Mortgage rates

Remote workers looking across the country for an inexpensive house have a wide net to cast, but a few important socioeconomic factors can narrow the search.

Average loan size also continues to increase, as demand remains high and costs in homebuilding materials rise this year.

The month saw the highest median home sales price ever along with the quickest time ever to sell a new listing.

Economic recovery should soar into the summer as vaccination rates climb and restrictions loosen up, but low inventory is likely to limit mortgage activity into the next year, according to Fannie Mae.

With little transitional disruption, the bigger players on the non-agency side could gain a hefty share of non-owner-occupied mortgage volume as a result of Fannie Mae and Freddie Mac’s caps on such purchases, a KBRA analysis finds.

Inflation concerns may reverse the trend that has seen the 30-year rate decline six out of the last seven weeks.

Purchase loan volume also increased, as borrowers tried to take advantage of rate dips across all loan types

While the first quarter is typically the weakest period for the title business, the sector benefited from strong refinance volumes that were driven by low interest rates.

In spite of an improving economy, acute competition and supply scarcity soured homeshoppers on the purchase market in April, according to Fannie Mae.

Promising jobs numbers and favorable economic data are an encouraging sign for the post-pandemic future, but rising interest rates are sure to follow.

The recent increase in loan size across all application types reflects rising prices, which contributed to a drop in applications, Mortgage Bankers Association economist Joel Kan said.

Hedge accounting will align Fannie’s reporting with competitor Freddie Mac, and will address a mismatch between the recorded value of financial instruments used to offset interest-rate volatility on mortgages and the loans themselves.

Depressed Treasury yields have kept mortgage rates under 3% recently, but positive economic news could indicate larger increases will follow this week’s uptick.

After a one-week reprieve, mortgage activity waned again with decreased demand for refinances and extremely low inventory for homebuyers.

Despite home purchasing power growing for the 14th consecutive month in February, rising property values and mortgage rates are likely to influence would-be sellers to stay put, according to First American.

Inflation, an improving economy and the increased federal budget deficit make rate increase inevitable this year, the Mortgage Bankers Association said.

While it’s the third straight week of a downward trend, borrowers likely have only a brief opportunity to take advantage of sub-3% rates before a reversal comes.

While purchase volume is seeing its usual seasonal pickup, lower rates caused a spike in activity among existing homeowners looking to refinance.

The government sponsored enterprise’s latest forecast calls for a nearly $4 trillion year for 2021.

Rising cases and vaccine issues caused bond yields to fall, but inflationary pressures will likely reverse that course.