Closing rates for mortgage loans were at the highest level in June since Ellie Mae began collecting the data in 2011. The company, in its June Origination Insight Report , said 76.8 percent of all loans closed , up from a rate of 75.6 percent the previous month. Closing rates on purchase loans hit 78.8 percent while the rate for …

The residential construction numbers in June were expected to come in largely in the same neighborhood as in May. Analysts however got it only half right. While starts fell fractionally, permits took a dive, falling by 6.1 percent compared to the previous month. The U.S. Census Bureau and Department of Housing and Urban Development said permits for residential construction were …

Builder confidence rose slightly in July. The National Association of Home Builders (NAHB) said its Housing Market Index (HMI), which it sponsors with Wells Fargo, gained one point, rising to 65. This marks the sixth consecutive month that sentiment levels have held at a steady range in the low- to mid-60s. NAHB Chair Greg Ugalde said, “Builders report solid demand …

Mortgage rates were mostly flat to begin the new week, even though underlying bond markets were in stronger territory. Bonds, more than anything else, dictate the day-to-day direction for mortgage rates. That said, there are different varieties of bonds as well as different levels of willingness to react on the part of mortgage lenders. In today’s case, the bonds that …

Mortgage rates moved decisively higher this week as the underlying bond market finally began shifting gears. After the Fed meeting in June, rates moved to the lowest levels in more than 2 years and had been holding in a narrow range since then. The risks of a breakout were set to increase as the market digested several key events. One …

Consumers are beginning to buy into the idea that mortgage rates might go down, at least according to responses to the June National Housing Survey (NHS) . However, that may not mean they have a lot of confidence in housing overall. Fannie Mae says its Home Purchase Sentiment Index (HPSI), based on some NHS questions, dipped a half-point from its …

Mortgage rates moved higher today following higher-than-expected job creation in a report from the Labor Department. The Employment Situation (aka “the jobs report”) is the most important monthly economic report. That’s especially true for interest rates as no other data is as consistent a source of guidance and volatility. Today’s was no exception. In fact, it was being watched a …

Mortgage rates moved down today by varying amounts depending on the lender. In some cases, lenders weren’t offering much of an improvement over yesterday. Those lenders are more likely to improve tomorrow, or at least we can say they’ll be starting with an advantage. Other lenders made use of their advantage today. The advantage in question came courtesy of a …