New home sales sprang back to life in September, according to newly released data from the U.S. Census Bureau and the Department of Housing and Urban Development. Sales rose by 12.3% from August to a seasonally adjusted annual rate of 759,000. This is well above the rate of 680,000 units predicted by economists. The median…
Mortgage applications slipped again last week as treasury yields swelled to new highs. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 1%, a more moderate decline than the week prior’s 6.9% dip. Adjusted purchase applications slipped by 2%, while the…
Consumer sentiment is stuck in the pits thanks to soaring mortgage rates. Fannie Mae’s Home Purchase Sentiment Index sank further in September, down by 2.4 points to 64.5. The full HPSI is up 3.7 points YOY, a decline from August. Five of the index’s six components fell month-over-month. The home price expectations component increased, resulting…
Mortgage applications slipped again last week as purchase activity fell to its lowest level since 1995. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – declined by 1.3%, down from the week prior’s 5.4% increase. Adjusted purchase applications sank by 2%, while the…
Pending home sales were up in July, marking a second month of increases, but there is still lots of room for improvement. NAR’s Pending Home Sales Index rose by 0.9% to a reading of 77.6 in July. An index of 100 is equal to the level of contract activity in 2001. “The small gain in…
High rates are making top originators nervous about the next six months. Scotsman Guide asked mortgage pros who qualified for their Top Originator rankings how they expect their businesses to fare in the next six months. Their answers were tepid, with an eye on uncertainty. The biggest change came from the percentage of originators who…
Mortgage applications slipped slightly last week as rates rose again. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – fell by 0.8%, a much softer decline than the week prior’s 3.1% drop. MBA attributes recent declines to rising rates. The average interest rate…
Mortgage applications dipped last week as rates hit their highest level since November 2022. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 3.1%, adding to the week prior’s 3% decline. Adjusted purchase applications fell by 3%, while the unadjusted index…
Mortgage applications slipped again last week as rates neared 7%, with purchase apps falling to their lowest level since the beginning of June. The Mortgage Bankers Association’s weekly survey shows the adjusted Market Composite Index – a measure of mortgage loan application volume – decreased by 3%, adding to last week’s 1.18% decline. Adjusted purchase…
Clever Real Estate announced a suite of integrated products for lenders to protect their purchase pipeline, increase conversations, and close more loans. Clever Pro is an all-in-one solution for mortgage lenders composed of five products. Each one helps lenders to drive higher profits and maximize performance, according to company leaders. Tony Cahal, SVP of Clever…
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