The Mortgage Bankers Association (MBA) has launched a new affordability index aiming to measure how new mortgage payments vary across time relative to their income. The new monthly ...
Read More »Fed Rate Hike Drives Down Mortgage Application Volume
Driven by last week’s Fed rate hike, both purchase and refi apps tailed off week-over-week, as fixed-rate mortgages advanced beyond the 4% mark, pricing many first-time buyers out of the market.
Read More »New Home Sales Slip in February
Sales of new single‐family houses were at a seasonally adjusted annual rate of 772,000 in February, falling 2% below January’s rate of 788,000.
Read More »Home Price Gains Outpace Median Income in Major Cities
Zillow found that over the course of 2021, the gains most homeowners realized amounted to much more than the median income for the associated areas.
Read More »New Home Purchases Decrease in February
According to the Mortgage Bankers Association's Builder Application Survey (BAS), data for February 2022 shows mortgage applications for new home purchases decreased by 1%, but on a year-over-year basis applications are ...
Read More »Fannie Mae Predicts Eight Rate Changes Before 2024
A slowing economy, decades-high inflation, expired fiscal stimulus, tightening monetary policy, and now Russia's invasion of Ukraine are all weighing on the health of the U.S. economy.
Read More »Existing Home Sales Drop in February
Continuing a pattern of recent rises and declines over the last few months, existing home sales dropped in February 2022 according to the Existing Home Sales Report from ...
Read More »New Residential Construction Statistics for February 2022 Are In
The U.S. Census Bureau and the U.S. Department of Housing and Urban Development have released their new residential construction statistics for February 2022, which found that privately‐owned housing starts ...
Read More »Mortgage Rates Cross the 4% Mark
For the first time since May of 2019, mortgage rates have risen above the 4% mark, on the heels of news that the Federal Reserve has upped short-term rates.
Read More »Rise in Rates Brings Another Dip in Refi Apps
Overall mortgage application volume fell week-over-week, as investors continue to weigh the impact of rapidly increasing inflation nationwide.
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