Update

Mortgages Rates Increase Slightly; Lending Sees its Biggest Quarter in 14 Years

Mortgage rates inched up slightly this week, but they still hover around historic lows. According to the Mortgage Bankers Association (MBA), the average rate on a 30-year, fixed-rate loan came in at 3.72% this week — up from 3.71% last week.  As a result of the low rates, overall mortgage activity was up 3% for [...]

By |2020-02-13T14:21:35-05:00February 13th, 2020|Categories: Financial Advisors, Mortgage, Real Estate Agents|Tags: |

Rates Hit Lowest Point Since 2016, Sending Refi Apps Soaring

Refinances hit their highest point since 2013 this week, surging 15% over last week and a whopping 183% over this time last year. Overall, refinancing applications accounted for nearly 65% of all mortgage activity in the country. The uptick was likely driven by the week’s low rates, which saw 30-year, fixed-rate loans average 3.71% [...]

By |2020-02-06T08:55:06-05:00February 7th, 2020|Categories: Financial Advisors, Real Estate Agents|Tags: |

Mortgage Rates Hit Three-Year Low Amid Coronavirus Concerns

The big news this week is the coronavirus outbreak, which has now spread to residents in Australia, Canada, Germany, France, and of course, the U.S.  Though the outbreak itself is no good omen, it has certainly had a positive impact on mortgage rates. According to the latest data from the Mortgage Bankers Association, the [...]

By |2020-01-29T13:36:38-05:00January 31st, 2020|Categories: Real Estate Agents|Tags: |

Mortgage Apps Decline, While Rates Hold Steady Near Historic Lows

Things eased off a bit after the mortgage market’s strong start to 2020. According to the Mortgage Bankers Association, total mortgage applications dipped a bit last week, decreasing 1.2% over last week. Both refinance and purchase applications dropped 2% over the previous week. Still, refinance activity was up 116% over the year, while purchase [...]

By |2020-01-23T13:52:22-05:00January 24th, 2020|Categories: Real Estate Agents|Tags: |

Refinancing, Purchase Loans Surge as Mortgage Rates Dip

It seems 2020 is starting off strong in the mortgage world. According to the latest data from the Mortgage Bankers Association, mortgage loan applications were up a whopping 30.2% over last week, while mortgage rates hit their lowest point since September. Refinancing saw the biggest surge, with refinance applications up 43% over the previous [...]

By |2020-01-17T10:51:06-05:00January 17th, 2020|Categories: Real Estate Agents|Tags: |

Mortgage Rates Drop, Refi Activity Falls in Step

Overall mortgage rates were down this week, according to the Mortgage Bankers Association (MBA), but that didn’t cause an uptick in applications. Despite the average 30-year interest rate falling to 3.91% last week (down from 3.95% and its lowest point since October), the MBA says applications for mortgage loans have fallen 22% over the [...]

By |2020-01-16T15:54:25-05:00January 10th, 2020|Categories: Real Estate Agents|Tags: |

Mortgage News You May Have Missed Over the Holidays

The holidays saw the usual slowdown in the mortgage industry, but demand is still strong compared to years prior. According to the Mortgage Bankers Association (MBA), we'll close out 2019 with purchase loans up 5% over the year and refinances up a whopping 128%. Mike Fratantoni, MBA's senior vice president and chief economist, believes [...]

By |2020-01-16T15:58:45-05:00January 3rd, 2020|Categories: Real Estate Agents|Tags: |

Housing Market Update for December 2019

With 2019 coming to a close, it's time to take a look at early fourth-quarter numbers and see what they might tell us about the new year ahead. Price and sales According to the National Association of REALTORS®, existing-home sales rose by 1.9% in October while the median price for a single-family home saw a [...]

By |2019-12-12T11:33:32-05:00December 13th, 2019|Categories: Mortgage, Real Estate Agents|Tags: |

Housing Market Update for September 2019

Interest rates are dropping, home price increases are slowing, and fear that a recession could be just around the corner are just some of the factors impacting the housing market and the US economy this September. The good news? Existing home sales rose by 1.3% in August. Sales rose in the northeast, the midwest, [...]

By |2020-01-16T11:17:07-05:00September 27th, 2019|Categories: Real Estate Agents|Tags: |