Tag Archives: Fall

HELOC volumes are surging as refinances fall: TransUnion

As mortgage rates rise, consumers are pivoting away from cash-out refinances and toward HELOCs, a shift that many lenders are looking to take advantage of going forward.  TransUnion reported the volume of new home-equity lines of credit increased in the fourth quarter of 2021 by 31% year over year, from 212,303 to 278,230. Home-equity loan […]

Foreclosure completions fall sharply | National Mortgage News

Foreclosure completions fell sharply in the past month as starts inched down, potentially pointing to a new market trend, according to a new Attom Data Solutions report. April completions dropped 36% from March, to 2,830, while foreclosure starts were roughly the same, falling only slightly to 22,286 from 22,360. Compared to a year ago, when […]

UK suffers fall in new construction orders

At 58.2, down from 59.1 in March, the S&P Global/CIPS UK Construction Purchasing Managers’ Index – which measures month-on-month changes in total industry activity – signalled the weakest rate of output growth since January. The report says: “Signs of a slowdown in client spending contributed to another drop in growth expectations, with the degree of […]

Bonds fall before Fed decision

Stocks wavered while bonds fell as investors braced for the biggest Federal Reserve hike since 2000 and awaited more clues on how aggressively the central bank will tackle inflation. Key for markets will be whether Fed Chair Jerome Powell’s commentary contains any hawkish surprises that could stoke concerns about a U.S. economic slowdown. Swap traders […]

Employers fall short when it comes to training

It’s a new type of social contract, says Malika Asthana, manager of strategy and public affairs for Canada at D2L in Toronto. “People of all generations — particularly people who are a bit earlier in their careers, Gen Z and millennials — are interested in opportunities that will enable them to grow and see a […]

March existing home sales fall, median price sets new record

House “sold” sign Peoria, Illinois Daniel Acker | Bloomberg | Getty Images Sales of existing homes dropped 2.7% in March to a seasonally adjusted, annualized rate of 5.77 million units, according to the National Association of Realtors. February’s reading was also revised downward with a larger-than-usual dent, from 6.02 million units to 5.93 million. March […]

Mortgage applications continue to fall as interest rates hit 5%

Likewise, both refinance and purchase applications were also 8% and 3% lower than the previous week, respectively. Both percentages are significantly lower compared to the same time last year. Joel Kan, associate vice president of economic and industry forecasting at MBA, said rapid inflation and tight monetary policies had pushed mortgage rates through the roof. […]

Home sales fall in February ahead of key spring selling season

A home with a sign indicating that it is under contract to be sold is seen in a neighborhood of downtown Washington. Jim Bourg | Reuters In a grim sign for the housing market’s busiest season, pending home sales, which measure signed contracts on existing homes, fell 4.1% in February compared with January, according to the […]

February home sales fall far more than expected, as mortgage rates rise

A For Sale sign is displayed in front of a house in Washington, DC, on March 14, 2022. Stefani Reynolds | AFP | Getty Images Sales of previously owned homes fell 7.2% month to month in February to a seasonally adjusted annualized rate of 6.02 million units, according to the National Association of Realtors. That […]

Long-term Mortgage Rates Fall – 30-Year at 3.75%

Mortgage Rates Fall

The Fed’s anticipated interest-rate cut and other events, such as the U.S.-China trade war, helped push mortgage rates lower last week.   WASHINGTON (AP) – U.S. long-term mortgage rates fell this week, edging toward three-year lows amid signals from Federal Reserve officials that they could cut their benchmark interest rate at their meeting next week. […]