Mortgages

The average 30-year rate dropped seven basis points to 3.05%.

While 2021 projections are unchanged from November, they are 2% higher than what the organization's economic forecast in October.

Rising Covid-19 cases in the U.S. and overseas could create supply chain and labor headwinds in the coming months, slowing construction and leading to further inventory shortages.

Economists at Realtor.com and Redfin predict that across the country, rents will grow about 7% in 2022, higher than the predicted 3% growth in median home listing prices.

However, the serious delinquency rate dropped to a point significantly below the market-wide average, and much of the foreclosure activity allowed to proceed did so with new consumer protections in place.

First-time buyers comprised just 26% of November transactions, down from 32% a year ago and matching the lowest share since 2014, the National Association of Realtors report showed.

In four of the six periods in the last 30 years where mortgage rates increased significantly, sales also grew, First American said.

While the overall number of applications dropped last week, average mortgage sizes shot up across all categories.

With resources provided through the Homeowner Assistance Fund, the $1 billion plan will help cover homeowners’ past-due payments and comes after New York unveiled a similar assistance package earlier this month.

The government-sponsored enterprise has 45 days to submit a plan on how it intends to meet the increased target for 2022 through 2024.

Further declines occurred in November, albeit at a slower pace than in October, according to a new loan performance report from the Mortgage Bankers Association.

The Servicemembers Civil Relief Act includes extra protections aimed at preventing foreclosure for homeowners in the military.

The 2.5 million-member personal-finance app has saved consumers $100 million-plus since its founding in 2015, and could add a similar amount on an annualized basis to fee income.

Recent existing home sales have been stronger than expected, but next year could see a market held back by the inventory shortage and higher rates.

The crime highlights the importance of ensuring the integrity of documentation used by lenders to verify loan information at a time when defect risk is rising.

The decline in competition might not have helped with affordability but it gave home purchasers more time to consider properties before they were snatched up.

Lenders gaze into the looking glass to forecast what’s ahead for the industry’s jobs, product mix, capital market policy and more.

Although seasonal slowing and limited inventory have temporarily reduced prospective financing, the number sales in the sector hit nearly 1 million in November, according to the Mortgage Bankers Association.

The central bank’s new tone has many in the industry planning for potential volatility in 2022.