Today: 21. Nov, 2024
Mortgage demand took a hit as interest rates sharply rose, causing both homebuyers and homeowners to hesitate. According to the Mortgage Bankers Association’s seasonally adjusted index, the total mortgage application volume fell 5.1% last week compared to the previous week, reflecting the…
Prepare for Lower Rates with Smart Financial Decisions Last week, Federal Reserve Chair Jerome Powell hinted at an upcoming interest rate cut, marking a significant shift in economic policy. “The time has come for policy to adjust,” Powell stated during the Jackson…
Home equity has surged to near-record levels, presenting homeowners with significant financial potential. However, tapping into this wealth is becoming increasingly challenging due to rising interest rates. Financial advisors provide insight into how homeowners can navigate these high costs to leverage their…
The 30-year fixed-rate mortgage is a distinctly American phenomenon in the global housing market landscape, shaping how U.S. homebuyers finance their homes. According to Greg McBride, chief financial analyst at Bankrate, “The 30-year fixed-rate mortgage is a uniquely American construct,” highlighting its…
In a recent development that has caught the attention of potential homeowners and real estate analysts alike, mortgage rates have experienced a slight decline, falling just below the 7% mark. This rate adjustment has sparked a notable surge in mortgage demand, marking…
In recent events, the housing market has witnessed a significant downturn in mortgage demand, mainly attributed to the spike in interest rates. According to the Mortgage Bankers Association’s seasonally adjusted index, there was a noticeable 5.6% drop in total mortgage application volume…
The world of mortgages witnessed a surprising turn last week. The adjustable-rate mortgage (ARM), a mortgage whose interest rate is periodically adjusted based on specific indices, saw a spike in demand. This move was in direct contrast to the fixed mortgage rates,…
In a surprising turn of events, the demand for mortgages has dropped to its lowest point since 1996, primarily driven by the steep rise in interest rates. As they edge closer to the 8% mark, potential homebuyers and current homeowners looking to…
Even though mortgage rates stayed constant last week, they remain close to a recent peak. The ongoing escalation in house prices has led potential homeowners to step back. The Mortgage Bankers Association’s seasonally adjusted index showed a 1.8% decline in overall mortgage…
While the 30-year fixed mortgage, the most common form, saw a rate reduction for the third consecutive week, there was little change in the overall mortgage demand. The Mortgage Bankers Association’s seasonally adjusted index indicated a slight increase in total mortgage application…
