Daily Dose

The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

The historic ninth increase of interest rates in just over a year occurred at the conclusion of the Federal Open Market Committees March meeting. Click through to find out how much rates are going up this time.

"Conscious of changing mortgage rates, home buyers are taking advantage of any rate declines," said NAR Chief Economist Lawrence Yun.

According to a new CoreLogic report, single-family rent price growth was up by nearly 6% year-over-year in January, marking the lowest rate of appreciation since the spring of 2021.

According to a new market report from Zillow, high interest rates caused new listings to hit a record low in February, frustrating willing homebuyers nationwide.

The addition of Dan Ventura as its new VP of Reverse Operations follows the formalization of the company’s Regional Reverse SVP program, and the addition of eight new SVPs.

The American Enterprise Institute and Center for Responsible Lending are jointly warning borrowers that cash-out refinances may worsen their financial stability for years to come by shouldering monthly payments that are significantly higher.

Fannie Mae and Freddie Mac both offer special mortgages for green homes; federal and state programs also promote weatherization initiatives through grants for certain projects.

Through the purchase of Cherry Creek Mortgage, Guild Mortgage will integrate reverse mortgages into its traditional mortgage platform, using Guild’s nationwide retail team across nearly 300 branches.

“For the third consecutive quarter, the average pre-tax net production income was in the red, reaching a new survey low of 99 basis points of loss in the final three months of 2022,” said Marina Walsh, CMB, MBA’s VP of Industry Analysis.