News

Mortgage Lending Sets a 20-Year Record with $1.1T in Q2

U.S. lenders issued a staggering $1.1 trillion in home loans between April and June, marking the biggest quarter in at least two decades, according to mortgage data firm Black Knight. The record quarter highlights the growing disparity between homeowners who are primed to take advantage of perfect conditions, and those who are simply desperate to not lose […]


‘The Market is on Fire’: August Bidding Wars Spike over 5x from 2019

More than half of U.S. homes on the market faced bidding wars in August, reaching that level for the fourth straight month, according to Redfin. With extremely tight housing inventory contributing to a spike in buyer demand, 54.5% of properties underwent bidding wars in August, with some metro areas peaking above 65%. That share decreased from July’s […]


Why You Might Want a Jumbo Mortgage Right Now – Even if You Don’t ‘Need’ It

Yes, it’s gotten harder to access multi-million-dollar home loans, but affluent buyers—who’ve bull-rushed suburban and second-home markets in the wake of the pandemic—should seriously explore financing even if you can offer all cash. That goes for refinancing a luxury home, as well. The upside to leveraging and investing that cash has only increased now that […]


Average U.S. 30-year Mortgage Rate Rises this Week

We may have seen the bottom in the average 30-year fixed mortgage rate, at least for the next few weeks, said Freddie Mac Chief Economist Sam Khater in a report on Thursday that showed mortgage rates rising 2 basis points to 2.93% this week. A rise in the yields on 10-year Treasuries, which serve as a benchmark for investors in mortgage-backed […]


Mortgage Rates Hold Steady Heading into Holiday Weekend

Mortgage rates paused ahead of Friday’s employment report and the Labor Day weekend. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average ticked up to 2.93 percent with an average 0.8 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to […]


Why is the Housing Market Thriving in a Pandemic?

The deadliest pandemic in more than a century has failed to derail the housing market because of the lowest mortgage rates ever recorded coupled with a shift in how people use their homes. “The buyers are coming in because of the low interest rates – that’s the No. 1 reason,” said Lawrence Yun, chief economist of the National Association of Realtors said in […]


Millennials Flood the Real Estate Market Thanks to Low Mortgage Rates

After millennials seemed poised to createa ‘roaring 20s’ of home buying in May and a boom of purchasingstarted to crest in June, July followed the trend further, according to Ellie Mae. Mortgage applicants between 21 and 40 took advantage ofJuly’s sub-3% mortgage rates, locking in an average 30-year rate of 3.256% — the lowest on record […]


Orange County Home Prices Hit Sixth Record High in Seven Months

Orange County, Calif., home buying rebounded last month to levels above 2019, a buying surge that pushed the median sales price to its sixth record high of 2020. DQNews reports Orange County closed sales stats for July show that 3,450 homes sold, existing and new, up 6.7% in a year, and year-to-date, 16,917 purchases were […]


Insatiable demand drives July Pending Home Sale by 15% Annually

U.S. pending home sales rose 5.9% in July, the third consecutive month of gains, fueled by low mortgage rates and unprecedented demand from consumers. The seasonally-adjusted index measuring signed contracts was up 15.5% year over year, largely on the back of pent-up demand from buyers who were unable to strike deals during the spring, said Lawrence Yun, chief economist […]