The average interest rate on the most popular U.S. home loan climbed to its highest level since October 2008, Mortgage Bankers Association (MBA) data showed on Wednesday.
Newsfeed: U.S. mortgage interest rates reach 6.25%, highest level since October 2008 Read More »
Bank of America this week announced that it will be launching a mortgage option for first-time home buyers offering no down payments, no closing costs and no minimum credit score.
Newsfeed: Mortgage demand falls even further, as rates shoot back up to July highs Read More »
One month after we reported that home prices finally dropped for the first time in year, an observation echoed yesterday by Black Knight which also found that home prices had fallen for the first time in 3 years last month – in the biggest decline since 2011 – we knew the other shoe in the ongoing housing crash was set to drop any minute.
The US mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that’s coming could be the worst since the housing bubble burst about 15 years ago.
Newsfeed: US Mortgage Lenders Are Starting to Go Broke Read More »
The US mortgage industry could be on the cusp of a bust cycle as the Federal Reserve’s most aggressive interest rate hikes in decades have sent mortgage loan application volume crashing.
Newsfeed: Private Mortgage Lender Bust Begins As Loan Applications Crash Read More »
Even with oil prices now around $95, and commodities across the board dropping amid bearish economic prospects, a lineup of analysts still see another bull run by year’s end.
Newsfeed: Wall Street Sees Another Big Commodities Rally In 2022 Read More »
More than two years after the virus pandemic upended the world of work, signs of distress in commercial real estate markets are emerging. The world is transitioning from an artificial landscape of ultra-accommodative monetary and fiscal stimuli that inflated returns to an environment where the federal government and the Federal Reserve tighten financial conditions.
Newsfeed: Office Space Market Faces “Economic Downturn” Due To Perfect Storm Of Factors Read More »
Rising mortgage rates and inflation in the wider economy caused housing demand to drop sharply in June, forcing home prices to cool down.
Newsfeed: Home prices cooled at a record pace in June, according to housing data firm Read More »
Existing home sales showed a 5.4% decline in June from May, but prices remain elevated, according to the National Association of Realtors. The median sale price of existing homes in the U.S. set a new record high of $416,000 in June, marking a 13.4% increase from a year ago.
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower.
Newsfeed: Mortgage rates fall sharply after negative GDP report and Fed’s latest hike Read More »