Buyers are Borrowing/Paying Less for Homes
Mortgage loan application volume to finance the purchase of a home in the U.S. was only 41 percent lower on a year-over-year basis last week versus 46 percent lower the…
Benchmark Mortgage Rate Drops, But…
Buoyed by a slowdown in the pace of inflation, the average rate for a benchmark 30-year mortgage dropped 47 basis points over the past week to 6.61 percent but is…
Benchmark Mortgage Rate Ticks Back Over 7 Percent
While the average rate for a benchmark 30-year mortgage had slipped back under 7 percent last week, said average had been compiled prior to last week’s rate hike by the…
Mortgage Application Volume Plummets
With the benchmark 30-year mortgage rate nearing a 20-year high, mortgage loan application volume plummeted over 14 percent last week, with a 13 percent drop in applications to purchase a…
30-Year Rate Inches Down, 5-Year ARMs Hit a 12-Year High
Having hit 5.30 percent two weeks ago, representing a 670-week high, the average rate for a conforming 30-year mortgage has since ticked down 20 basis points (0.2 percentage points) to…
Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High
As we noted last week, “the yield on the 10-year treasury inched up around 3 basis points since the Fed’s announcement, indicating the near-certain hike was already priced-in and should…
Mortgage Applications Tick Up, ARM Share Nearly Triples
Mortgage loan application volume across the U.S. ticked up 2.0 percent over the past week on a seasonally adjusted basis and 3.0 percent in the absolute, according to data from…
Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade
The average rate for a benchmark 30-year mortgage jumped another 28 basis points (0.28 percentage points) over the past week to 5.00 percent, which is 196 basis points and over…
Playing Chicken With A Five Year Arm (It’s Not Just About Rates)
While Chicken John Rinaldi’s Chez Poulet has been on the market for two months at $899,000, on Monday Laughing Squid added a bit of color with a quote from John…
We’re Raising The “Bubble Alert” Level To Yellow
We’re wishing we hadn’t already used-up our “An ARM (And Quite Possibly A Leg)” headline. Considering how alarmed we’ve been with the explosion of ARM financing, we’re down right terrified…