Mortgage rates turned higher again last week. But the increase did not cut into mortgage demand, as buyers sought newly built homes.Total mortgage application volume rose 3% compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. An additional adjustment was made for the Juneteenth holiday.Applications for a mortgage to purchase a home rose 3% for the week but were 21% lower year over year. Th
Jumbo loan rates higher than conforming mortgages for 3rd week in a row as spread widens to 16 basis points, latest MBA lender survey reveals Homebuyer demand for purchase loans picked up last week to the highest level since May even as rates on jumbo mortgages surged, according to a weekly survey of lenders by the Mortgage Bankers Association (MBA).The MBA’s Weekly Mortgage Applications Survey shows applications for purchase mortgage
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‘The ongoing recovery in home prices is broadly based,’ Case-Shiller says The numbers: U.S. home prices rose in April as the housing market continues to contend with a scarcity of for-sale listings. Homeowners’ unwillingness to sell is pushing up home prices, despite elevated mortgage rates. The S&P CoreLogic Case-Shiller 20-city house-price index rose 0.9% in April, as compared with the previous month. Home prices were s
Homebuying tumbles to a 28-year low in May.“Numerology” tries to find reality within various measurements of economic and real estate trends.Buzz: Deep discounts on California homes shrank this spring – especially to the south – as the purchasing pace is almost historically sluggish.Source: My trusty spreadsheet reviewed May’s homebuying report from the California Association of Realtors.Fuzzy math: Is the springtime pri
There’s good news coming for millions of renters. But there is still a long way to go to cool housing costs in the economy.After years of eye-popping price increases, renters may finally be getting some relief.Rent prices fell 0.5 percent in May compared with the year before, according to data from Realtor.com released Monday. The firm’s tracking showedthat to be the first year-over-year drop since early inthe pandemic, when strong
Tax strategist David A. Perez helps real estate investors plan ahead to minimize their tax burden. Find out how his strategies can work for both active and passive investors Would you like to minimize your IRS tax burden and perhaps even reduce it to zero? If so, you need more than your typical tax preparer or CPA. You need a tax strategist who helps you plan your tax strategy long before you ever consider filing your taxes. I rece
Mortgage loan servicers collecting payments on loans guaranteed by Fannie Mae and Freddie Mac completed 2.36M 'home retention actions' during the COVID-19 pandemic Loan servicers collecting mortgage payments on loans backed by Fannie Mae and Freddie Mac kept millions of borrowers from being foreclosed on during the coronavirus pandemic, a report released Friday by the mortgage giants’ federal regulator shows.Unlike the 2007-09 housing bust
Often referred to as the jewelry of home design, try dressing up a home with these three lighting trends. The right lighting fixture can play a prominent design role, modernizing and upgrading the style of a space. I recently spotted several lighting trends while attending the recent Spring Market for designers in High Point, N.C. Here are a few:Black fixtures. Black is classic and dramatic, and it can fit into a traditional look or provide
Home construction surged in May and prices have ticked up, even with interest rates at a 15-year high. The resilience has surprised some economists. Gianni Martinez, 31, thought that it would be fairly easy to buy an apartment.Mortgage rates are now hovering around 7 percent — the highest they’ve been since 2007 — thanks to the Federal Reserve’s efforts to tame inflation. Central bankers have lifted their official policy rate to about 5 p
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