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Articles Recently Tagged: Mortgages

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Pending Home Sales Slip Despite an Uptick in Inventory

Pending Home Sales Slip Despite an Uptick in Inventory

Having rebounded in May, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity dropped 1.9 percent in June to 112.8 and is down 1.9 percent on a year-over-year basis, a move which shouldn’t catch any plugged-in... Read More »

15-Year Mortgage Rate Drops to a New All-Time Low

15-Year Mortgage Rate Drops to a New All-Time Low

While the average rate for a benchmark 30-year mortgage inched up 2 basis points (0.02 percentage points) over the past week to 2.80 percent, it remains 19 basis pointsd below its mark at the same time last year and within 15 basis points of its all-time low rate of... Read More »

Mortgage Loan Application Volume in the U.S. Increases, But…

Mortgage loan application volume in the U.S. ticked up 6 percent over the past week, according to the Mortgage Bankers Association. But with the benchmark 30-year mortgage rate back under 3 percent and nearing its all-time low, the uptick was driven by applications to refinance. And in fact, while... Read More »

Pace and Price of Existing Home Sales in the U.S. Tick Up, But…

Pace and Price of Existing Home Sales in the U.S. Tick Up, But…

Having dropped to an 11-month low in May, the seasonally adjusted pace of existing-home sales across the U.S. ticked up 1.4 percent in June to an annual rate of 5.86 million sales, which was 22.9 percent higher than in June of last year, when pandemic-driven stay home orders were... Read More »

Benchmark Mortgage Rate Drops, Nearing an All-Time Low

Benchmark Mortgage Rate Drops, Nearing an All-Time Low

Having inched down to a five-month low last week, the average rate for a benchmark 30-year mortgage has since dropped another 10 basis points (0.10 percentage points) to 2.78 percent, which is 23 basis below its mark at the same time last year and within 13 basis points of... Read More »

Mortgage Loan Activity Down 18 Percent, Year-Over-Year

While the number of homes for sale across the U.S. has ticked up, and the average 30-year rate is back under 3 percent, mortgage loan application volumes ticked down 4 percent on a seasonally adjusted basis over the past week. In fact, application volumes are now down 18 percent... Read More »

Benchmark Mortgage Rate Drops to a Five-Month Low [UPDATED]

Benchmark Mortgage Rate Drops to a Five-Month Low [UPDATED]

Having inched back over 3 percent two weeks ago to a two-month high, the average rate for a benchmark 30-year mortgage has since dropped 12 basis points (0.12 percentage points) to 2.90 percent, which is 13 basis lower than at the same time last year, within 25 basis points... Read More »

Purchase Loan Activity in the U.S. Drops, Down 17 Percent YOY

Mortgage loan application volumes in the U.S. dropped 7 percent over the past week, including a 6 percent drop in purchase mortgage activity, which was down 17 percent on a year-over-year basis, according to the Mortgage Bankers Association. And with refinancing activity having dropped 8 percent over the past... Read More »

Pending Home Sales Rebounded 8 Percent in May, But…

Pending Home Sales Rebounded 8 Percent in May, But…

Having dropped 4.4 percent in April to 106.2, the National Association of Realtors Pending Home Sales Index, a seasonally adjusted index for which 100 denotes “an average level” of activity, rebounded 8.0 percent in May to 114.7, which was 13.1 percent higher than at the same time last year... Read More »

Benchmark Mortgage Rate Inches Back Over 3 Percent

Benchmark Mortgage Rate Inches Back Over 3 Percent

The average rate for a benchmark 30-year mortgage has inched up 9 basis points (0.09 percentage points) over the past week to 3.02 percent, which is the highest average rate in two months but still 11 basis points lower than at the same time last year and around half... Read More »