Mortgage debt is rising despite the fact that mortgage originations for refinances and purchases are trending downward. The Federal Reserve Bank of New York's quarterly household debt report shows an increase in household debt of $266 billion (1.7%) to $15.84 trillion for the first quarter of 2022. But new loan originations โ both for home purchases and refinancing of existing mortgages โ fell to $859 billion, the lowest since the second quarter of 2020.ย
Mortgage debt is rising despite the fact that mortgage originations for refinances and purchases are trending downward. The Federal Reserve Bank of New York's quarterly household debt report shows an increase in household debt of $266 billion (1.7%) to $15.84 trillion for the first quarter of 2022. But new loan originations โ both for home purchases and refinancing of existing mortgages โ fell to $859 billion, the lowest since the second quarter of 2020.ย
Nonbank mortgage payrolls declined for the second consecutive month, but with mass firings increasing towards the end of June, the most recent statistics fail to represent the full extent of recent workforce reductions in the field.ย Combined estimates for mortgage banker and mortgage broker payrolls in June totalled 410,000, compared with a slightly downward revised 417,900 in May and 425,200 in April, according to the Bureau of Labor Statistics. The mortgage industry employed a revised 423,00...
Nonbank mortgage payrolls declined for the second consecutive month, but with mass firings increasing towards the end of June, the most recent statistics fail to represent the full extent of recent workforce reductions in the field.ย Combined estimates for mortgage banker and mortgage broker payrolls in June totalled 410,000, compared with a slightly downward revised 417,900 in May and 425,200 in April, according to the Bureau of Labor Statistics. The mortgage industry employed a revised 423,00...
Some good news? Mortgage Bankers Association says fewer people are delinquent on their mortgage payments.
The post Mortgage delinquency rate reaches lowest level since 2019 Q4 appeared first on HousingWire.
Some good news? Mortgage Bankers Association says fewer people are delinquent on their mortgage payments.
The post Mortgage delinquency rate reaches lowest level since 2019 Q4 appeared first on HousingWire.
Dive Brief:
Nonresidential construction input prices fell 1.8% in July, providing evidence that the worst of skyrocketing costs for building materials may be in the rearview mirror.
An Associated Builders and Contractorsโ analysis of the July producer price index, which measures the selling prices of goods and services,ย found input costs were down in eight of 11 subcategories for nonresidential construction, with a 27.6% reduction in natural gas costs leading the way.
The news builds on po...
Dive Brief:
Nonresidential construction input prices fell 1.8% in July, providing evidence that the worst of skyrocketing costs for building materials may be in the rearview mirror.
An Associated Builders and Contractorsโ analysis of the July producer price index, which measures the selling prices of goods and services,ย found input costs were down in eight of 11 subcategories for nonresidential construction, with a 27.6% reduction in natural gas costs leading the way.
The news builds on po...
In late March, 30-year mortgage rates experienced their largest 3-month increase since May 1987 โ up 1.56 percentage points since the end of 2021.ย A recent chart shared on twitter by Len Kiefer, Deputy Chief Economist at Freddie Mac, who helps โpeople understand the economy, housing, and mortgage marketsโ illustrates these increases going back to [...]
The post Mortgage Rates See Largest 3-Month Increase Since 1987 appeared first on Real Estate Investing Today.
In late March, 30-year mortgage rates experienced their largest 3-month increase since May 1987 โ up 1.56 percentage points since the end of 2021.ย A recent chart shared on twitter by Len Kiefer, Deputy Chief Economist at Freddie Mac, who helps โpeople understand the economy, housing, and mortgage marketsโ illustrates these increases going back to [...]
The post Mortgage Rates See Largest 3-Month Increase Since 1987 appeared first on Real Estate Investing Today.
Mortgage rates play a very crucial role in the real estate industry. With the way things are going today, what can investors expect in 2022? Mortgages Have Swiftly Increased inโฆ
Mortgage rates play a very crucial role in the real estate industry. With the way things are going today, what can investors expect in 2022? Mortgages Have Swiftly Increased inโฆ
The monthly cost of buying a typical home has surged by more than a third over the past year by one estimate, yet demand remains robust.
The post Mortgage Rates Hit 5% for First Time Since 2011 appeared first on Real Estate News & Insights | realtor.comยฎ.
The monthly cost of buying a typical home has surged by more than a third over the past year by one estimate, yet demand remains robust.
The post Mortgage Rates Hit 5% for First Time Since 2011 appeared first on Real Estate News & Insights | realtor.comยฎ.
Home prices declined 0.77% from June to July, the first monthly fall in nearly three years, according to Black Knight, a mortgage software, data and analytics firm. While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991, behind the 0.9% decline in July 2010, during the Great Recession. The sharp and fast rise in mortgage rates this year caused an already pricey housing market to become e...
Home prices declined 0.77% from June to July, the first monthly fall in nearly three years, according to Black Knight, a mortgage software, data and analytics firm. While the drop may seem small, it is the largest single-month decline in prices since January 2011. It is also the second-worst July performance dating back to 1991, behind the 0.9% decline in July 2010, during the Great Recession. The sharp and fast rise in mortgage rates this year caused an already pricey housing market to become e...
The average rate on a new two-year fixed mortgage has risen above 6% for the first time since 2008, according to data that will intensify concern about the crisis in the home loans market.News that the typical new rate had climbed to 6.07% came the day before the chancellor, Kwasi Kwarteng, was due to meet with executives from Britainโs biggest banks to discuss the impact of the financial markets turmoil on mortgages and availability.Moneyfacts, a financial data provider, said the average new ...
The average rate on a new two-year fixed mortgage has risen above 6% for the first time since 2008, according to data that will intensify concern about the crisis in the home loans market.News that the typical new rate had climbed to 6.07% came the day before the chancellor, Kwasi Kwarteng, was due to meet with executives from Britainโs biggest banks to discuss the impact of the financial markets turmoil on mortgages and availability.Moneyfacts, a financial data provider, said the average new ...
