Tag Archives: declined

Retirement savings declined by an average of 10% in 2022 The share of retirees with nothing saved increased from 30% to 37%, according to a new survey

Last year, retirees lost an average of 10% of their accrued savings for retirement. The average retirement savings dropped from $191,659 in 2022 to $170,726 by the start of 2023, according to a survey conducted by Clever Real Estate. The survey also shows that the share of retirees who have nothing saved jumped from 30% to 37% […]

Purchases of second homes declined in June Home prices in seasonal towns rose 28% year over year

For the first time in a year, the number of buyers who locked in mortgage rates to purchase a second home fell in June. Per a recent Redfin study, second home mortgages saw a year-over-year decrease of 11.1%. Home prices in seasonal towns, meanwhile, rose 28% year over year to $468,000 in June. The dip in vacation […]

Mortgage demand fell last week even as rates declined slightly

A For Sale sign is posted in front of a property in Monterey Park, California on August 16, 2022. Frederic J. Brown | AFP | Getty Images Mortgage rates fell slightly last week, but not enough to fuel any kind of recovery in consumer demand for home loans. Total mortgage application volume fell 2% from […]

Mortgage Forbearance rate finally hits pre-pandemic levels The total number of loans in forbearance declined by 4 bps to 2.96%, according to the MBA

T.’s more blood on the tracks in the non-QM market REIT Western Asset Mortgage Capital, coping with red ink and underwater non-QM loans, is exploring a sale or merger By DDA Mortgage • 09 Aug, 2022 • The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market […]

Rate hikes haven’t depressed interest in purchase mortgages – yet Overall, mortgage applications declined 6.8% for the week

Interest in residential mortgage loans fell 6.8% for the week ending March 25 as rates jump even closer to the 5% mark, according to the Mortgage Bankers Association‘s latest survey. Few borrowers these days have an incentive to refinance their mortgage. According to the MBA, refi applications fell 15% from the prior week and 60% from a year […]

Forbearance rate declined to just 1.18% in February In total, about 590,000 homeowners were in forbearance plans as of February 28

Servicers’ forbearance portfolio volume dropped in February for the 21st-consecutive month, with more borrowers current on their mortgage payments due to improvements in the economy and viable loss mitigation options. The total number of loans in forbearance decreased by 12 basis points, from 1.30% in January to 1.18% in February, according to the Mortgage Bankers Association (MBA). In total, about 590,000 homeowners […]