Mortgage rates

Home construction starts increased in July by more than forecast and applications to build surged by the most in three decades, indicating builders are responding to robust housing demand fueled by record-low interest rates.

U.S. homebuilders are riding a wave of optimism as record-low mortgage rates drive demand for new homes.

As inventory dropped to an all-time low in July, borrowers hunted for houses further and further from city centers, causing price spikes in rural markets, according to Redfin.

For some employees given the option of working from home during the coronavirus pandemic, the workplace expanded from the city office to the beachfront condominium.

Amid the worst economic slowdown this spring since the Great Depression this spring due to business closings caused by the coronavirus pandemic, Chattanooga's housing market has remained relatively vibrant.

Perry Hilzendeger’s new role as president of mortgage servicing for Home Point Financial is in line with a previous role he had, and follows broader executive changes at Wells.

Interest rates jumped from a new record low, while Fannie Mae and Freddie Mac were widely panned for imposing a refinance fee.

But the 30-year fixed remains below 3%, which should continue to support increased demand.

Refinance volume led the spike in mortgage applications for the week ending Aug. 7 as interest rates continued tumbling.

Baltimore-area home sales hit a record high in July as interest rates remained low and buyers moved quickly to choose from a low supply of available properties.

Ginnie Mae helped to fund more than $70 billion in loans aimed at helping low- and moderate-income borrowers in July.

About 54% of properties underwent bidding wars in July with some metro areas peaking at 75%, according to Redfin.

Squeezed up by a combination of low supply and high demand, home prices broke records in nearly every major Washington county last month, even as the pandemic's onslaught continued to wreak havoc with other parts of the economy.

Earnings reports out this week beat pessimistic expectations, but strained coronavirus relief negotiations in Congress cloud the outlook for what's ahead.

Gross supply as of the end of June has already reached $1.2 trillion, a torrid pace considering the last decade has averaged $1.3 trillion per annum.

With infections resurging, consumer confidence in the housing market hit a snag in July, but sellers are feeling better about their prospects, according to Fannie Mae.

The rising number of positions appears to reflect an ongoing need to adjust capacity to address rate-driven demand.

Even though revenues beat analysts' estimates, Zillow lost $84 million in the second quarter, with its mortgage business losing $240,000.

Conditions have improved for the first time since November.

Whether mortgage rates continue to decline may depend on Friday’s job numbers.