Rates for borrowers with credit scores below 680 making down payments of less than 20 percent climbed past 7% on Monday, according to Optimal Blue
Fed Chair Jerome Powell says policymakers are not ready to start selling off Treasurys and mortgage debt to accelerate trimming of $9T balance sheet
Even though the economy is probably headed for a recession next year, the Fed is seen as having a ways to go before inflation is under control
Rising demand for purchase loans and refinancing as rates climb to new highs underscores volatility, with Fed expected to continue rate hikes, according to the MBA's latest survey
The Rocket Companies subsidiary will roll out mobile eClosings for purchase loans by the end of 2022, an indication the practice of attending a closing in person may soon be coming to a close
The Department of Veterans Affairs allows desktop appraisals when borrowers put 20% down, but nearly 90% of VA-backed loans are made to homebuyers who put zero down
The NAR, MBA and NAHB argue that the Federal Housing Administration is flush with cash, and that delinquency rates on FHA loans have returned to pre-pandemic lows
Purchase loan applications fell 29% from the same period last year, the result of rising rates that are double their levels from 2021, according to the Mortgage Bankers Association’s weekly index
No sign of a rebound in purchase applications, but August data showing a strong job market 'should support housing demand,' MBA economist says
Purchase applications have declined in 8 of the last 9 weeks, according to a weekly survey by the Mortgage Bankers Association released on Wednesday
Purchase loan activity has dropped in 5 of the last 6 weeks as some buyers remain wary, according to the Mortgage Bankers Association
The largest weekly decline in mortgage rates since 2020 sparks increase in home loan applications after 4 weeks of declining demand, MBA's survey says
Fed Chairman Jerome Powell hinted Wednesday that the US central bank is looking to dial back the pace of interest rate hikes as soon as the impact of increases shows up in inflation data
Decline in purchase applications aligns with slower homebuilding activity due to reduced buyer traffic and ongoing building material shortages, according to the Mortgage Bankers Association
Purchase loan applications continue to be weaker 'due to the combination of much higher mortgage rates and the worsening economic outlook,' said MBA forecaster Joel Kan