Mortgage rates

Confidence among homebuilders stabilized in September as demand held up and lumber prices fell, a National Association of Home Builders/Wells Fargo report showed.

A new study from Pentagon Federal Credit Union finds a sizable portion of consumers will be shopping for a mortgage within two years, but it also revealed some major misconceptions surrounding the process.

While new-home construction and sales should rise in the next 18 months, next year's mortgage origination volume estimate was cut slightly as the economy is expected to slow down soon, said Fannie Mae.

Mortgage origination volume continues to decline as homebuyers receiving loans bring more money to the closing table.

Mortgage rates jumped 6 basis points over the past week, which led to the largest year-over-year gain in over four years, according to Freddie Mac.

Staggering home prices and steep tax rates are pushing people from expensive cities along the coasts to more affordable locales.

Mortgage applications decreased 1.8% from one week earlier as refinance submissions fell to their lowest in nearly 18 years, according to the Mortgage Bankers Association.

The number of workers employed by nonbank mortgage lenders and brokers reversed course and inched lower in July as affordability constraints and limited income gains reduced demand.

The typical homeowner spends 17.5% of their income on monthly mortgage payments, according to Zillow's second quarter affordability report.

Mortgage rates inched higher for the second straight week and further increases are likely in the near term, according to Freddie Mac.