News

Mortgage Rates Champion Growth In Potential Existing Home Sales

In April, potential existing-home sales increased 0.1% from the previous month, narrowing the market’s improvement gap, according to First American’s Potential Home Sales Model. “The housing market continued to underperform its potential in April 2019, but the performance gap shrank compared with March,” First American Chief Economist Mark Fleming said. “Actual existing-home sales remain 1.3% below […]


U.S. Long-Term Mortgage Rates Fall

U.S. long-term mortgage rates fell slightly this week, marking a third straight week of declines as a continued inducement to purchasers in the spring homebuying season. Mortgage buyer Freddie Mac said Thursday the average rate on the 30-year, fixed-rate mortgage eased to 4.07% from 4.10% last week. By contrast, a year ago the benchmark rate […]


Rising Mortgage Prepayment Speeds May Be Short-Lived Phenomenon

While prepayment speeds on agency mortgage-backed securities rose in April, that increase should be short-lived as further significant interest drops are not expected, said a report from Keefe, Bruyette & Woods. Prepayment speeds for 30-year fixed-rate mortgages in agency securities rose 25% in April from March. But the increase was not just driven by lower […]


Mortgage Rates Moderate, Stronger Spring Homebuying Season

Mortgage interest rates have begun to moderate, giving way to a healthier spring homebuying season, according to the latest Freddie Mac Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 4.10% for the week ending May 9, 2019, down from last week’s rate of 4.14%. A year ago, the rate was 4.55%. “Investors wary of the current economic situation due to ongoing […]


Mortgage Applications Rise After Several Weeks Of Declines

After several weeks of declining applications, homebuyers bounced back into the market. Mortgage applications increased 2.7% compared with the previous week, according to the Mortgage Bankers Association (MBA). Purchase applications drove the gains. Applications to buy a home increased 5% from one week earlier based on the unadjusted Purchase Index and 5% higher than a […]


Home Prices In 20 U.S. Cities Cool

Home prices in 20 U.S. cities rose in February at the slowest pace since 2012, decelerating for an 11th straight month, as sellers continue to make properties more affordable to lure buyers. The S&P CoreLogic Case-Shiller index of property values increased 3% from a year earlier, matching analyst projections, after 3.5% in the prior month, data […]


The 55+ Housing Market Is Booming

The 55+ housing market is thriving right now as more Baby Boomers look to invest in a new nest to live out their retirement dreams. With scores of older adults looking at new single- and multifamily builds, homebuilder confidence in this market has soared to a record high. According to the latest from the National Association […]


The U.S. Unemployment Rate Just Fell To A 50-Year Low

In April, the U.S. economy added 263,000 jobs, rising from March’s 196,000, according to the latest Employment Situation Summary report from the U.S. Bureau of Labor Statistics. According to the report, the unemployment rate retreated to 3.6%. Overall, the number of unemployed persons declined by 387,000 to 5.8 million in April. The jobless rates for men at 3.4%, whites at […]


After Four Weeks, Mortgage Rates Finally Fall

After four weeks of consecutive gains, mortgage interest rates finally reversed course, according to the latest Freddie Mac Primary Mortgage Market Survey. The 30-year fixed-rate mortgage averaged 4.14% for the week ending May 2, 2019, down from last week’s rate of 4.20%. A year ago, the rate was 4.55%. Freddie Mac Chief Economist Sam Khater said labor economic dataand slightly weaker inflation […]


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