Today’s mortgage and refinance rates Average mortgage rates rose yet again yesterday. But it was the smallest increase for a couple of weeks. Is that any consolation? Unfortunately, mortgage rates […]
Mortgage rates WISH they were still at 2.97%–the number conveyed today by Freddie Mac’s weekly survey. Freddie’s data is accurate when it comes to capturing broad trends over time, but can really fall short when the bond market is experiencing elevated volatility. To say that bond market volatility has been elevated recently is an understatement of extreme proportions. Things are happening that haven’t happened in years . Some measures of volatility rival the March 2020 panic surrounding covid, only this time, there’s no catalyst other than the market movement itself. Today was by far the worst of the bunch when it comes to this most recent spate of volatility. Most any mortgage lender added another eighth of a percent to their 30yr fixed rate offerings. Over the course of the past week, most
Posted To: MBS Commentary
Surprisingly Swift Selling in The Bond Market; What's Next? This week has been one of the most surprising selling sprees in bonds in the post-covid era. Just when you think we've surely seen enough selling to bring buyers in, it's right back to new long-term high yields and significantly lower MBS prices. That bounce is coming, to be sure, but it's a risky proposition to bet on it. Moreover, when it happens, it changes nothing about the broader trend toward higher yields that's been intact for more than 6 months. This week just happens to offer a more abrupt adjustment to the pace of that trend. Econ Data / Events Fed MBS Buying 10am, 1130am, 1pm Markit PMI Composite 58.8 vs 58.7 prev Existing Home Sales 6.69m vs 6.61m f'cast, 6.65m prev Market Movement Recap 08:28 AM…(read more)
In an effort to protect homeowners, the FHFA extended forbearance coverage to 18 months and pushed the eviction and foreclosure moratorium to June 30.
The post FHFA extends forbearance period to 18 months appeared first on HousingWire.
Austin, Texas-based mortgage tech startup Fleuid has secured funding to help bolster its digital platform expansion. Fleuid announced Monday that it had closed a Series A financing round led by Aquiline Technology Growth (ATG) with additional participation from Commerce Ventures. In addition to growing the Flueid platform, the company will also use the capital injection … [Read more…]
Berkeley is the latest city looking at opening up exclusive neighborhoods to more housing as the region struggles with exorbitant rents and home prices and increasing homelessness.
Lender credits let the mortgage lender pay closing costs, while the borrower pays a higher interest rate. Find out if lender credits are worth it here.
Posted To: MND NewsWire
Loan performance continued to improve in January although the number of delinquencies remains significantly elevated from pre-pandemic levels. Black Knight’s first look at the month’s loan performance data has both good news and some that is disquieting. The good news is a 121,000-loan decline in the number of loans that are 30 or more days past due but not in foreclosure when compared to the prior month. This reduced the national delinquency rate to 5.85 percent, the first time the rate has been under 6 percent since the pandemic hit in March 2020. The number of seriously delinquent loans, those 90 or more days past due but not in foreclosure, was reduced by 56,000 loans. Black Knight includes loans that are in active forbearance plans in its delinquency numbers if they are non-current. However…(read more)
The average mortgage rate for a 30-year fixed loan is now just 3 basis points away from 3%, after a 16 basis point jump according to Freddie Mac.
The post Mortgage rates climb higher to 2.97% appeared first on HousingWire.
Assembling enough money for a down payment is typically the largest hurdle to clear when securing a mortgage. The median home price in the U.S. is up 14% year-over-year, according to a November 2020 Redfin report, and as the housing … Continue reading →
The post Years of Work Needed to Afford a Down Payment – 2021 Edition appeared first on SmartAsset Blog.