Adjustable-rate mortgage applications surge in Tampa Bay

Adjustable-rate mortgage applications rise in Tampa Bay alongside climbing interest rates

bizjournals bizjournals | 1 year ago

Adjustable-rate mortgage applications hit a 14-year high of 11% of total mortgage applications in May, according to a Mortgage Bankers Association report. ARMs, which played a central role in the 2008 housing market collapse, are trending upward in Tampa Bay alongside rising interest rates, but they aren’t a reason for concern, according to Bank of Tampa Pinellas Market President Owen LaFave. “The product has changed a lot since the last [economic] cycle. It’s not as risky,” LaFave to...

Total mortgage apps up 2% as rates rise, adjustable-rate mortgage demand surges

Broadcast Media Production and... Broadcast Media Prod... | 1 year ago

CNBC's Diana Olick joins 'Squawk Box' to break down the Mortgage Bankers Association's latest weekly mortgage rate application data.

Mortgage applications continue fall amid 5% rate

housingwire housingwire | 2 years ago

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 applications rise despite higher rates - HousingWire

housingwire housingwire | 1 year ago

Mortgage applications rose for the second straight week even as mortgage rates rose to 5.53%, the MBA reports. The post Mortgage applications rise despite higher rates appeared first on HousingWire.

Tampa Bay housing inventory continues to rise, report shows

bizjournals bizjournals | 1 year ago

Housing inventory rose for the third consecutive month in July, as active listings were up 30.7%, according to a Realtor.com report. The report highlights that while buyers had nearly a third more for-sale home options in July than in the previous year, competition remained in favor of sellers, with listing prices near all-time highs and homes selling faster than before the start of the pandemic. “The U.S. housing market continues to move toward more evenly balanced supply and demand com...

Thinking about an adjustable-rate mortgage? Know the risks

latimes latimes | 2 years ago

A few years after risky mortgages and related investments led to a global financial collapse, the Federal Reserve put out a handbook to help consumers make smarter choices about their home loan options. The focus was on adjustable-rate mortgages, whose exotic variants were among the prime culprits in the meltdown. “To compare two ARMs or to compare an ARM with a fixed-rate mortgage,” the handbook states, “you need to know about indexes, margins, discounts, caps on rates and payments, negat...

Tampa Bay home prices rise as cash investors dominate the housing market

bizjournals bizjournals | 2 years ago

As home prices continue to rise in the Tampa Bay area, the question becomes, is there enough room for everyone?

Mortgage applications rise ahead of Fed’s meeting

housingwire housingwire | 1 year ago

Demand for mortgage loans increased for the first time in six weeks, ahead of the Federal Reserve’s meeting on Wednesday. Still, it was down significantly from this time last year. The post Mortgage applications rise ahead of Fed’s meeting appeared first on HousingWire.

Mortgage rate locks tumble amid sharp rate rise

housingwire housingwire | 1 year ago

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.