Tag Archives: highest

Adjustable-rate mortgage demand doubles as interest rates hit the highest since 2009

Mortgage rates moved even higher last week, crashing refinance demand and prompting potential homebuyers to apply for riskier loan products which offer lower rates. Total mortgage application volume fell 8.3% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Demand is now half of what it was a […]

South Florida rents top New York area after highest rent increases in the country

The South Florida region saw the highest rent increases in the country in the past year, with some rents more than doubling. The median rent in the tri-county area jumped 57% from March 2021 to March 2022, according to the latest data from realtor.com. The region had the highest rent increases out of the 50 […]

Mortgage refinance demand plunges 60%, as rates hit their highest level since 2018

Mortgage rates took another jump higher last week, taking their toll on current borrowers who might have wanted to refinance. Demand from homebuyers, however, appears to be hanging in for now. Total mortgage application volume decreased 6.8% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. This, as […]

Cash-out refis reach $1.2T in 2021, highest level since 2005 Origination volume hit new record of $4.4T in 2021, according to Black Knight

Record home prices in recent years have pushed tappable home equity to new heights, increasing the demand for one specific product: cash-out refis. Black Knight data shows that lenders originated $1.2 trillion in cash-out refis in 2021, up 20% compared to the prior year, the highest volume since 2005. Cash-out refis went from 36% to more than […]