Consequentially, home loan applications fell 7.7% week over week, according to the Mortgage Bankers Association. Refinance applications were down 13%, and purchase activity declined 5% compared to the prior week. “Mortgage rates increased across the board last week, pushed higher by market expectations that inflation will persist, thus requiring the Federal Reserve to keep monetary … [Read more…]
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Are you paying off student loans? If so, youâve probably heard some version of this advice: âThe sooner you start investing, the more time your portfolio has to grow through the magic of compound interest. But if you wait to get started until your student loans have been totally paid off, youâll miss out on
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“Unlike in the past, the likelihood of the industry benefiting from another refinance wave in the next few years appears remote,” said a team of mortgage analysts at KBW.
Demand for purchase loans sinks as mortgage rates rebound Inman
Last week mortgage rates rose as purchase applications and inventory fell, with a noticeable move lower in new listing data.
Refinance application activity was down by 13% from the previous week, and purchase application volume dropped 6% on a seasonally adjusted basis. “Refinance borrowers, both rate/term and cash-out, remain on the sidelines as current rates provide little financial incentive to act,” Kan said. “Purchase applications dropped to their lowest level since the beginning of this … [Read more…]
If thereâs one thing weâre not short of, itâs mortgage rate forecasts. Everyone seems to have an opinion, though often theyâre just that, opinions. Still, mortgage rates are always top of mind for prospective home buyers and existing homeowners because they can translate to lots of dollars in savings. That being said, we now have… Read More »This Is How High a 30-Year Fixed Mortgage Rate Will Be in 2020
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