Mortgage rates

Sales of new homes in the unexpectedly advanced for a fourth month in August to the highest level in almost 14 years as record-low mortgage rates continued to entice buyers into a market with ever-shrinking supply.

Mortgage rates experienced a marginal uptick this week, rising three basis points. But they remained near record lows and possibly soon could track down again, according to Freddie Mac.

A summer resurgence of home buying stretched into August, defying the pandemic to set record home prices and drive sales to a near two-year high, new housing figures show.

Chattanooga, Tenn., home sales continued last month to rebound from the coronavirus-spurred slump in the spring, boosting the median price of homes sold during August to an all-time high.

Mortgage applications increased 6.8% from one week earlier as this summer's surprise purchase demand has carried over to the fall, according to the Mortgage Bankers Association.

But the group is more conservative than Fannie Mae when it comes to interest rate movements over the next six quarters.

Outside the densely populated coastal hubs, annual home sales grew by leaps and bounds, as buying patterns shifted toward more space with less emphasis on proximity to urban centers, according to Redfin.

Sales of previously owned homes remained brisk in August as low mortgage rates and demand for space in the suburbs sustained strength in a housing market that’s a bright spot for the economy.

August was a blockbuster month for home sellers across the 16-county metro, despite the global pandemic and a coming presidential election, which typically puts buyers on edge.

A combination of pent-up demand, low inventory and rock bottom interest rates is making it extra tough for homebuyers with government-backed loans.

Home starts fell more than forecast in August, reflecting less construction of apartments and a decline in the tropical storm-hit South, representing a pause in momentum for a housing market that's been a key source of fuel for the economy.

Mortgage rates remained relatively flat, rising a single basis point off of last week's record low, according to Freddie Mac.

Low rates, along with increased new and existing home sales activity drives the latest forecast.

U.S. homebuilder optimism rose to a record in September, with low mortgage rates driving a housing boom that has boosted the pandemic economy.

Loan applications for new homes have staged a remarkable turnaround this year after falling 25% month-over-month and 12% year-to-year due to the coronavirus' impact in April.

Also the Federal Housing Administration, which is a key contributor of government-insured loans to Ginnie securitizations, recently set new conditions on mortgage applicants that have been in forbearance.

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Even though second-quarter originations were nearly double the same period in 2019, most were refinancings, which generate less revenue for title companies.

The Spokane County, Wash., housing market continues to show resilience during the coronavirus pandemic as the median closing price skyrocketed to a record-breaking $317,000 in August.

Mortgage rates fell 7 basis points this week to yet another record low in the 49-year history of the Freddie Mac Primary Mortgage Market Survey, as stock market indicators sank during the period.