Tag Archives: Higher

This Is Why Higher Interest Rates Are Good For Homebuyers And Bad For Sellers

This Is Why Higher Interest Rates Are Good For Homebuyers And Bad For Sellers. You know a higher interest rate means a higher interest payment. That is a given. However, as a buyer, higher interest rates do three things. They push investors out of the housing market, they stabilize home prices, and they push uneducated […]

Mortgage applications rise despite higher rates Purchase activity has now increased for two straight weeks

Prospective homebuyers aren’t deterred by the skyrocketing mortgage rates amid a slow start to the spring home-buying season this year. The Market Composite Index, a measure of loan application volume, rose 2 percent on a seasonally adjusted basis for the week ending May 6, from the previous week, according to the Mortgage Bankers Association. Conventional, Federal Housing Administration (FHA) and Veterans […]

Higher property prices boost owners’ equity

Australians have unlocked new-found equity in their homes and are transforming them into dream properties, says a Central Coast finance broker. Universal Mortgage Experts (UME) director Nathan Aird (pictured) said property values had increased across the country with lifestyle areas such as NSW’s Central Coast recording rapid growth. “We are busier now more than ever […]

Weekly rate watch: Fixes climb higher

The average rate for a two-year fix lifted by 2 basis points, to 2.98%, while the average rate for a three-year fix was up by 3 basis points rise taking it to 2.96%.  Over longer terms, a 10-year fix jumped by 21 basis points to 3.18%, as the average rate for a five-year fix lifted […]

Broker welcomes higher price cap for home guarantee scheme

The federal government’s decision to boost the price cap for the Home Guarantee Scheme is a win for regional areas, says broker Aaron Bell. “The scheme really has become a specialist area of its own,” said Bell, owner of Sydney brokerage Home Loan Village (pictured). “This increase basically allows more buyers easier access to property […]

Higher interest could add $100,000 to loans

More than half of the 2,500 Australian adults surveyed about mortgage payments are worried they won’t be able to cover the cost if the Reserve Bank increases the official cash rate. Canstar’s analysis showed the average variable rate would rise from 2.99% to 3.89% if the cash rate reaches 1% this year. The financial comparison site […]

Mortgage refinance demand plunges 14%, as interest rates spike higher

A sharp increase in mortgage interest rates is taking its toll on loan demand, especially refinances. Total mortgage application volume fell 8.1% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased […]

Mortgage rates jump back to higher, pre-Ukraine war levels

A “For Sale” sign is seen outside a home in New York. Shannon Stapleton | Reuters The war-induced drop in U.S. mortgage rates was short-lived. Rates popped up again this week to the highest level in nearly two years.  The average rate on the popular 30-year fixed mortgage hit 4.19% and then fell to 3.90% […]

Higher interest rates… should act to cool off the housing market over time: Fed Chair

#housing #inflation #wages Fed Chair Powell on housing: “Housing inflation really is much more of an indicator of the tightness of the economy rather than supply-side problems… housing is a very interest-sensitive sector and rates moving back towards more normal levels should act to cool off housing markets. Don’t Miss: Valley of Hype: The Culture […]