Report: US mortgage lending activity drops at fastest rate in 8 years amid rising interest rates
Report: US mortgage lending activity drops at fastest rate in 8 years amid rising interest rates
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U.S. mortgage lending activity continued its descent in the first quarter of 2022.
U.S. mortgage lending activity continued its descent in the first quarter of 2022.
It's hard for Fannie Mae to not make money as the country's primary backstop of conventional loans. But net income was down amid turmoil in the mortgage market.
The post Fannie Mae income drops amid mortgage market troubles appeared first on HousingWire.
It's hard for Fannie Mae to not make money as the country's primary backstop of conventional loans. But net income was down amid turmoil in the mortgage market.
The post Fannie Mae income drops amid mortgage market troubles appeared first on HousingWire.
As mortgage rates tick up and home sales slow down, Raleigh's housing inventory has climbed out from the depths.
As mortgage rates tick up and home sales slow down, Raleigh's housing inventory has climbed out from the depths.
Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates, reports from MCT and Black Knight showed.
The post Mortgage rate locks tumble amid sharp rate rise appeared first on HousingWire.
Fewer buyers rushed to lock mortgages last month amid a rapid climb in long-term mortgage rates, reports from MCT and Black Knight showed.
The post Mortgage rate locks tumble amid sharp rate rise appeared first on HousingWire.
Mortgage application volume dropped 1.3% for the week ending on April 8, from the previous week, as mortgage rates eclipsed the 5% mark.
The post Mortgage applications continue fall amid 5% rate appeared first on HousingWire.
Mortgage application volume dropped 1.3% for the week ending on April 8, from the previous week, as mortgage rates eclipsed the 5% mark.
The post Mortgage applications continue fall amid 5% rate appeared first on HousingWire.
Purchase mortgage rates have risen faster in the last three months than at any time since May 1994. Freddie Mac said purchase rates this week averaged 4.72%, though another index found that rates overall eclipsed 5%.
The post Mortgage rates grow at fastest pace since 1994 appeared first on HousingWire.
Purchase mortgage rates have risen faster in the last three months than at any time since May 1994. Freddie Mac said purchase rates this week averaged 4.72%, though another index found that rates overall eclipsed 5%.
The post Mortgage rates grow at fastest pace since 1994 appeared first on HousingWire.
Mortgage loan rate locks fell on a month-to-month basis across all purposes in May and a big drop in cash-out credit scores offers an ominous sign of economic upheaval, a Black Knight report found.Total rate lock activity, an indicator of future mortgage originations, declined by 4.8% in May from April, likely resulting from volatility during the month, according to Black Knight's Market Volume Index. At one point, Black Knight's Optimal Blue unit tracked the 30-year fixed at over 5.5% during M...
Mortgage loan rate locks fell on a month-to-month basis across all purposes in May and a big drop in cash-out credit scores offers an ominous sign of economic upheaval, a Black Knight report found.Total rate lock activity, an indicator of future mortgage originations, declined by 4.8% in May from April, likely resulting from volatility during the month, according to Black Knight's Market Volume Index. At one point, Black Knight's Optimal Blue unit tracked the 30-year fixed at over 5.5% during M...
The mortgage industry’s 2022 slide in originations continued, with numbers falling last week to levels not seen since the Clinton administration, according to the Mortgage Bankers Association.The MBA’s Market Composite Index, a measure of mortgage activity based on surveys of association members, dropped a seasonally adjusted 6.5% for the weekly period ending June 3. The index also came in 55% lower compared to a year ago. Last week’s data included an adjustment for the Memorial Day holid...
The mortgage industry’s 2022 slide in originations continued, with numbers falling last week to levels not seen since the Clinton administration, according to the Mortgage Bankers Association.The MBA’s Market Composite Index, a measure of mortgage activity based on surveys of association members, dropped a seasonally adjusted 6.5% for the weekly period ending June 3. The index also came in 55% lower compared to a year ago. Last week’s data included an adjustment for the Memorial Day holid...
Mortgage demand remained relatively flat last week amid volatility in mortgage rates in recent weeks. The market index is down 62% compared to the same week in 2021.
The post Mortgage demand remains flat amid rate volatility appeared first on HousingWire.
Mortgage demand remained relatively flat last week amid volatility in mortgage rates in recent weeks. The market index is down 62% compared to the same week in 2021.
The post Mortgage demand remains flat amid rate volatility appeared first on HousingWire.
Contractors are continuing to hire as they operate at capacity, but a potential recession could impact the economy next year, said Anirban Basu, chief economist for Associated Builders and Contractors. “I think we’re headed for recession in 2023, and I do not believe it will be a mild one,” he said while presenting a quarterly construction economic update and forecast webinar Oct. 12. Construction wages rose 5.5% over 12 months as of September, the fastest growth in about 40 y...
Contractors are continuing to hire as they operate at capacity, but a potential recession could impact the economy next year, said Anirban Basu, chief economist for Associated Builders and Contractors. “I think we’re headed for recession in 2023, and I do not believe it will be a mild one,” he said while presenting a quarterly construction economic update and forecast webinar Oct. 12. Construction wages rose 5.5% over 12 months as of September, the fastest growth in about 40 y...