Economy

Recent rate movements have failed to result in significant purchase growth, but refinances are providing lenders some lift.

The 30-year fixed rate mortgage is lingering just shy of 6.5% level, which is not low enough to bring home purchasers back into the market, observers said.

The possibility of moving stalled housing bills forward combined with promises of down payment assistance is offering hope to housing advocates.

The changes laid out in the agreement are technical, revolving around paperwork consumers complete at the beginning of the buying or selling process, and they add new wrinkles to an already complicated undertaking.

Vice President Kamala Harris outlined a raft of populist economic proposals in her first major economic speech since securing the Democratic presidential nomination, including some aimed at lowering housing costs and boosting supply.

A sizable decline in the South may have reflected the impact of Hurricane Beryl.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.

While other indicators all reported the 30-year fixed rate mortgage was lower on a week-to-week basis, Freddie Mac's survey increased for the first time in three weeks

Mortgage rates, already easing, should keep falling as inflationary pressure cools during the rest of the year, but a pair of wild cards could upset the prediction.

Nearly two-thirds of consumers in a July survey said they expect mortgage rates to decline soon, but most want to see them cross a very specific threshold before they act, Mphasis Digital Risk found.