Demand for mortgages increased for the second straight week, despite some volatility in mortgage rates. Total application volume rose 6.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. related investing news The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) […]
Tag Archives: U.S. Economy
28
Feb
Feb
A “For Sale” sign in front of a home in Roseville, California, on Tuesday, Dec. 6, 2022. David Paul Morris | Bloomberg | Getty Images Higher mortgage rates weighed on home price gains at the end of 2022. While prices were still higher than they were a year earlier, the rate of increase slowed quickly, […]
21
Feb
Feb
A ‘for sale’ sign hangs in front of a home on June 21, 2022 in Miami, Florida. Joe Raedle | Getty Images After falling for five straight weeks, mortgage rates jumped last week, triggering a decline in mortgage demand. Total mortgage application volume fell 7.7% last week, compared with the previous week, according to the […]
19
Feb
Feb
America’s homebuilders are growing more bullish as buyer demand picks up, driven in part by slightly lower mortgage rates. Homebuilder confidence in the market for newly built single-family homes in February rose 7 points to 42, according to the National Association of Home Builders/Wells Fargo Housing Market Index. This is the highest reading since September […]
16
Feb
Feb
ShareShare Article via FacebookShare Article via .Share Article via LinkedInShare Article via E. Greg McBride, chief financial analyst at Bankrate.com, joins ‘The Exchange’ to discuss the impact of the Fed’s rate hikes on mortgages, credit cards, personal loans and more. source
14
Feb
Feb
The Federal Reserve raised the target federal funds rate for the eighth time in a row on Wednesday, in its continued effort to tame persistent inflation. At its latest meeting, the central bank approved a more modest 0.25 percentage point increase after recent signs that inflationary pressures have started to cool. “The easing of inflation pressures […]
12
Feb
Feb
An aerial view from a drone shows homes in a neighborhood on January 26, 2021 in Miramar, Florida. According to two separate indices existing home prices rose to the highest level in 6 years. Joe Raedle | Getty Images The U.S. housing market cooled off pretty dramatically last year, after mortgage rates more than doubled […]
02
Feb
Feb
Prospective buyers at an open house in Florida. Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images The average rate on the 30-year fixed rate mortgage has fallen to 5.99%, according to Mortgage News Daily. The housing market hasn’t seen the rate with a five handle since a brief blip […]
31
Jan
Jan
The Federal Reserve is widely expected to announce its eighth consecutive rate hike at this week’s policy meeting. This time, Fed officials likely will approve a 0.25 percentage point increase as inflation starts to ease, a more modest pace compared with earlier super-size moves in 2022. Still, any boost in the benchmark rate means borrowers […]
22
Jan
Jan
Homes in Rocklin, California, US, on Tuesday, Dec. 6, 2022. A record number of homes are being delisted as sellers face a sharp drop in demand, according to real estate brokerage Redfin. David Paul Morris | Bloomberg | Getty Images Sales of previously owned homes dropped 1.5% in December from the previous month, according to […]