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Why Are Mortgage Applications Declining?

12.05.2018

According to a report by the Federal Reserve Bank of New York’s Center for Microeconomic Data, mortgage loan application rates decreased from 7.1 percent in June to 6.7 percent, due to higher mortgage interest rates. However, application rates for mortgage refinancing rose from 7.5 percent in June to 9.2 percent. Overall, mortgage and mortgage refinance application rates remained low in 2018.

Mortgage lenders not easing up on credit scores despite tanking refis

11.27.2018

Average credit scores for mortgage borrowers remain at a 2018 high, a sign that lenders aren't easing standards despite refinance candidates already falling off on higher rates, according to Ellie Mae's Origination Insights report.

Home Sales Rise After Six-Month Decline

11.23.2018

Existing home sales broke a string of six straight monthly declines in October, the National Association of Realtors (NAR) reported.

Why are Homebuyers Shying Away?

11.08.2018

Consumers are continuing to shy away from home purchases, according to the October Fannie Mae Home Purchase Sentiment Index(HPSI), released today. The index fell 2 points in the month, to 85.7, a continuation of a downward trend since the spring.

Of Mortgage Rates and Refis

11.02.2018

The extended period of low mortgage rates is drawing to a close, but it's definitely left its mark on the U.S. housing market. According to a new report by the Urban Institute, 91 percent of mortgages as of September had average rates below 5 percent.

New UltraFICO score stokes concerns about data privacy

10.26.2018

A new credit score that includes a consumer’s cash flow alongside their credit score — dubbed UltraFICO — is winning praise for its potential to help expand access to credit but also stoking concerns about its data privacy implications.

Home Sales Decline Though Prices Hold Steady

10.17.2018

RE/MAX has released its RE/MAX National Housing Report for September 2018. The report illustrates a few clear trends, one of which is fewer home-closings as inventory stabilized over the last month. The report also gave a Median Sales Price of $241,000, continuing a 30-month trend of year-over-year price hikes.

Homebuyers Optimistic Despite Affordability Fears

10.10.2018

On Monday, Fannie Mae’s Home Purchase Sentiment Index (HPSI) showed little change since September, dropping slightly from 88 to 87.7. Three of the six major factors used to assess the index dropped overall, including sentiment toward the mortgage rate and U.S. household income. The net share of those who felt less secure in their jobs since last month dropped slightly, by 1 percent, while the share of those expecting mortgage rates to decrease over the next year also dropped 4 percentage points. 

How Will Interest Rates Affect Home Buying?

09.26.2018

While real house prices stayed relatively flat month over month, according to the July 2018 First American Financial Corporation, home prices rose 12.2 percent year over year. Additionally, real house prices are 37.9 percent below their housing boom peak in July 2006 and 12.0 percent below the level of prices in January 2000.

Mortgage Apps Remain Steady

09.06.2018

Mortgage applications decreased by 0.1 percent this week, according to the Mortgage Bankers Association’s (MBA) latest Weekly Mortgage Applications Survey.

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