Mortgage rates

A gauge of pending home sales unexpectedly declined in September for the first time in five months, a sign elevated asking prices and lean supply are tempering the boom in housing despite the record-low interest rates.

Mortgage rates remained relatively flat this week, helping housing to stay as one of the bright spots in the U.S. economy during the current uncertainty, according to Freddie Mac.

U.S. home prices rose the most in two years in August as low mortgage rates spurred competition for an increasingly scarce supply of listings.

Purchases of new single-family houses dropped 3.5% from August to a 959,000 annualized pace from a downwardly revised 994,000 rate, government data showed Monday.

Sales of previously owned homes rose more than expected in September to the highest level in 14 years as a desire for more space and record-low mortgage rates continue to support demand.

Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.

Mortgage volume continues to surge, driven by borrowers refinancing behind record-low interest rates, according to Ellie Mae.

Southern California home sales and prices surged higher in September, the latest evidence of a hot housing market during the global COVID-19 pandemic.

Mortgage applications decreased 0.6% from one week earlier, although a slight drop in purchase volume belied the fact that consumers are taking advantage of the current rate environment, according to the Mortgage Bankers Association.

The number of bidding wars increased for the fifth straight month, with Salt Lake City posting the highest rate of competitive listings in two years, according to Redfin.

The Bay Area real estate market continued its roaring recovery in September, as buyers took advantage of ultra-low mortgage rates to scoop up a shrinking number of homes for sale at an astonishing pace.

New-home starts increased in September on a sharp gain in single-family house construction while building permits climbed, indicating residential building had plenty of momentum at the end of the third quarter.

With record low mortgage rates driving buyer demand, home sales and prices spiked in September, shrinking the supply and days on market, according to Remax.

This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.

In the Philadelphia metropolitan area, the number of homes that sold in 10 days or fewer jumped from about 1,730 in September 2019 to roughly 4,250 last month.

Just a week after commenting that the bottom on mortgage rates was possibly reached, Freddie Mac reported that they fell 6 basis points to another record low.

Lower-than-expected rates will drive mortgage production this year, but they’ll have less of an impact in 2021.

A surge of mortgage originations allowed Ginnie Mae to surpass its high watermark for mortgage-backed security issuance by nearly 33%.