Mortgages

Mortgage rates continue to climb in the U.S., reaching levels not seen in decades. The latest weekly report from the Mortgage Bankers Association of America (MBA) sent fresh shockwaves through the housing industry, revealing that the average contract interest rate for 30-year fixed-rate mortgages...

The average 30-year mortgage rate skyrocketed to 8% on Wednesday, as indicated by a survey conducted by Mortgage News Daily. This surge was driven by the 30-year Treasury bond yield, which climbed above 5%, reaching its highest point in 17 years. On the same day, the Mortgage Banker Association (...

UWM Holdings Corp. (NYSE: UWMC) CEO Matt Ishbia sat down and spoke with CNBC's Morgan Brennan about the real estate market in an interview on Monday. Ishbia argued that while rates are high it is a good time to buy a house since buyers will face increased prices if they wait for...

What Happened: On Wednesday, economist Mohamed El-Erian took to X, formerly Twitter, to discuss the recent rise in US 10-year government bond yields, which he noted are now “flirting with the 4.50% level.” He indicated that the increase in bond yields is influencing the fixed-income...

The siren song of homeownership has hit a sour note for many prospective buyers. The nationwide median home-sale price has surged to an eye-watering $380,000, according to a Thursday Redfin Corp (NASDAQ:RDFN) report, reflecting a 5% year-over-year increase — the most substantial uptick in almost a...

The U.S. housing market is facing a seismic shock. Mortgage rates skyrocket to levels not seen in over two decades. The average contract interest rate for 30-year fixed-rate mortgages has surged by 15 basis points (bps). The rates reached a staggering 7.31% for the week ending Aug. 18. This marks...

The U.S. housing market is grappling with its worst affordability crisis in nearly 40 years. Mortgage rates have surged to a level unseen since April 2002, with the average rate for a 30-year fixed loan now standing at 7.09%, a significant rise from 6.96% just a week ago, as Freddie Mac reported...

When the Federal Reserve began raising interest rates last year, many economists worried about a steep economic downturn and subsequent hit to the housing market. The economy held up surprisingly well, outperforming all expectations. But, now it appears that 40-year-high mortgage...

The U.S. housing market delivered some head-turning statistics this month. On one end, mortgage rates skyrocketed to a level not seen since 2000. On the other, delinquencies have plummeted to their lowest point since the late 1970s.What's Going On? U.S. 30-Year fixed-rate mortgage surged to 7.46%...

Jerome Powell said the FED’s forecasts have been wrong on inflation the last 2 years. Now he’s saying rate cuts aren’t going to happen for another couple years. Can we really depend on these projections anymore? Market Prices as of 4 pm EST, 6/14/23 Macro Mortgage demand picked...

Home mortgage lending in the U.S. fell to a more than 20-year low in the first quarter, according to a report released Thursday by real estate data provider ATTOM. ATTOM’s first-quarter 2023 U.S. Residential Property Mortgage Origination Report shows that 1.25 million mortgages secured by...

In a twist to the long-standing belief that buying a home is more financially savvy than renting, a recent study from Redfin Corp (NASDAQ:RDFN) tells a different story. What Happened: Today, in all but four major U.S. metros, it is notably more costly to buy a home than to rent one. Among the 50...

Home prices in the U.S. saw an increase in February for the first time in seven months, according to Black Knight's latest Mortgage Monitor Report. What Happened: Price rises seen on both non-adjusted and seasonally adjusted bases can be attributed to a combination of a slight easing of...

As the Twitter handle of the “Kobeissi Letter” discussed the ramification of the banking crisis, Tesla CEO Elon Musk highlighted a serious crisis waiting in the wings. What Happened: More than $2.5 trillion in commercial real-estate debt is set to mature over the next five years, the...

Amidst the never-ending flurry of media coverage surrounding high-growth tech stocks, are investors overlooking a critical issue? Despite the obsession with tech, regional bank stocks are languishing and are being overlooked by investors, and it's not because of the recent bust of Silvergate...