Mortgage rates

BSI Financial's chief executive weighs in on changes in the interest rate environment, the evolution of digital mortgage servicing and natural disasters.

Home sales continued to perform in line with their potential in September and indicators suggest housing will keep flourishing through the fourth quarter, according to First American.

The biggest drop in mortgage rates in history has Southern California house hunters making an autumnal rush to buy, with freshly opened escrows up 14% in a year.

Portland-area home sales jumped in September compared with a year ago, bringing a jolt to the housing market during the waning months of a slow year.

Home sales and the median sales price in Central Texas hit all-time highs for any September on record, the Austin Board of Realtors said.

Mortgage applications to purchase new homes dropped 8% in September from August, as ongoing uncertainty over interest rate movements and economy likely kept buyers out of the market, the Mortgage Bankers Association said.

New-home construction in September pulled back from a 12-year high though the key single-family category was stable, signaling the housing market is firming amid low mortgage rates and steady demand.

Strong economic trends like an improved employment outlook and rising homebuilder sentiment helped to drive average mortgage rates up 12 basis points from a week ago, according to Freddie Mac.

For the mortgage industry, the question of whether the Fed can control its target range for interest rates is crucial for managing volatility.

Homebuilder sentiment climbed to the highest level since February of last year as cheaper borrowing costs and a still-sturdy job market lifted measures of prospective buyer traffic, sales and the demand outlook.