Wednesday , 23 October 2019

Mortgage News Daily

Mortgage News Daily

Homebuyers Aren’t Big on Mortgage Shopping; Lowest Rates Since November 2016

Doug Duncan, Fannie Mae’s chief economist, says homebuyers need to do more shopping around before they settle on a mortgage lender. Results from a recent National Housing Survey shows that one-third of consumers who bought a home last year got only one mortgage quote. Duncan’s report notes that consumers are typically “keen” to compare prices before buying ordinary goods or …

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China Takes Center Stage; Rates/Stocks Plummet; Affordability’s Impact on Home Price Trends

Mortgage rates were already in great shape on Friday after having fallen to the lowest levels since November 2016. Rather than draw inspiration from the week’s big ticket events (Fed announcement and jobs report), the biggest source of inspiration was a flare-up in trade tensions following Trump’s announcement of new tariffs on Chinese imports. Trade war drama flared over the …

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Coming Off “The Patch” is Gonna Hurt The Mortgage Market; Rates Drop to New Multi-Year Lows

Mortgage rates fell again on Friday as lenders finally saw recent bond market gains stabilize enough to act on. In other words, lenders don’t always keep their mortgage rate offerings moving in lock-step with the underlying bond market (which dictates rates over time). This helps protect them from potential volatility, which ultimately allows them to keep rates lower than they …

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Stellar Home Sales Report; Home Price Resiliency; Rates Calm Before Storm; What Does it Take?

Pending home sales put in an especially strong performance in June , the second consecutive positive report as well as the fourth in five months. The National Association of Realtors® (NAR) said its Pending Home Sales Index (PHSI), a forward-looking indicator based on contracts that are signed to purchase existing homes rose 2.8 percent to 108.3 compared to 105.4 in …

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