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Articles Recently Tagged: ARMs

(10 posts)

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 week before, according to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey data. At the same time, the median... Read More »

Benchmark Mortgage Rate Drops, But…

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 facing headwinds as the Fed is expected to continue raising rates over the next couple of quarters, likely by... Read More »

Benchmark Mortgage Rate Ticks Back Over 7 Percent

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 Fed. And while the majority of the latest rate hike appeared to have been priced-in to last week’s rates,... Read More »

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 home, both in the absolute and on a seasonally adjusted basis. And with last week’s plummeting, purchase mortgage application... Read More »

30-Year Rate Inches Down, 5-Year ARMs Hit a 12-Year High

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 5.10 percent. That being said, the current 30-year rate is still 215 basis points or over 70 percent higher... Read More »

Mortgage Rates Inch Up, 30-Year Rate Hits a 670-Week High

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 moderate any significant jumps in mortgage rates over the next week.” The average rate for a... Read More »

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 the Mortgage Bankers Association. That being said, application volumes to refinance were down 72 percent on a year-over-year basis... Read More »

Benchmark Mortgage Rate Hits 5%, First Time in Over a Decade

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 60 percent higher than at the same time last year, over two (2) full percentage points higher than in... Read More »

Playing Chicken With A Five Year Arm (It’s Not Just About Rates)

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 himself: I’m caught in the mortgage crisis by association. I took a 5 year arm mortgage with a balloon... Read More »

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 with the adoption of “option ARMs”. A couple of excerpts from today’s WSJ article “Sore ARMs? A Peek Inside... Read More »