mortgage rates Archives

As a ‘higher-for-longer’ rate scenario unfolds, how is the mortgage industry adapting?

April 16, 2024 mpsingh No Comments Real estate 30-Year Fixed Mortgage, adapting, Featured Homepage, Federal Reserve, Freddie Mac, higherforlonger, HWmember, industry, inflation, Mortgage, mortgage rates, Mortgage Rates Center, Rate, scenario, unfolds

“We’re back in the land of 7%-plus mortgage rates,” Will Chang, Pennymac’s senior managing director and chief investment officer, said in an interview with HousingWire. “For better or worse, consumers are starting to realize that the days of 2% or 3% mortgages are well behind us and not going to be seen again for some [...]read moreAs a ‘higher-for-longer’ rate scenario unfolds, how is the mortgage industry adapting?

Low-rate mortgages are making a dent in job recruitment efforts

April 13, 2024 mpsingh No Comments Real estate Bloomberg, dent, Efforts, Job, Lowratemortgages, Making, mortgage rates, Recruitment

Job recruiters in the South are facing hurdles to attract skilled professionals from the Midwest despite offering competitive compensation packages, according to a Bloomberg report published Friday. That’s because many of these potential hires are locked into super-low 30-year mortgages. During the fourth quarter of 2023, the proportion of job seekers in the U.S. who [...]read moreLow-rate mortgages are making a dent in job recruitment efforts

CFPB report focuses on ‘discount points,’ but paints an incomplete picture

April 9, 2024 mpsingh No Comments Real estate CFPB, Consumer Financial Protection Bureau, discount, focuses, incomplete, mortgage rates, Paints, Picture, points, report, Rohit Chopra

The Consumer Financial Protection Bureau (CFPB) on Friday issued a report indicating that it is taking a closer look at the impact of “discount points” on mortgage transactions, noting that use of the practice has picked up over the past two years with undetermined value for mortgage borrowers. “The percentage of homebuyers paying discount points [...]read moreCFPB report focuses on ‘discount points,’ but paints an incomplete picture

Spring forecast: More inventory and rising home sales

April 2, 2024 mpsingh No Comments Real estate Altos Research, forecast, Home, Home Sales, Housing Inventory, Inventory, mortgage rates, Rising, sales, Spring

Pending sales Last week saw 69,000 new contracts for single-family home purchases across the country. There were another 15,000 condo sales started. That’s up 3% for the week and it’s a healthy 13% more sales than a year ago. That brings us to 367,000 single-family homes in the contract pending stage. That’s 7% more home [...]read moreSpring forecast: More inventory and rising home sales

Borrowers continue to be resilient as mortgage delinquencies recede

March 24, 2024 mpsingh No Comments Real estate Borrowers, continue.., Delinquencies, Foreclosure, Mortgage, mortgage rates, recede, Refinancing, resilient

Mortgage delinquencies improved again in February as prepayment activity increased moderately. The national delinquency rate eased to 3.34% in February, down from 3.38% in January, according to an Intercontinental Exchange (ICE) mortgage performance report released Thursday. February’s rate was also 11 basis points lower than it was a year ago. In February, serious delinquencies (loans [...]read moreBorrowers continue to be resilient as mortgage delinquencies recede