Mortgage News and Rate Updates
Rates Hit New Low as Refis Jump Once Again
Mortgage rates hit another record low this week, and it sent refinances surging. According to the latest report from the Mortgage Bankers Association, refinance applications jumped 5% and are now 79% higher than a year ago. Purchase loan applications were…
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5 Tips for First-Time Sellers
There are plenty of tips to be found for first-time homebuyers, but what about for first-time sellers? In an effort to bridge the information gap, we’ve provided five tips for first-time sellers below. Read them over so that you have…
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Debt Consolidation: Mortgage Refinance Options and FAQs About Refinancing to Consolidate Debt
Many homeowners refinance their mortgages to lower their interest rates or reduce their monthly payments. Others refinance in order to tap into the equity they’ve built and turn that equity into cash they can use. Another option that has been…
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Purchase Activity Jumps Despite Slight Rate Uptick
Mortgage applications slipped again this week, though only slightly. According to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association, mortgage activity decreased 0.3% over the past week. Refinances were down 2%, and purchase loans rose 4%. Both…
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Buying a House in a Vacation Town? Read This First
Interest in vacation-area real estate is picking up. According to a report from Zillow, pending sales in well-known vacation markets are up 30% over last year. Whether that’s due to more remote work arrangements, desire for a change of scenery,…
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Rates Hit Another Low, But Mortgage Applications Drop
Despite mortgage rates reaching yet another all-time low last week, demand for mortgage loans is waning. According to the most recent survey from the Mortgage Bankers Association, overall mortgage applications decreased 0.5% for the week. It’s the sixth time in…
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Mortgage Rates Hit New Low, While Average Loan Amount Tops Out
Mortgage applications rose this week, increasing nearly 2% from the week prior. Both purchase loan and refinance activity jumped, with refinances rising 3%. Applications to refinance a home are now 80% higher than one year ago. The surge is likely…
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How Long Should You Keep Your Mortgage Docs?
A lot of people are cleaning house these days. They’re emptying out closets, clearing out the garage, and throwing out old paperwork they no longer need. It’s a smart move — especially if you have time on your hands. But…
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Mortgage Applications Drop as Interest Rates Rise
Overall mortgage activity slipped this week, falling 0.6% over the week prior. Purchase loan applications fell 2%, while refinancing actually rose, though only a slight 0.2%. The drop is likely due to rising mortgage rates, which increased to 3.02% this…
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Mortgage Activity Holds Steady, While Government Lending Picks Up
Mortgage applications technically dipped last week, but only by a mere 0.7%. Purchase loans fell 2% on their own, while refinance activity dropped just 0.3%. Considering the rate on 30-year, fixed-rate loans dropped to a new low, according to the…
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