Mortgages

The housing market, still in its relentless rough patch as mortgage rates continue to climb higher, is deterring buyers from making a move. What Happened: Mortgage applications for purchasing a home plummeted by 6% last week compared to the previous week, falling for the third straight week,...

As mortgages continued to moderate, potential home buyers were flocking to the opportunity to secure a lower interest rate, Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey data showed. What Happened: The Market Composite Index — a measure of mortgage loan...

Mortgage rates dropped significantly last week as a result of U.S. Bureau of Labor Statistics statistics that showed inflation had slowed in October, which is a boon for potential home buyers. According to Freddie Mac, the 30-year fixed rate average dropped by 47 basis points, from 7.08%...

As the U.S. economy’s real gross domestic product rebounded by 2.6% (seasonally adjusted annual rate) in the third quarter, consumer spending was moderately unchanged as the personal consumption expenditures (PCE) index increased by 0.6% to $113 billion in September.  This is...

Last month, fewer new homes were sold as a result of increased mortgage rates that have turned off some prospective buyers. According to joint data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly built homes decreased 10.9% from August and were...

Mortgage rates tend to rise when the Federal Reserve increases the Fed Funds rate. It has a gradual trickling effect, though. Because of the fed funds rate's relationship to the 10-year treasury yield, mortgage rates would continue gradually increase even if Fed Chair Jerome Powell and the...

The average rate on 30-year mortgages rose from 6.66% the previous week to 6.92% this week, Freddie Mac data showed on Thursday. It marks the highest reading for mortgage rates since 2002 and further indicates  the rate depression that followed the Great Recession has come to an end...

According to data from the Mortgage Bankers Association (MBA) issued on Wednesday, mortgage rates hit a 16-year high last week, significantly reducing demand among home purchasers. In the final week of September, the 30-year fixed mortgage rate increased to 6.75%, the highest level since 2006....

As mortgage rates topped 6%, for the first time since the 2008 financial crisis, new home buyers are being squeezed on multiple fronts since elevated home prices, interest rates, and rising inflation are adding to everyone's bottom line. With the bond market pricing in the Fed hiking...

What else do active traders and investors care about most besides their families and the markets? Sports!  The listeners of Wednesday’s PreMarket Prep show were treated to insightful commentary on the future course of interest rates as well as the rapidly rising industry of sports...

Jerry Howard, National Association of Home Builders (NAHB) CEO, has plenty of experience in the housing industry. Prior to joining NAHB, Jerry served as the Chief Lobbyist for the National Council of State Housing Agencies. For over a quarter of a century, Jerry has been analyzing the housing...

You might feel like 2022 hasn’t been the best year. Inflation rates are at an all-time high, President Joe Biden’s approval rating is at an all-time low, an everything recession feels inevitable — the list goes on. Seemingly the only thing providing some humor in news cycles are...

Rocket Companies Inc (NYSE: RKT) announced its second-quarter financial results after the close. Here's a rundown of the results. What Happened: Rocket Companies reported second-quarter revenue of $1.392 billion, which was down from $2.668 billion year-over-year. The revenue number...

For the first time since April, purchase mortgage rates dropped below the 5% level, reflecting the Federal Reserve’s monetary policy that has led the U.S economy to a “technical recession.” Bond yields increase and prices decline when demand declines. Mortgage rates typically...

Between June 10 and 17, 11 publicly traded mortgage companies saw their market value decline by a combined $6.14 billion. According to a HousingWire examination of stock data, corporate valuations were reduced 17.4% to $29 billion as investors abandoned the sector. The list of those businesses is...