rising mortgage rates and home prices, according to a survey released on Monday by the New York Federal Reserve. U.S. consumers expect mortgage rates to increase substantially over the next several years, with households on average projecting rates of 6.7% a year from now and 8.2% […]
Read MoreFor many foreign-born individuals living in the United States, owning a home is one of the cornerstones of the American dream. But there’s a perception among some non-U.S. citizens that there’s no way they can obtain a mortgage, thus creating a huge barrier to that goal. However, according to the National Association of Realtors (NAR), […]
Read MoreGetty Images Some mortgage rates have fallen slightly: The average interest rate on a fixed rate 30-year mortgage now sits at 4.20% and the average annual percentage rate is 4.25%, down from 4.29% and 4.23%, respectively. The average interest rate for a 15-year fixed rate mortgage remains unchanged from a day prior at 3.48% (the […]
Read MoreA Bloomberg story by Carmen Arroyo today underscores the cost-cutting focus I’m increasingly hearing from mortgage lenders this month. Mortgage layoffs and cost cuts are normal as rates rise, but lenders will still fund $2.6 trillion in 2022. Here are some bullet points on which lenders will thrive vs. struggle as this plays out. – […]
Read MoreThe 30-year mortgage rate has risen rapidly to its highest level since 2019, around 4%. The increase could compel home shoppers to look for houses in lower price ranges. Some might need to get preapproved again. Mortgage rates have risen almost a full percentage point since late December. A few days before Christmas, the 30-year […]
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