Mortgage rates dropped again, so why are some borrowers on the sidelines?
Survey data from Freddie Mac shows the 30-year fixed-rate mortgage rate slowed its downward trajectory this week, declining three basis points from last week to 6.41%.
Mortgage Bankers Association
Non-QRM Mortgage Rates May Be One Point Higher
In case you haven’t heard, Congress has been hard at work setting new standards for mortgages so we don’t see another housing crisis any time soon. Specifically, they’re working on a so-called Qualified Residential Mortgage, which would be exempt from risk retention rules, meaning mortgage lenders wouldn’t have to hold on to a piece of… Read More »Non-QRM Mortgage Rates May Be One Point Higher
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FHFA to allow desktop appraisals permanently
The Federal Housing Finance Agency has opted to make desktop appraisals permanent, having first introduced them as a temporary measure in March 2020. Desktop appraisals, as the name suggests, are an appraisal of a homeâs value thatâs done entirely at the appraiserâs desk. So thereâs no traveling to the home, no inspection, no measuring. Rather, […]
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Mortgage demand dropped last week despite a decline in rates
The market composite index declined by 0.8% for the week ending November 25, indicating that the rates drop last week did not help spur demand.
‘Good news’ for the spring homebuying season as mortgage rates melt, but economists warn ‘finding a deal remains an elusive quest’ – Yahoo Finance
‘Good news’ for the spring homebuying season as mortgage rates melt, but economists warn ‘finding a deal remains an elusive quest’ Yahoo Finance
Dave Stevens on understanding this housing market
Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.
LOs, mortgage rates and the long, cold winter ahead
Despite a recent decline in mortgage rates, the housing market is still nowhere near normal and volume will remain low for the foreseeable future.
Mortgage applications continue to improve ahead of spring homebuying season
The US mortgage market continues to see improvement in application volume as interest rates declined for the third consecutive week. Mortgage applications rose 7% on a seasonally adjusted basis – up 1% when unadjusted – for the week ending January 20, according to the Mortgage Bankers Association. Refinance applications jumped 15% from the previous week, … [Read more…]
Mortgage rates are down, but not enough for most borrowers
The average 30-year fixed-rate mortgage rate decreased to 6.33% this week, down 16 basis points compared to the previous week, according to the latest Freddie Mac survey.
It’s bad enough mortgage rates are over 7% â now it’s harder to qualify for a home loan – CNBC
It’s bad enough mortgage rates are over 7% â now it’s harder to qualify for a home loan CNBC