Tag Archives: high

Adjustable-rate mortgage demand surges to 14-year high, as homebuyers try to afford this pricey spring market

A newly sold home is shown in Houston, Texas. Brandon Bell | Getty Images It could be more listings on the market, or perhaps just fear that interest rates will move even higher, but homebuyers are showing more demand for mortgages. They are, however, turning even more to adjustable-rate mortgages (ARMs), which offer lower rates. […]

Mortgage demand hits lowest level since 2018 as rates hit 13-year high

ShareShare Article via FacebookShare Article via .Share Article via LinkedInShare Article via E. Squawk Box CNBC’s Diana Olick joins ‘Squawk Box’ to break down the latest batch of weekly mortgage application data. 01:16 Wed, Apr 27 20228:15 AM EDT Diana Olick source

House prices to reach record high, shows Reallymoving data

The forward-looking index, which captures the purchase price buyers agree to pay when they search for conveyancing quotes, suggests that the imbalance between supply and demand will continue to drive prices upwards through the spring despite growing pressures on household finances and rising borrowing costs. The supply crunch, which has seen the volume of properties […]

Purchase mortgages cross dreaded 5% threshold Combined with inflation and high home prices, it’s the “most expensive” market in a generation

The 5% threshold has been crossed, and given all the headwinds in the U.S. economy, it doesn’t appear that mortgage rates will be dropping below that mark anytime soon. Purchase mortgages this week averaged 5%, up 28 basis points from 4.72% a week ago, according to the latest Freddie Mac PMMS. A year ago at this time, rates were at […]

Wells Fargo continues to see high demand for new homes, says CFO Mike Santomassimo

ShareShare Article via FacebookShare Article via .Share Article via LinkedInShare Article via E. Mike Santomassimo, Wells Fargo CFO, joins ‘Closing Bell’ to discuss Wells Fargo’s earnings. He says the company continues to innovate and see growth in mortgages. source

Here are money moves to make amid high inflation, rising interest rates

RgStudio | E+ | Getty Images New government data showing record high inflation probably comes as no surprise to consumers who are facing sticker shock everyw. from the grocery aisles to the gas pump. Now, all eyes are on the Federal Reserve, which is expected to continue to raise interest rates to try to tamp […]

Mortgage rates surge to 3-year high following Fed hike

Mortgage rates accelerated following last week’s Federal Reserve meeting, with the 30-year average now at its highest in over three years, according to Freddie Mac. The 30-year fixed-rate mortgage average came in at 4.42% for the weekly period ending March 24, based on data from Freddie Mac’s Primary Mortgage Market Survey, a spike of 26 […]

January construction output reaches two-year high

It added that building activity is now at its highest level since September 2019. The ONS says construction output in January came “solely” from an increase in repair and maintenance activity, which lifted by 4.6%, as new work saw a fall of 0.8% in the month. A more representative quarterly view shows construction rose by […]