Mortgage Refinancing Applications Jump As Borrowers Race to Beat Rising Rates
The 18% jump in mortgage refinancing applications came as home-loan rates rose to a 22-month high last week.
February 2, 2022 2 MIN
The 18% jump in mortgage refinancing applications came as home-loan rates rose to a 22-month high last week.
As mortgage rates hover near two-year highs, Federal Reserve Bank of Kansas City President Esther George gave a speech on Monday that likely will send them higher.
More than half of U.S. states don't require adequate disclosures to homebuyers about past flooding events or a property's location in a flood plain, Fannie Mae said.
Signed contracts to purchase previously owned homes dropped last month as the number of homes on the market fell to a record low.
The U.S. economy expanded at a 6.9% annualized rate in the final three months of 2021, triple the pace of the prior quarter, as Covid-19 infections spiked to record highs.
The Fed issued an addendum to its traditionally sparse statement that outlined how it plans to reduce its record $8.4 trillion portfolio of Treasuries and mortgage bonds.
Builders sold 811,000 houses at an annualized and seasonally adjusted pace, the highest reading since March, the Commerce Department said in a report.
Phoenix led the 20-city index, as it has for more than two years, posting a 32.2% annualized advance in November, according to S&P Dow Jones Indices data.
Today's red-hot pace of inflation likely will cool to about 2% by 2022’s end, about a third of its current rate, according to Treasury Secretary Janet Yellen.
Home sales weakened last month as the number of available properties dropped to the lowest ever recorded, NAR said.
