By Mike Colpitts Uncertainty over the U.S. economy and lower rates paid to investors on U.S. Treasuries sent mortgage rates lower for the week, hitting 3.88% on a 30-year fixed rate mortgage, which is just one basis point off of its all-time record low, according to Freddie Mac. Rates have now been under 4% for… Continue reading Mortgage Rates Ease Lower
Category: Statistics
Kiddie Home Purchases Jump
By Mike Colpitts A tight mortgage market has triggered a jump in parents, grandparents and other relatives helping younger home buyers qualify for a home loan. Baby boomer parents have helped a son or daughter to purchase a home by co-signing for a mortgage, supplying down payments or purchasing a home outright in 20% of… Continue reading Kiddie Home Purchases Jump
Refinances Lead Mortgage Rebound
By Ryan Jackson Refinancing led a rebound in mortgage financing last week as homeowners applied for mortgages at the highest rate in at least two months, according to the Mortgage Bankers Association. Refinances jumped 13.5% from the previous week. Near record low mortgage rates got homeowners seeking refinances off the sidelines to take advantage of… Continue reading Refinances Lead Mortgage Rebound
Mortgages Slow Despite Rate Drop
By Mike Colpitts Growing doubts about the U.S. economy and weakness in the job sector slowed mortgage application activity last week, despite a drop in key mortgage rates being offered by lenders, according to the Mortgage Bankers Association. The market composite index, a combination of both refinances and home purchase applications dropped 3.8%. But the… Continue reading Mortgages Slow Despite Rate Drop
Mortgage Rates Pop Higher
By Mike Colpitts Nearly at their record lows, mortgage rates popped higher this week, up two basis points to 3.90% on a fixed 30-year mortgage, according to Freddie Mac. Rates have been hovering near their record low levels for almost two months. The shorter term 15-year fixed rate loan also popped two basis points higher… Continue reading Mortgage Rates Pop Higher
Mortgage Rates Fall Three Straight Weeks
By Mike Colpitts Shaken by troubled financial markets and weaker than expected employment growth, mortgage rates fell for the third straight week, with the 15-year fixed rate mortgage hitting a new all-time record low, according to Freddie Mac. The 30-year fixed rate mortgage averaged slightly above its record low, reaching 3.88% with an average 0.7… Continue reading Mortgage Rates Fall Three Straight Weeks
Mortgage Rates Fall Three Straight Weeks
By Mike Colpitts Shaken by troubled financial markets and weaker than expected employment growth, mortgage rates fell for the third straight week, with the 15-year fixed rate mortgage hitting a new all-time record low, according to Freddie Mac. The 30-year fixed rate mortgage averaged slightly above its record low, reaching 3.88% with an average 0.7… Continue reading Mortgage Rates Fall Three Straight Weeks
Mortgage Slowdown Resumes Despite Low Rates
By Kevin Chiu Led by a slowdown in mortgage refinancing activity, mortgage applications slowed for the sixth time in seven weeks this past week to keep the housing market at a snails pace, according to the Mortgage Bankers Association. The disappointing news came after an increase in mortgage applications the prior week. The slowdown was… Continue reading Mortgage Slowdown Resumes Despite Low Rates
Housing Starts Unexpectedly Slide
By Mike Colpitts Despite record warm weather making it attractive for new home builders, housing starts saw an unexpected slide in March, but new home building permits rose to the highest level in three and a half years, according to the Commerce Department. The drop in new home construction caught economists off guard as starts… Continue reading Housing Starts Unexpectedly Slide
Short Sales Double Leap
By Ryan Jackson Bank assisted short sales or mortgage holders who are approved to sell their homes for less than what is owed on a mortgage leaped to double the number of short sales approved in 2009 last year. There were 227,570 short sales approved in 2011 accounting for a 12% increase from the previous… Continue reading Short Sales Double Leap