Mortgage rates

Mortgage rates moved off of their all-time low this week as a result of reports that Pfizer's coronavirus vaccine was potentially 90% effective, according to Freddie Mac.

Mortgage applications decreased 0.5% from one week earlier as inadequate housing supply is putting upward pressure on home prices and affecting purchase activity, according to the Mortgage Bankers Association.

With the 10-year Treasury yield getting a boost due to Pfizer’s COVID-19 vaccine news this week, KBW predicts insurers and title underwriters will fare best as recovery continues.

A number of unknowns about the election and the coronavirus response kept consumer confidence in check, according to Fannie Mae.

Problems with self-service tools and inconsistent communication have damaged consumer perception of their lender, J.D. Power said.

Bay Area homebuyers shook off any lingering reservations about shopping during the coronavirus pandemic, driving median sale prices up nearly 20% in September in a tight housing market.

Also: Waterstone Financial hires its fourth head of mortgage in two years.

The new record in third-party originator hiring numbers adds to indications that some lenders have been leaning harder on the wholesale channel to address capacity issues amid the origination boom.

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

More borrowers between 21 and 40 are leveraging the historically low mortgage rates to either buy their first homes or slash their monthly payments, according to Ellie Mae.

Smaller lenders should consider positioning themselves for acquisition at a time when they can be making the most money.

Record low mortgage rates and a flurry of buyers on the hunt for home offices and more space helped boost homebuilding on the eve of the presidential election.

With a dearth of inventory, September generated the largest price growth in the housing market since May 2014, according to CoreLogic.

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.