Mortgage rates hold steady at 3.18%

Mortgage rates hold steady at 3.18%

The average U.S. mortgage rate remained essentially unchanged last week, rising by just one basis point to 3.18%, according to Freddie Mac’s Primary Mortgage Market Survey. A broader recovery of the economy has almost returned rates back to market “normalcy” as the...
Invisible Stimulus Package: Homeowners Who Refinance

Invisible Stimulus Package: Homeowners Who Refinance

A few things gained significant popularity in 2020: sourdough starters, home exercise equipment and refinancing for existing homes. Refinancing has been on fire since early 2020, when mortgage interest rates continued on a steep downward slope toward 2%. Mortgage...
Mortgage Applications Decrease in Latest Weekly Survey

Mortgage Applications Decrease in Latest Weekly Survey

Mortgage applications decreased 2.5 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 19, 2021. The Market Composite Index, a measure of mortgage loan...
Hot Housing Market Fuels a Rise in Homeowners’ Equity

Hot Housing Market Fuels a Rise in Homeowners’ Equity

LOS ANGELES (AP) – The red-hot U.S. housing market is paying off for many homeowners, even those who aren’t looking to sell their home. On average, homes with a mortgage gained $26,300 in equity in the last three months of 2020 versus a year earlier, according to real...
Senator Outlines Goals for Mortgage Reform

Senator Outlines Goals for Mortgage Reform

WASHINGTON – Due to troubles created by the Great Recession, Fannie Mae and Freddie Mac are under government control, a situation Congress has been trying to correct. While homebuyers and sellers don’t deal directly with Fannie and Freddie, they have an oversized...

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