Analysis from the Federal Housing Finance Agency finds that, while U.S. mortgage rates are not historically high, the gap between the rates existing homeowners are paying and would-be home buyers are facing has reached a point not seen in decades. The result is a “lock-in effect” that’s keeping the housing supply extremely tight, a problem that President…
Faced with inflation pressure and rising rates, many borrowers are seeking lower monthly mortgage payments in the form of ARMs or longer terms. But lower monthly payments come with a price. LendingTree analyzed 380,000 loans to determine how much more borrowers with 30-year loans pay than those with 15-year loans. They found that borrowers with…
Mortgage loan application volume rose 2% last week, the Mortgage Bankers Association’s (MBA) weekly survey reported. The seasonally adjusted Market Composite Index, a measure of mortgage loan application volume, rose 2%. The seasonally adjusted purchase index fell 5%, while the unadjusted purchase index rose 28% and was 8% lower YOY. The share of refinance applications…
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