Mortgage

Another record low interest rate on the 30-year fixed mortgage last week did not help drag homebuyers out of their recent slump.Declining demand from buyers caused mortgage application volume to fall 0.5% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.  Mortgage applications to purchase a home fell… More

People walk into a house for sale in Floral Park, Nassau County, New York, the United States, on Sept. 6, 2020.Wang Ying | Xinhua News Agency | Getty ImagesBorrowers are clearly used to hearing that mortgage rates set another record low because last week’s dip did nothing to spur mortgage demand.The volume of applications for… More

An ‘Open House’ sign is displayed as potential home buyers arrive at a property for sale in Columbus, Ohio.Ty Wright | Bloomberg | Getty ImagesMortgage rates moved even lower last week after setting multiple record lows in recent months, spurring more borrowers to call their lenders and apply for a refinance, but homebuyers were not… More

People wait to visit a house for sale in Floral Park, Nassau County, New York.Wang Ying | Xinhua News Agency | Getty ImagesAfter a brief lull to start the month, mortgage demand surged ahead yet again — even with the highest interest rates in several weeks.Total mortgage application volume increased 6.8% last week from the… More

A real estate agent shows a home to a prospective buyer in Miami.Getty ImagesThe end of August usually marks the beginning of the slow season for housing, but as with everything else, this year’s trends are like no other.Mortgage applications to purchase a home rose 3% last week from the previous week and were a… More

After holding flat for a couple of weeks, the number of borrowers in public and private coronavirus-related mortgage bailout programs saw a much bigger improvement than expected. Most still in getting aide, however, have extended their terms, suggesting they are still unable to get current on their home loans. The number of mortgages in active forbearance… More

A sudden turnaround from record low interest rates last week caused a pullback in mortgage refinance demand.That pulled total mortgage application volume down 3.3% from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased rather abruptly… More