week - Real Estate Investor Pulse

Weekly mortgage demand was flat, even as interest rates drop for the third straight week

June 21, 2023 Mark Paul Cervantes Comments Off

Last week the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.73% from 6.77%. Applications to refinance a home loan fell 2% for the week and […]

A week late, Freddie Mac releases Q4 2022 results

February 22, 2023 Mark Paul Cervantes Comments Off

A week after canceling its quarterly earnings results without explanation, Freddie Mac on Wednesday disclosed a net profit of $1.76 billion in the fourth quarter. That figure was a sequential gain on the $1.3 billion […]

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 […]