Delinquency rates keep dropping, remain at record lows
After a slight uptick the previous month, nationwide delinquency rates have fallen to the lowest level since June 2000 After a slight uptick in the previous month, nationwide delinquency rates in December fell to the lowest level for the past 20 years. Across the...
Mortgage refinance applications spike 79% as homeowners rush to take advantage of lower rates
Another major drop in mortgage rates caused a massive jump in borrowers applying to refinance their home loans. The surge sent total mortgage application volume up 55.4% last week from the previous week, according to the Mortgage Bankers Association’s seasonally...
U.S. home values rise to record $29.2 trillion, Fed says
The gain of 4.2% from a year earlier was the slowest annualized increase since 2012 The value of all U.S. owner-occupied homes increased to a record $29.2 trillion in the third quarter, according to a Federal Reserve report known as the Flow of Funds. That was a gain...
Report: First-Time Buyer Market Shows Signs of Rebounding
More first-time buyers emerged on the market in the third quarter—a modest rise, but one that economists are still upbeat about. First-time buyers purchased 591,000 homes in the third quarter, a year-over-year increase of 1%, Genworth Mortgage Insurance reports....
Fed holds steady, signals no interest rate changes through 2020
Chairman Powell says “trade developments” pose risk to the economy The Federal Reserve left its benchmark rate unchanged on Wednesday and signaled it plans to hold steady through 2020, barring unexpected economic news. All the members of the Federal Open Market...
Mortgage rates start 2020 well below last year’s average
The average U.S. fixed rate for 30-year mortgage slides to 3.72% In the first week of the year, the average U.S. fixed rate for a 30-year mortgage averaged 3.72%. Not only is this percentage below the previous week’s average, but it’s also nearly 80 basis points below...
Report: First-Time Buyer Market Shows Signs of Rebounding
More first-time buyers emerged on the market in the third quarter—a modest rise, but one that economists are still upbeat about. First-time buyers purchased 591,000 homes in the third quarter, a year-over-year increase of 1%, Genworth Mortgage Insurance reports....
Fed holds steady, signals no interest rate changes through 2020
Chairman Powell says “trade developments” pose risk to the economy The Federal Reserve left its benchmark rate unchanged on Wednesday and signaled it plans to hold steady through 2020, barring unexpected economic news. All the members of the Federal Open Market...
Freddie Mac December Forecast: Optimism Heading into 2020
MCLEAN, Va., Dec. 23, 2019 (GLOBE NEWSWIRE) -- According to Freddie Mac’s (FMCC) December Forecast, the housing market will continue to stand firm as home sales increase from 6.0 million in 2019 to 6.2 million in 2020 and, to 6.3 million in 2021. “A more accommodative...
Fannie’s Housing Forecast Expects Silver Lining for Dreary New Home Sales and the Economy
Fannie Mae substantially revised its housing forecast this month, especially as regards new home construction. The company's Economic and Strategic Research (ESR) Group said it based its upward revision on "the breadth of positive economic signals," including the...