By ERIN FLYNN JAY Further rate cuts by the Federal Reserve could spur a resurgence in home equity withdrawals. The November ICE Mortgage Monitor Report shows that at the end of Q3 2024, U.S. mortgage holders held $17.2 trillion in equity, of which $11.2 trillion is ‘tappable.’ That means it can be borrowed against with…
First-time homebuyers accounted for a record number of GSE purchase loans in 2023, while originations sunk to new lows, according to ICE’s latest Mortgage Monitor. They made up 55% of agency purchases last year, the highest share ever recorded by ICE in the ten years it has been tracking this metric. “The market in which…
The housing market may be impossible for the average American now, but hold on a while longer: it’s heading in the right direction. That’s ICE’s message, at least, with its latest Mortgage Monitor report, which revealed a mix of good and not-so-good data about the state of homebuying. Affordability is improving, for one, as rates…
Mortgage activity dipped in August as rates reached new highs and inventory remained low, according to Black Knight’s latest Mortgage Monitor report. The 30-year conforming soared above 7.25% last month, its highest level in more than 20 years, before cooling down to 7.07%. As a result, overall rate lock volumes sank for a third straight…
Rate lock volumes sank in July as mortgage rates exceeded 7% for the first time since November 2022. Black Knight’s Optimal Blue Mortgage Market Indices for July found that 30-year conforming rates cross 7% early in the month before bouncing down and up again, ultimately ending the month at 6.88%. In line with rising rates,…
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