Update

Refinancing, Purchase Loans Surge as Mortgage Rates Dip

It seems 2020 is starting off strong in the mortgage world. According to the latest data from the Mortgage Bankers Association, mortgage loan applications were up a whopping 30.2% over last week, while mortgage rates hit their lowest point since September. Refinancing saw the biggest surge, with refinance applications up 43% over the previous [...]

By |2020-01-16T15:53:41-05:00January 17th, 2020|Categories: Mortgage|Tags: |

Mortgage Rates Drop, Refi Activity Falls in Step

Overall mortgage rates were down this week, according to the Mortgage Bankers Association (MBA), but that didn’t cause an uptick in applications. Despite the average 30-year interest rate falling to 3.91% last week (down from 3.95% and its lowest point since October), the MBA says applications for mortgage loans have fallen 22% over the [...]

By |2020-01-16T15:54:25-05:00January 10th, 2020|Categories: Real Estate Agents|Tags: |

Mortgage News You May Have Missed Over the Holidays

The holidays saw the usual slowdown in the mortgage industry, but demand is still strong compared to years prior. According to the Mortgage Bankers Association (MBA), we'll close out 2019 with purchase loans up 5% over the year and refinances up a whopping 128%. Mike Fratantoni, MBA's senior vice president and chief economist, believes [...]

By |2020-01-16T15:58:45-05:00January 3rd, 2020|Categories: Real Estate Agents|Tags: |

Housing Market Update for December 2019

With 2019 coming to a close, it's time to take a look at early fourth-quarter numbers and see what they might tell us about the new year ahead. Price and sales According to the National Association of REALTORS®, existing-home sales rose by 1.9% in October while the median price for a single-family home saw a [...]

By |2019-12-12T11:33:32-05:00December 13th, 2019|Categories: Mortgage, Real Estate Agents|Tags: |

Housing Market Update for September 2019

Interest rates are dropping, home price increases are slowing, and fear that a recession could be just around the corner are just some of the factors impacting the housing market and the US economy this September. The good news? Existing home sales rose by 1.3% in August. Sales rose in the northeast, the midwest, [...]

By |2020-01-16T11:17:07-05:00September 27th, 2019|Categories: Real Estate Agents|Tags: |

Does It Really Matter How Low Mortgage Rates Go?

Predictions are always interesting. Of course some are more interesting than others, depending on topic. Some are scientific (like predicting the winner of the Super Bowl), while others are made for fun (like the weather). Mortgage guru Barry Habib made a fairly bold prediction recently. Based on some market indicators, he believes that 30-year mortgage [...]

By |2020-01-16T10:50:51-05:00June 28th, 2019|Categories: Mortgage, Real Estate Agents|Tags: |

Misconceptions Among Potential Homeowners About What It Takes to Buy a Home

The Fed left rates alone this week which was good news for the financial markets. It was not the best news for mortgage rates, but it wasn't the worst either. A drop would have been nice, but not moving isn't expected to have much impact on mortgage rates, which remained pretty much flat for the [...]

By |2020-01-16T10:48:06-05:00June 21st, 2019|Categories: Mortgage, Real Estate Agents|Tags: |

Mortgage Rates Are Low and Credit Is There — So, What’s Up?

Mortgage rates are down and it appears homeowners have caught on and the industry is enjoying a refi boom. Mortgage refinance applications were up about 45% from the prior week. Lower rates, though, don't seem to be creating significant numbers of potential homebuyers. Applications to purchase a home were up — but only by about [...]

By |2020-01-16T10:53:29-05:00June 14th, 2019|Categories: Mortgage, Real Estate Agents|Tags: |