rate hikes - Real Estate Investor Pulse

Week Seven of Rate Hikes and Purchase Volume Falls Again

October 25, 2023 Mariel Alumit Comments Off

Interest rates rose again last week, as did the share of borrowers seeking a little price relief by applying for adjustable-rate mortgages (ARMs). While applications for refinancing rose slightly, overall volume declined again. The Mortgage […]

Mortgage demand surged after Fed signaled potential pause in rate hikes

May 10, 2023 Mark Paul Cervantes Comments Off

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased last week to 6.48% from 6.50% Applications to refinance a home loan jumped 10% last week, compared with […]

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

February 25, 2024 Comments Off

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 […]

Industry experts are closely watching delinquency rates, insurance costs

February 25, 2024 Comments Off

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 data sends mortgage rates higher

February 3, 2024 Comments Off

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 […]