Home loan rates are rising as inflation remains stubbornly high and bond investors react to the Federal Reserve’s plan to begin tapering its purchases of Treasuries and mortgage-backed securities.
The volume of applications for mortgages to purchase homes increased last week while refinancings declined, according to data from the Mortgage Bankers Association.
The number of days required to close a mortgage shrank in August to the shortest period in over a year, according to ICE Mortgage Technology.
About 4.2% of all mortgages in the nation were in some stage of delinquency, meaning 30 days or more past due, including loans in forbearance, the report said.
About 1.4 million U.S. homeowners with mortgages remain in Covid-19-related forbearance plans this week, the lowest since the beginning of the pandemic, Black Knight said in a report.
Mortgages backed by the Federal Housing Administration aren't the only way to get a low-down-payment home loan — Fannie Mae and Freddie Mac offer them too.
Mortgage rates edged lower this week as bond investors waited for Friday’s employment report to gauge when the Federal Reserve will start tapering its purchases of fixed assets.
“It’s changed my life,” said Gian Moore, who purchased a three-bedroom home in Washington D.C. with the help of a community-based down payment assistance program.
Mortgage refinancing applications dropped to a three-month low last week as interest rates rose, the Mortgage Bankers Association said in a report on Wednesday.
The number of days it took to close mortgages backed by the VA dropped to a 10-month low in July, led by a faster time frame for refinancings, according to a report from ICE Mortgage Technology.
Mortgage rates are rising as the investors who influence housing finance react to a Fed decision to taper bond purchases that supported the economy during the pandemic.
An index measuring the availability of jumbo mortgages rose 9.4% while the index for conforming home loans, eligigle for backing from Fannie Mae and Freddie Mac, rose 5.1%, the Mortgage Bankers Association report said.
Lifting the restrictions will allow Fannie Mae and Freddie Mac to aid in expanding homeownership to more Americans without increasing risk, said Jaret Seiberg, managing director at Cowen Group in Washington D.C.
The amount of home equity homeowners could tap gained $1 trillion in the second quarter as record home-price increases made real estate more valuable.
Refinancing from a 30-year to a 15-year mortgage can yield major savings and help you build equity sooner. Is it the right strategy for your situation?
Fed Chairman Jerome Powell had one job to do on Friday with his annual speech at the Jackson Hole Economic Policy Symposium: Keep bond investors from freaking out. He succeeded.
Veterans and service members can again use their VA benefits to fund their fixer-upper projects....
Mortgage rates ticked higher this week while remaining below the 3% threshold as bond investors worried about rising Covid-19 infections, Freddie Mac said.
With no down payment required, flexible credit guidelines and limits on closing costs and fees,...
In a hot market, many sellers have easier options than a buyer with a VA loan.
