Mortgage rates

Mortgage rates were flat this week and remain near all-time lows, according to Freddie Mac. But significant numbers of borrowers remain unable to take advantage of them.

Even as interest rates remained at record-low levels, mortgage application activity for both purchases and refinancings declined compared to one week earlier, according to the Mortgage Bankers Association.

For potential higher-end homebuyers, the pandemic was merely a pause, but for those seeking affordable properties — often people of color — it created yet another barrier.

New-home sales rose more than expected in May, with record-low mortgage rates pulling buyers back into a housing market that froze up during the pandemic.

The roller-coaster effect of national spending, Oregon's unemployment rate and conflicting economic forecasts are reflected in Portland's residential real estate market.

Sales of previously owned homes dropped in May by more than forecast to the lowest level since October 2010 as the coronavirus pandemic sent demand skidding along with the rest of the economy.

Potential sales last month rose compared with April as homes became more affordable due to low mortgage rates.

Mortgage rates fell 8 basis points this week to a new low as the economy remains shaky and there are new flare ups of the coronavirus, according to Freddie Mac.

Home construction starts rose less than forecast in May, suggesting builders were slow to resume work even as states across the country began to reopen.

Purchase mortgage application volume was at its most in over a decade as consumer confidence continued to improve in the aftermath of the coronavirus shutdown, according to the Mortgage Bankers Association.

The report by Unison also advised investors to focus on "diversified residential real estate" over traditional retail and office spaces.

Credit unions have seen historic mortgage growth so far this year despite the pandemic, but there are concerns some institutions may be overly relying on refinancing and not focusing enough on generating new purchase business.

Unemployment is high. Credit is tight. And scientists are warning that a dangerous second wave of the coronavirus is coming. But somehow, U.S. mortgage companies are having one of their best years in history.

Homebuilder sentiment improved in June as record-low interest rates and demand for more space spurred buyers to re-emerge after the coronavirus shut down sales and construction.

During a seven-day period earlier this month, there were 1,740 new home listings and 270 listings coming back on the market, and 2,065 pending sales, according to the Greater Metropolitan Association of Realtors.

Home sales in the Baltimore area plummeted in May, the steepest drop in a decade amid the pandemic, but record-low mortgage rates are pushing buyers into the housing market.

Mortgage rates increased slightly for the second consecutive week, buoyed early on by positive economic news such as the jobs report that came out last Friday, according to Freddie Mac.

Home sales in New Hampshire cratered in May thanks to fewer homes on the market and more caution by sellers during the coronavirus pandemic.

The Federal Reserve pledged to maintain at least the current pace of asset purchases and projected interest rates will remain near zero through 2022, as Chairman Jerome Powell committed the central bank to using all its tools to help the economy recover from the coronavirus.

Mortgage investors can take heart knowing the Federal Reserve considers agency MBS a primary arena through which to conduct monetary policy.