Rates Exceed 6%, Applications Tumble
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Rates Exceed 6%, Applications Tumble

ByTMN Editor Reading Time: 2 minutes

Mortgage loan application volume fell last week as mortgage rates topped 6% for the first time since 2008, nearly doubling year over year. The Mortgage Bankers Association’s weekly survey shows that the adjusted Market Composite Index, a measure of mortgage loan application volume, decreased by 1.2%. The adjusted purchase index rose 0.2%, while the unadjusted…

Are Million-Dollar Conforming Loan Limits A Market-Crash Flashback?
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Are Million-Dollar Conforming Loan Limits A Market-Crash Flashback?

ByTMN Editor Reading Time: 2 minutes

By KIMBERLEY HAAS Mortgage giants Fannie Mae and Freddie Mac have raised their limits on government-backed loans to $647,200 in most of the country and nearly $1 million in some high-cost American communities.  Does that mean lenders are repeating the same mistakes which led to the 2008 crash? This 18% hike in the size of conforming loans…

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