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Gauge of U.S. pending home sales declines to a six-month low

A gauge of U.S. pending home sales fell to a six-month low in January as buyers competed for a limited number of properties.

Mortgage and refinance rates today, February 26, 2021

Today’s mortgage and refinance rates  Average mortgage rates soared yesterday, rising by a greater amount than we’ve seen in a long time. Of course, they’re still very low in a […]

Brutal Week For Rates But There’s Hope (Hopefully)

Rising rates have been on the menu for months, but the drama kicked into a higher gear this week. Maybe you heard about this? We’ve certainly been discussing it in recent newsletters ( especially last week’s ). The rising rate narrative hit the mainstream this week as it was widely credited for doing damage to the stock market. Perhaps you even caught one of Thursday’s many mortgage rate headlines citing the spike in Freddie Mac’s weekly mortgage rate survey. Freddie reported a jump in 30yr fixed rates from 2.81 to 2.97, their biggest in nearly a year. Unfortunately, Freddie was low last week and they’re WAY low this week. This is a common problem when things are this volatile. Although their survey is published on Thursdays, most of the responses are in by Monday. As such, their numbers didn

Freddie Mac’s 12-Month Portfolio Growth Nears Half Trillion

Posted To: MND NewsWire

Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 16.1 percent in January compared to a 22.4 percent gain in December. The portfolio balance at the end of the period was $2.777 trillion compared to $2.740 trillion the prior month and $2.339 trillion a year earlier. Purchases and Issuances totaled $120.128 billion and Sales were ($.588) billion. The December numbers were $129.639 billion and ($1.330) billion, respectively. Single-family refinance loan purchase and guarantee volume was $84.5 billion in January compared to $77.6 billion in December, representing a 73 percent share of total single-family mortgage portfolio purchases and issuances, up from 70 percent the previous month. Purchases in Freddie Mac’s Mortgage Related Investments Portfolio…(read more)

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Today’s mortgage rates see highest mark since June 2020 | February 26, 2021 – Fox Business

  1. Today’s mortgage rates see highest mark since June 2020 | February 26, 2021  Fox Business
  2. The best mortgage rates of 2021  MarketWatch
  3. Today’s Best Mortgage Rates, February 26th, 2021 : Rates rise  Bankrate.com
  4. Current Mortgage Interest Rates, February 26, 2021 | Rates Increased  NextAdvisor
  5. Mortgage rates are climbing. Don’t panic  CNN
  6. View Full Coverage on Google News

Mortgage and refinance rates today, February 25, 2021

Today’s mortgage and refinance rates  Average mortgage rates nudged higher yet again yesterday. Of course, these rates remain exceptionally low by historical standards and are at dream levels for most. […]

Pending Home Sales Post 5th Straight Loss

Posted To: MND NewsWire

January marked the fifth straight month that the National Association of Realtors® (NAR) has reported a decline in its Pending Home Sales Index (PHSI). The index, based on newly signed contracts for the purchase of existing homes, was down 2.8 percent from its December level. The index in January was at 122.8 compared to 125.5 in December and has lost 10 points since August. Still, pending sales were up 13 percent compared to a year earlier. This January’s PHSI was, in fact, the highest for any January on record. Analysts had expected the index to be flat but individual estimates by those polled by Econoday all overshot the actual results. They covered a range from a 1.5 percent downturn to 0.5 percent growth. The consensus was for zero change. “Pending home sales fell in January because…(read more)

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How will a surge in bond yields affect your mortgage, car loans and 401(k)? – USA TODAY

How will a surge in bond yields affect your mortgage, car loans and 401(k)?  USA TODAY

Mortgage and refinance rates today, February 24, 2021

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 Are Now Well Over 3 Percent

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