mortgage

Mortgage 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 (...

Real 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...

The 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...

Nonbank 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...

Over 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...

The 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-...

The 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...

The 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....

Real 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...

In 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...

America’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...

The 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...

A 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....

As 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...

Investors 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...