Housing Markets News from National Mortgage News

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The 30-year fixed rate mortgage fell 2 basis points this week, Freddie Mac said, but other sources like Zillow and Lender Price reported larger drops.

The median monthly home loan payment fell $45 in July from June, although some of those payments are more expensive compared to the same time last year.

While borrowers took advantage of rate dips to refinance, purchases declined year over year, showing obstacles still standing in the way of a market turnaround.

The increase in purchase volume was not enough to offset the drop in refinance application submissions as conventional rates increased week-over-week.

The bank "temporarily" paused home equity line of credit lending in April 2020, over concerns regarding the economic impact of the Covid-19 pandemic.

While still higher than the norm, the reduction in this spread is good news when it comes to mortgage rates for potential homebuyers as well as current owners.

A Redfin survey found that no matter what age demographic, owners are in a better situation to make their payments compared to renters.

While the overall delinquency rate improved this summer, FHA-backed mortgage borrowers continued to exhibit concerning levels of payment stress in July.

Bank of Glen Burnie, which is seeking to recover from a stretch when its assets declined, hopes that its deal for a residential lender can help boost loan production.

The 30-year fixed rate mortgage ended the week unchanged as the 10-year Treasury ended Wednesday about 5 basis points higher than seven days before.

Fannie Mae economists toned down their housing and economic outlook in August, predicting fewer home sales and less mortgage origination volume versus July.

Borrowers affected by the blazes are also reeling from homeowners insurance woes, contractor shortages and inflation making rebuilding difficult.

Among the nation's 50 largest metropolitan areas, 25 had annual price increases in July, while the others recorded price declines, Zillow found.

Even with direct costs of import taxes excluded, prices for residential construction goods and services increased by the most in two years, NAHB said.

The real estate company said it started the search for a new CEO mid-year following Carrie Wheeler's notice to the board she was looking to leave.

Real estate investor sentiment bounced back from two quarters of decline, but lingering fears around tariffs, interest rates still weigh on many buyers' minds

The 30-year fixed rate mortgage fell by 5 basis points, with the Consumer Price Index showing muted inflation and jobs data still influencing the market.

Between rising home costs and the end of mortgage relief programs, many homeowners are struggling to stay above water, especially in the South and West.

While private mortgage insurance still has a larger share of business than the Federal Housing Administration, the gap will continue to narrow through 2027.