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Independent mortgage banks and mortgage subsidiaries of chartered banks saw a net gain of $480 on each originated loan during the third quarter
Q3 Profits Down for Indie Mortgage Banks
Independent mortgage banks and mortgage subsidiaries of chartered banks saw a net gain of $480 on each originated loan during the third quarter, according to new data from the Mortgage Bankers Association (MBA). This is lower than the $580... Read more
The latest mortgage rate data from Freddie Mac found little in the way of movement
Mortgage Rates Hold Steady
The latest mortgage rate data from Freddie Mac found little in the way of movement.   The 30-year fixed-rate mortgage (FRM) averaged 4.81 percent for the week ending Nov. 29, unchanged from last week. The 15-year FRM this week averaged 4.... Read more
The National Association of Realtors (NAR) reported that its Pending Home Sales Index (PHSI) dropped by 2.6 percent to 102.1 in October
Pending Home Sales Down 2.6 Percent
The National Association of Realtors (NAR) reported that its Pending Home Sales Index (PHSI) dropped by 2.6 percent to 102.1 in October, down from 104.8 in September. Compared to one year earlier, the PHSI was down by 6.7 percent, which... Read more
Luxury home prices during the third quarter rose 3.2 percent year-over-year to an average of $1.7 million, the lowest growth rate since the fourth quarter of 2016, according to new data from Redfin
Luxury Home Prices at Lowest Growth Rate in Two Years
Luxury home prices during the third quarter rose 3.2 percent year-over-year to an average of $1.7 million, the lowest growth rate since the fourth quarter of 2016, according to new data from Redfin.   West Palm Beach, Fla., experienced the... Read more
Federal Reserve Chairman Jerome Powell raised the possibility that the central bank is willing to hit the brakes on interest rate hikes in the near future
Powell Hints at Slowdown on Fed Rate Hikes
Federal Reserve Chairman Jerome Powell raised the possibility that the central bank is willing to hit the brakes on interest rate hikes in the near future.   The Federal Open Market Committee (FOMC), the central bank’s policy making arm,... Read more
Sen. Sherrod Brown (D-OH), the ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has published a 36-page report criticizing how Mick Mulvaney has run the Consumer Financial Protection Bureau
Dem Report Slams Mulvaney’s CFPB Role
Sen. Sherrod Brown (D-OH), the ranking member of the U.S. Senate Committee on Banking, Housing, and Urban Affairs, has published a 36-page report criticizing how Mick Mulvaney has run the Consumer Financial Protection Bureau (CFPB) during... Read more
The U.S. lodging sector is on course for a tenth consecutive year of growth in 2019, according to a new forecast from CBRE Hotels Americas Research
CBRE: Lodging Sector to See Continued Growth in 2019
The U.S. lodging sector is on course for a tenth consecutive year of growth in 2019, according to a new forecast from CBRE Hotels Americas Research.   The new forecast anticipates a 66.2 percent increase in hotel occupancy next year, which... Read more
Next year will be marked by increasing mortgage rates and decreasing affordable homeownership opportunities, according to a new forecast from Zillow
Zillow Predicts 5.8 Percent Mortgage Rate in 2019
Next year will be marked by increasing mortgage rates and decreasing affordable homeownership opportunities, according to a new forecast from Zillow.   Zillow is predicting the 30-year fixed mortgage will be at 5.8 percent by the end of... Read more
Although business activity during the week of Nov. 19 was truncated due to the Thanksgiving holiday, homebuyers were on the prowl for mortgages, according to new data from the Mortgage Bankers Association (MBA)
Mortgage Applications Up, Home Sales Down
Although business activity during the week of Nov. 19 was truncated due to the Thanksgiving holiday, homebuyers were on the prowl for mortgages, according to new data from the Mortgage Bankers Association (MBA).   The Market Composite... Read more
When it comes to a homebuyer’s debt-to-income (DTI) ratio, the city with the greatest debt level is Honolulu, according to a data analysis by Realtor.com
The City with the Highest DTI Ratio Is …
When it comes to a homebuyer’s debt-to-income (DTI) ratio, the city with the greatest debt level is Honolulu, according to a data analysis by Realtor.com.   Honolulu boasts a median list price of $692,600 and a median mortgage borrower’s... Read more