Purchase

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.

California house sales will rebound slightly next year from the pandemic, and home prices will continue edging upward, thanks to rock-bottom mortgage rates and strong homeownership demand, according to the California Association of Realtors.

The pandemic has exacerbated delays and inefficiencies in loan manufacturing, while adding to security risks.

Mortgage applications decreased 0.7% from one week earlier, but lending activity should continue strong for the remainder of the year as rates stay low, according to the Mortgage Bankers Association.

San Francisco's residential real estate market saw brisk activity from July through September with a steep increase in both sales and inventory, as a significant jump in buyers was not enough to keep up with the deluge of new condos and homes flooding the marketplace.

With millions out of work, and restaurants, shops and retailers closing, one spot in the economy shines for thriving and affluent professionals — Bay Area real estate.

Millennials continue to lock in the lowest average mortgage rates on record, keeping lenders busy and the housing market churning, according to Ellie Mae.

But overall sentiment as measured by Fannie Mae continued to recover from the depths of this spring.

The up-and-down pattern for mortgage application activity continued, as volume rose 4.6% from one week earlier led by refinancings, according to the Mortgage Bankers Association.

Low mortgage rates and strained supply drove the housing market price growth to a 26-month high in August, according to CoreLogic.

The supply of homes for sale in Riverside and San Bernardino counties was 48% below year-ago levels for the week ending Sept. 26, according to Zillow.

A buying frenzy, with soaring prices and out-of-state buyers, continues to dramatically affect the housing market in Missoula, Mont., but at least one data source shows it's just a continuation of a years-long trend.

Two more lenders, AmeriHome and Caliber, look to join Rocket and United Wholesale Mortgage, by raising capital through public stock offerings.

Whether low rates will continue to outweigh health and employment concerns for millennials and Generation Z remains to be seen.

Mortgage rates fell back toward their all-time low this week, increasing purchasing power for homebuyers. But the lack of homes for sale drives up prices and reduces affordability, according to Freddie Mac.

Pending home sales rose more than expected in August, reaching the highest level on record as low mortgage rates fuel a housing rally.

Mortgage applications decreased 4.8% from one week earlier, as refinance activity was down even as average rates fell to a new record low, according to the Mortgage Bankers Association.

Home prices around Seattle rose faster than in any city in the country, save Phoenix, for the sixth consecutive month in midsummer.

Home prices in 20 U.S. cities gained in July, pushed higher by demand for housing that has been fueled by low mortgage rates.