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Mortgage Applications Climb For Third Week As 30-Year Interest Rates Drop
Wednesday, May 22, 2024 - 9:05am | 541Mortgage applications in the U.S. saw an increase of 1.9% for the week ending May 17, continuing an upward trend following a 0.5% rise the previous week. This marks the third consecutive week of growth in mortgage demand, according to data released Wednesday from the Mortgage Bankers Association (...
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Real Estate Stocks Fall As Mortgage Rates Rise To 4-Month Highs: 'Inflation Is Proving Tougher To Bring Down'
Wednesday, April 17, 2024 - 11:23am | 1129Real estate stocks slid at Wednesday’s market open, weighed down by the latest disappointing data on housing starts and a spike in mortgage rates, darkening the outlook for the sector. By 9:00 a.m. EST, the Real Estate Select Sector SPDR Fund (NYSE:XLRE) had dropped by 0.3%. This marked its...
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Will Mortgage Rates Pop Again? Homebuyers Combat An Affordability Crises
Thursday, April 11, 2024 - 1:32pm | 821The recent spike in national mortgage rates stirred concerns among homebuyers and economists alike. With the 30-year fixed-rate mortgage (FRM) climbing to 6.88% on April 11, questions arise about the trajectory of the housing market. Chart Source: Freddie Mac Additionally, other key indicators...
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High Fees By Nonbank Lenders Put Black And Latino Homebuyers In Disadvantage: Report
Wednesday, December 20, 2023 - 7:22am | 607Nonbank lenders, who now lead the charge in the U.S. residential mortgage sector worth $12 trillion, have been found to impose higher fees, disproportionately affecting Black and Latino homebuyers. What Happened: As per a recent Bloomberg analysis published on Tuesday, conventional banks have...
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Good News For Homebuyers As Mortgage Rates Fall For 4th Straight Week
Friday, November 24, 2023 - 1:21pm | 571Over the past few weeks, there has been a decline in mortgage rates. Despite this drop, the expense associated with borrowing remains high. The 30-year fixed mortgage rate averaged 7.29% for the week ending Nov. 22, according to Freddie Mac's Primary Mortgage Market...
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US Mortgage Applications Surge As Rates Dip: Is The Industry Moving Out Of The Woods? Plus: Stocks, ETFs To Watch
Wednesday, November 22, 2023 - 1:04pm | 674The latest data from the Mortgage Bankers Association (MBA) revealed a significant uptick in U.S. mortgage applications, marking a 3% increase from the previous week and the sharpest weekly rise in two months. The surge came during a decrease in the average contract interest rate for 30-year fixed-...
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Trump's 40 Wall St. Saga: Mortgage Reportedly Transferred To Special Servicer Amid Soaring Costs And Spike In Vacancy
Saturday, November 11, 2023 - 2:35pm | 658The mortgage of the Manhattan tower at 40 Wall St., associated with former President Donald Trump, has been reportedly shifted to a special servicer. Since February, the Financial District building has been under watchlist surveillance due to rising costs and increasing vacancies, according to...
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Homebuyers Face Setback: Mortgage Applications Denied Over Income Shortages
Monday, November 6, 2023 - 2:14pm | 835The housing bubble is heating up, with median 30-year mortgage rates hitting the 8% threshold, the highest since 1995. As monthly mortgage payments rise because of soaring home prices and interest rates, obtaining a mortgage has become increasingly challenging for many prospective buyers....
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Real Estate Stocks Decline, Ending Six-Day Winning Streak As Mortgage Rates Surge To 23-Year Highs
Thursday, October 12, 2023 - 5:13pm | 587Real estate stocks, tracked by the Real Estate Select Sector SPDR Fund (NYSE:XLRE), experienced losses exceeding 1% on Thursday, reversing earlier gains and breaking a six-day winning streak. This shift was prompted by growing risk aversion in global markets, as investors adopted a more cautious...
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How First-Time Home Buyers Afford A House With Prices At Record Unaffordability
Saturday, September 16, 2023 - 2:10pm | 853In a housing market as tumultuous as a stormy sea, first-time homebuyers claimed 32% of homebuilders' net sales this year, according to data from John Burns Research & Consulting. The surge comes amidst a backdrop where real estate deals have been wobbling precariously...
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Tiny Houses Mean Towering Hassles In Getting A Mortgage
Wednesday, September 6, 2023 - 12:21pm | 645America’s obsession with tiny homes dates to 1945 when Henry David Thoreau built a one-room cabin on the shores of Walden Pond. The materials cost him $28.12, which comes to $1,131.06 in today’s dollars, according to the CPI Inflation Calculator. While building a tiny home today costs...
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Mortgage Rates Climb To 7.31%, Highest in 23 Years: Shocking Chart Reveals Tremors in Housing Market
Wednesday, August 23, 2023 - 9:17am | 681The U.S. housing market is facing a seismic shock. Mortgage rates skyrocket to levels not seen in over two decades. The average contract interest rate for 30-year fixed-rate mortgages has surged by 15 basis points (bps). The rates reached a staggering 7.31% for the week ending Aug. 18. This marks...
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Mortgage Mayhem: Rates Reach Highest Point Since 2002, Rocking Real Estate Market
Wednesday, August 9, 2023 - 9:37am | 617A notable shake-up is underway in the real estate sector as 30-year mortgage rates experience an unexpected climb, reaching 7.09% in August 2023. The average contract interest rate for 30-year fixed-rate mortgages, tailored for those with conforming loan balances of $726,200 or less, surged from 6....
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Homebuyers Flock To Lower Interest Rates: MBA Weekly Mortgage Applications Survey
Wednesday, January 18, 2023 - 1:07pm | 447As mortgages continued to moderate, potential home buyers were flocking to the opportunity to secure a lower interest rate, Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey data showed. What Happened: The Market Composite Index — a measure of mortgage loan...
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If You Invested $1,000 In Rithm Capital (RITM) Stock At Its COVID-19 Pandemic Low, Here's How Much You'd Have Now
Friday, January 6, 2023 - 1:13pm | 649Investors who bought stocks during the COVID-19 market crash in 2020 have generally experienced some big gains in the past two and a half years. But there was no question some big-name stocks performed better than others since the pandemic bottom. New Residential's Bumpy Ride: One company that...