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Housing Watch reported today that applications for mortgages from the Federal Housing Administration (FHA) increased last week as applicants rushed to fill out the paperwork before the new FHA requirements took effect on October 4. According to data from the Mortgage Bankers Association, the seasonally adjusted Purchase Index rose 9.3% from the previous week to its … Continue reading FHA Mortgage Application Numbers Bounce Back For the second consecutive week, mortgage applications have dropped, Reuters reported today. The Mortgage Bankers Association said that, despite rock-bottom interest rates, mortgage applications for both home purchases and refinancing decreased 8.9% for the week ending September 10. The MBA’s seasonally adjusted index of refinancing applications decreased 10.8% the same week, its lowest level since the … Continue reading Mortgage Applications Fall Again Today’s Bloomberg BusinessWeek article reported that, for the fifth consecutive week, the number of mortgage applications increased. This streak could be attributed to more people refinancing their loans as mortgage rates hit record lows. The Mortgage Bankers Association’s index was up 2.7% in the week ending August 27, according to the Bloomberg BusinessWeek article. Refinancing increased … Continue reading Mortgage Applications Index Increases for Fifth Straight Week With mortgage rates at record lows, some homeowners are still not taking advantage of them, but through no fault of their own. Today’s CNNMoney article reports how the new lending requirements are turning away borrowers who, under the old lending rules, would have been eligible for a loan. Last week, mortgage rates fell for the eighth … Continue reading Some Homeowners Unable to Take Advantage of Record-Low Interest Rates Mortgage rates are at record lows, the Wall Street Journal reported today. Interest on 30-year fixed loans fell from 4.54% last week to 4.49% this week. This week’s 15-year mortgage rate is 3.95%, down from 4% last week. Five-year adjustable-rate mortgages are at a new low of 3.63%, compared to 3.76% a week ago. One-year … Continue reading Affordable Financial Services Weekly Finance Review The Mortgage Bankers Association reported today that applications to purchase homes were up 1.5% last week compared to the previous week. This slight uptick could be attributed to the increasing volume of government loans and remarkably low mortgage rates. The unadjusted purchase index also rose by the same percentage, according to the MBA. Compared to four … Continue reading Mortgage Applications Rise 1.5% The Wall Street Journal is reporting today that the number of mortgage applications to buy a home fell again to its lowest level in 13-1/2 years. The Mortgage Bankers Association released data showing that applications for new homes dropped by 3.1% last week from the week before. After seeing a 14-month high two weeks ago, the … Continue reading Mortgage Applications Fall Again The Washington Post reported today that 30-year fixed-rate mortgages fell to 4.69% this week, down from 4.75% last week. According to Freddie Mac, this is the lowest rate since the government-owned lender tracked such data in 1971. This news should encourage more people to buy a home, but, in reality, the opposite is happening. Citing the … Continue reading Can Record-Low Mortgage Rates Propel Home Sales? Treasury prices rose after lower-than-expected existing home sales, MarketWatch reported today. According to MarketWatch, yields on 10-year notes, which move inversely to prices, fell 3 basis points to 3.22%. These findings come after today’s report from the National Association of Realtors showed existing-home sales for May unexpectedly fell 2.2% to an annual rate of 5.66 … Continue reading Treasurys React to Existing Home Sales Data |
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