Loan applications saw their fifth straight weekly gain, buoyed by government-sponsored activity and renewed borrower interest in refinances amid falling interest rates, according to the Mortgage Bankers Association.? The MBA’s Market Composite Index, which tracks loan-application activity based on surveys ...
The Federal Reserve held interest rates steady for a third meeting and gave its clearest signal yet that its aggressive hiking campaign is finished by forecasting a series of cuts next year. RELATED: Mortgage rates drop closer to 7% Officials ...
For the first time since late summer, the 30-year fixed rate mortgage average is below 7% and given that the benchmark 10-year Treasury yield continues to drop significantly after the Federal Open Market Committee meeting, it is likely to keep ...
Mortgage rates fell to their lowest mark since August, hovering just above the 7% mark, according to the latest data from Freddie Mac.? The 30-year fixed rate came in at an average of 7.03% for the period ending Dec. 7 ...
Fannie Mae is holding to its forecast of a modest economic downturn in 2024, in spite of statements by the Federal Reserve that a soft lending is achievable, and inflation is on its way down to the 2% target. Many ...
U.S. new-home construction unexpectedly surged in November to a six-month high, benefiting from a dearth of existing houses on the market and suggesting the crunch in residential real estate is easing. Residential starts increased 14.8% last month to a 1.56 ...
Sales of previously owned homes unexpectedly rose in November, led by a pickup in the South and representing a respite in a two-year downturn caused by higher borrowing costs and a lack of inventory. Contract closings increased 0.8% from a ...
Whereas common mortgage charges elevated by a single foundation level this week, they need to transfer decrease going ahead in 2024 as inflation cools and the Federal Reserve reverses course, Freddie Mac stated. The Main Mortgage Market Survey put the ...
Mortgage charges elevated 9 foundation factors this week, however have remained in the identical vary since mid-December, which portends properly for the spring dwelling promoting season, Freddie Mac reported. The federal government-sponsored enterprise’s Main Mortgage Market Survey discovered the typical ...
Shopper spending is part of the explanation why Fannie Mae flipped its forecast to development, however at a slower tempo than regular, from a recession, its economists defined in a gathering with Nationwide Mortgage Information. The January outlook now requires ...