Dave Stevens discusses the psychology of this housing market and five things loan originators need to remember if they want to succeed now.
Despite a recent decline in mortgage rates, the housing market is still nowhere near normal and volume will remain low for the foreseeable future.
The US mortgage market continues to see improvement in application volume as interest rates declined for the third consecutive week. Mortgage applications rose 7% on a seasonally adjusted basis – up 1% when unadjusted – for the week ending January 20, according to the Mortgage Bankers Association. Refinance applications jumped 15% from the previous week, … [Read more…]
The average 30-year fixed-rate mortgage rate decreased to 6.33% this week, down 16 basis points compared to the previous week, according to the latest Freddie Mac survey.
It’s bad enough mortgage rates are over 7% â now it’s harder to qualify for a home loan CNBC
Mortgage rates are falling and builders are offering incentives to buyers, but that wasnât enough to prop up new home sales in 2022.Â
Affordability has improved in the mortgage market since December due to declines in mortgage rates and slower home price appreciation.
Mortgage rates rise back above 7% CNN
Despite the fact that mortgage rates are already in record territory, the Fed doesnât seem to be satisfied just yet. The Federal Reserve has played a part in pushing mortgage rates lower via a strategy known as âOperation Twist,â which is the method in which they replace their short-term debt holdings with long-term debt. That… Read More »More Good News for Mortgage Rates on the Horizon
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Mortgage rates are continuing to decline, which is bringing borrowers on the sidelines back to the market.