The decline in mortgage rates prompted an uptick in refinancing, with government refinances increasing more than 20% over the week, MBA associate vice president of economic and industry forecasting Joel Kan said in a press release.
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“Mortgage rates decreased for the first time since August, as concerns about supply-chain bottlenecks, waning consumer confidence, weaker economic growth and rising inflation pushed Treasury yields lower.” — MBA associate vice president of economic and industry forecasting Joel Kan
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Asking prices for homes reached an all-time high in September, despite pending sales and new listings cooling.
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Mortgage finance giant Fannie Mae is making it easier to include rent-payment history as part of the mortgage approval process, a move intended to help borrowers with limited credit histories get better access to home loans.
The post Fannie Mae Aims to Make Home Loans More Accessible appeared first on Real Estate News & Insights | realtor.com®.
New home sales occurred at a seasonally-adjusted annual rate of 769,000 in May, the U.S. Census Bureau reported Wednesday.
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Thomas A. Ferrara/Newsday RM via Getty Images)Mortgage rates reached their highest level since November last week, cooling off home purchase and refinance applications ahead of the all-important spring selling season.
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New forms are showing up in some borrowers’ paperwork when they close on their home loan. Lenders are asking them to confirm that they don’t plan to skip their payments, at least not right away.
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