Mortgage rates continue to ease despite inflation worries

Markets concur with the view that inflation increases are temporary, according to a Freddie Mac economist. Mortgage rates continue to ease despite worries that the Federal Reserve will eventually have to take measures to fight inflation, with rates on 30-year fixed-rate mortgages continuing to inch further below 3 percent. Sam Khater | Photo credit: Freddie … Read more

Fed will keep buying mortgage bonds — for now

Tapering could happen sooner rather than later, with most policymakers open to short-term rate hikes in 2023. Policymakers at the Federal Reserve on Wednesday restated their commitment to keeping a lid on long-term interest rates, saying they’ll continue buying $80 billion in long-term Treasurys and $40 billion in mortgage-backed securities each month “until substantial further … Read more

Summer market will be hot, but not scorching, economists say at Inman Connect

Day 2 of Inman Connect is underway with an all-star lineup, including Opendoor’s Eric Wu, Keller Williams’ Wendy Papasan, and many more. Register now to watch the rest of the day today and tomorrow live, and catch up on what you missed on-demand. This year’s real estate market has been roaring so far, which has many industry … Read more

Demand for mortgages rebounds after 3 weeks of declines: MBA

Demand for mortgages bounced back last week after three weeks of declines, with applications for both purchase loans and refinancing climbing as mortgage rates retreated to the lowest levels since early May. The Mortgage Bankers Association’s Weekly Mortgage Applications Survey showed demand for purchase loans growing by a seasonally-adjusted 2 percent week over week, while … Read more

Homeowners are losing their enthusiasm for refinancing

Mortgage lenders faced a double-whammy in May, with demand for both purchase loans and refinancing falling despite the fact that mortgage rates came back down after surging in February in March. Mortgage lenders faced a double-whammy in May, with demand for both purchase loans and refinancing falling despite the fact that mortgage rates came back … Read more

Mortgage rates stable heading into next week’s Fed meeting

Mortgage rates were stable this week as the Federal Reserve prepares for a meeting next week where the latest inflation numbers and a potential tapering of the Fed’s mortgage bond purchases are likely to be on the agenda. For the week ending June 10, Freddie Mac’s weekly Primary Mortgage Market Survey reported average rates for … Read more

Mortgage applications slump as demand for refinancing wanes

Demand for mortgages slipped last week as requests to refinance slowed, outweighing the impact of a slight increase in purchase loan applications. For the week ending June 4, the Mortgage Bankers Association’s Weekly Mortgage Applications Survey showed requests for all types of mortgages falling by a seasonally adjusted 3.1 percent from the week before, and … Read more

New, pending, existing: What you should know about today’s market

If you’re involved in the housing market, and I assume that most of you are, you know very well that this is a numbers business. All of us are surrounded by housing-related data day in and day out, and it can become a little overwhelming at times — even for an economist like myself. Well, … Read more

Demand for mortgages lowest since before the pandemic

After adjusting for seasonal patterns, requests for purchase loans were down 3 percent from the week before and 2 percent from a year ago. Demand for mortgages dropped during the last week of May to levels not seen since before the pandemic, according to the latest data from the Mortgage Bankers Association’s Weekly Mortgage Applications … Read more

Mortgage rates retreat from 3% threshold

Mortgage rates retreated this week, even as support builds at the Federal Reserve to begin discussions on when to taper bond purchases that have kept a lid on long-term interest rates. Mortgage rates retreated this week, even as support builds at the Federal Reserve to begin discussions on when to taper bond purchases that have … Read more

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