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HomeMortage News

Mortage News

Mortgage news refers to the latest developments and trends in the mortgage industry, including changes in interest rates, new mortgage products, updates on regulations and guidelines, and other factors that affect homebuyers and homeowners.

Mortgage news can also cover topics such as the housing market, home prices, foreclosure rates, and other factors that impact the mortgage industry. For example, mortgage news may report on changes in home sales, new construction activity, or economic indicators that can affect mortgage rates.

Mortage News

NAHB: Fed Has Housing Economics “Backwards”

July 19, 2023 Mark Paul Cervantes Comments Off on NAHB: Fed Has Housing Economics “Backwards”

Builder confidence in the market for newly constructed homes rose another point in July according to the National Association of Home Builders (NAHB). The NAHB/Wells Fargo Housing Market Index (HMI) hit 56 in its seventh […]

Mortage News

Rent Increases Return to Pre-Covid Levels

July 19, 2023 Mark Paul Cervantes Comments Off on Rent Increases Return to Pre-Covid Levels

Increases in single-family rents soared in the post-pandemic environment but have now moderated to the annual levels in the pre-pandemic years of 2010 to 2019. CoreLogic’s Single-Family Rent Index (SFRI) recorded an annual increase of […]

ONS
International

ONS Statistics This Weds Will Determine Next Moves

July 18, 2023 Mark Paul Cervantes Comments Off on ONS Statistics This Weds Will Determine Next Moves

Coventry building society is increasing the cost of its fixed rate borrowing for new residential and buy-to-let customers from Wednesday (19 July), writes Jo Thornhill. The mutual, the eighth largest UK mortgage lender, will withdraw residential […]

Lawrence Yun
Mortage News

The mortgage market isn’t sending the signal homebuyers need on affordability

July 17, 2023 Mark Paul Cervantes Comments Off on The mortgage market isn’t sending the signal homebuyers need on affordability

Lawrence Yun has as big a stake in the Federal Reserve’s moves as any economist: As the chief economist for the National Association of Realtors, his industry is a target of the Federal Reserve’s efforts […]

mortgage
Mortage News

Average long-term US mortgage rate surged to nearly 7% this week to highest level since November

July 14, 2023 Mark Paul Cervantes Comments Off on Average long-term US mortgage rate surged to nearly 7% this week to highest level since November

LOS ANGELES — The average long-term U.S. mortgage rate climbed this week to just under 7%, the highest level since November and the latest setback for homebuyers already grappling with a tough housing market constrained by […]

mortgage
Financial Markets

U.S. Bank reveals new mortgage product aimed at minority borrowers

July 13, 2023 Mark Paul Cervantes Comments Off on U.S. Bank reveals new mortgage product aimed at minority borrowers

U.S. Bank has joined the growing list of mortgage providers to deploy homebuyer assistance programs to help underserved borrowers overcome the down payment obstacle. The bank has launched Access Home Loan, a mortgage Special Purpose […]

inflation
Inflation

Latest mortgage news: Rates top 7% even as inflation cools

July 13, 2023 Mark Paul Cervantes Comments Off on Latest mortgage news: Rates top 7% even as inflation cools

The U.S. inflation rate cooled to 3 percent last month, its slowest pace in two years, the Labor Department said Wednesday. But mortgage rates haven’t gotten the memo yet — the average rate on 30-year mortgages increased to 7.07 […]

Mortage News

Mortgage Application Volume Up Slightly During Holiday Week

July 13, 2023 Mark Paul Cervantes Comments Off on Mortgage Application Volume Up Slightly During Holiday Week

The Mortgage Bankers Association (MBA) reports a slight increase in the volume of mortgage applications during the week ended July 7. MBA’s seasonally adjusted Market Composite Index increased 0.9 percent on a seasonally adjusted basis […]

Australian banks
International

No Australia ‘mortgage cliff’ in sight after rate hikes, say top banks

July 12, 2023 Mark Paul Cervantes Comments Off on No Australia ‘mortgage cliff’ in sight after rate hikes, say top banks

SYDNEY, July 12 (Reuters) – Two top Australian banks said the number of home loan customers missing repayments remained below pre-COVID levels as a spike in living costs slows their discretionary spending, a sign that […]

Mortgage
Mortage News

Mortgage rates won’t go back down to 3% in my lifetime, says real estate expert—here’s why

July 12, 2023 Mark Paul Cervantes Comments Off on Mortgage rates won’t go back down to 3% in my lifetime, says real estate expert—here’s why

If you’re a U.S. homebuyer waiting for a return to super-low mortgage rates, don’t hold your breath. The short-lived era of 3% interest rates for 30-year fixed mortgages is over, and unlikely to return anytime […]

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U.S. Market

Rocket
Housing Wire

Rocket lost money last year, so why are its shares up?

February 25, 2024 Comments Off on Rocket lost money last year, so why are its shares up?

​ Rocket Companies, the parent of Rocket Mortgage, lost money in 2023, but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability. Despite reporting […]

delinquency rates
Housing Wire

Industry experts are closely watching delinquency rates, insurance costs

February 25, 2024 Comments Off on Industry experts are closely watching delinquency rates, insurance costs

​ Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. Industry experts say that although there’s a correlation […]

Jobs
Economy

Jobs data sends mortgage rates higher

February 3, 2024 Comments Off on Jobs data sends mortgage rates higher

​ Today we got a jobs Friday hat trick! Better headline jobs were reported, with positive revisions and more robust wage growth, which caught bond traders off guard and sent bond yields and mortgage rates […]

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