Mortgage News and Rate Updates

Mortgage Weekly Update

Mortgage Activity Jumps as Rates Hit Another Low

By Aly Yale / August 13, 2020
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Mortgage activity is surging once again, with overall applications up 6.8% from last week. According to the latest data from the Mortgage Bankers Association, purchases were up 2% over the week, while refinances jumped 9% — marking their 12th-straight weekly…

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Mortgage Weekly Update

Mortgage Rates Drop, Applications Fall in Step

By Aly Yale / August 7, 2020
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Mortgage rates dropped again this week, but so did overall application activity. According to the latest data from the Mortgage Bankers Association, despite an average interest rate of just 3.14%, loan applications dropped 5.1% over the last week.  Refinance activity…

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Mortgage Weekly Update

Mortgage Apps Fall Thanks to Rising FHA Loan Rates

By Aly Yale / July 31, 2020
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Mortgage activity slipped slightly this week, dropping 0.8% from last week. Refinancing applications decreased by 0.4%, while purchase loan applications fell 2%. Both rates remained higher than last year (up 121% and 21%, respectively). According to Mike Fratantoni, senior vice…

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Mortgage Weekly Update

Mortgage Activity Jumps Despite Slight Jump in Rates

By Aly Yale / July 24, 2020
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Mortgage applications jumped this week, increasing 4% across the board. Refinancing activity was up 5%, while purchase loan applications rose 2%. Both saw notable increases over this time last year (jumping 19% and 122%, respectively).  The increase comes despite a…

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Sold sign on an house for sale

Homes Are Selling Like Hotcakes; Here’s How to Not Lose Out on That Dream Home

By Aly Yale / July 23, 2020
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Houses are selling at their fastest pace in two years, according to Zillow, with the average home going under contract in just 19 days.  The speed is thanks largely to a shortage of housing inventory across the country — one…

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House keys with a flag patch next to it

What Are the Benefits of VA Loans?

By Aly Yale / July 22, 2020
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It doesn’t get better than a Veterans Administration (VA) mortgage — if you can qualify for one. Reserved for military members, veterans, and their spouses, these mortgages come with serious benefits. Are you or your spouse a military member or…

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Mortgage Weekly Update

Mortgage Rates Reach New Low, Applications Rise

By Aly Yale / July 17, 2020
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Overall mortgage activity jumped last week, with total applications rising 5% over the previous week. Refinance applications were up 12% (107% for the year), while purchase loan activity actually fell 6%. Despite the drop, according to Joel Kan, associate vice…

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Mortgage Weekly Update

Rates Hit New Low, While Mortgage Activity Stalls Out

By Aly Yale / July 3, 2020
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Mortgage activity dropped again, this time falling 1.8% over the week. Refinance applications were down 2%, while applications to purchase a home fell 1%. On both counts, activity is still much higher than one year ago. According to Joel Kan,…

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Couple with a sign showing their first home

Home Buying Demand Is Up: Here’s Why Sellers Should Act Now

By Aly Yale / July 1, 2020
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Despite all that’s going on in the country and its economy, home buying demand is surging. In fact, according to the Mortgage Bankers Association, applications to purchase a home are now up 18% over the year. Home showing traffic has…

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Mortgage Weekly Update

Mortgage Activity Drops, While Rates Hold Steady

By Aly Yale / June 26, 2020
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Overall mortgage activity slid this week, with refinances dropping 12% and purchase loan applications dipping 3%. It was the first time purchase activity declined in months. Compared to last year, though, the market is still going strong. Purchases are up…

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