The National Association of Home Builders is reporting this week U.S. builder confidence retreated in August 2023 as rising mortgage rates and stubbornly high shelter inflation have further eroded housing affordability and put a damper […]
The rate of price rises has fallen sharply, according to official figures. The key, consumer price index (CPI) measure of inflation fell to 6.8% in the year to July, down from a rate of 7.9% […]
The headline CPI reading was in line with a consensus forecast among economists polled by Reuters, and follows the cooler-than-expected 7.9% figure of June. Core inflation — which excludes volatile energy, food, alcohol and tobacco […]
International Buyers Activity Hits Rock Bottom In 2022, the number of homes purchased by international buyers fell to its lowest level in at least 14 years, according to data from the National Association of REALTORS®. This was […]
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 7.16% from 7.09%. Mortgage demand from homebuyers was 26% lower than the same week one year ago. […]
Loan quality control is again top of mind for lenders, partially due to the wave of loan-repurchase requests from Fannie Mae and Freddie Mac earlier this year. Higher loan volumes in 2020 and 2021 led […]
Homebuilder confidence declined for the first time this year in August, reflecting the difficulties of 7% mortgage rates and reduced housing affordability. The National Association of Home Builders (NAHB)/Wells Fargo Housing Market Index (HMI) report […]
Two former employees have filed a class-action lawsuit against Rocket Mortgage for allegedly failing to pay overtime wages. That’s at least the second case that targets the Detroit-based lender for unpaid wages. Brittany Roseboro and John Glover claim […]
Non-QM lender Acra Lending is projecting mortgage originations will increase in 2023 to about $2.6 billion, up from $2.1 billion last year, says CEO Keith Lind, “and we’ve been profitable every month this year, and every quarter.” […]
With strong demand and limited options for existing homes, many homebuyers are turning to new construction. Mortgage applications for new construction home purchases increased 35.5% in July on a year-over-year basis, according to the Mortgage […]
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