Topline Home builder confidence plunged to a new two-year low in August as higher interest rates, lingering supply chain problems and record home prices continue to exacerbate housing affordability ch...
Tag: mortgage
Wells Fargo reportedly planning retreat in mortgage business
Wells Fargo is planning a retreat in its mortgage activities, according to a published report. Bloomberg News, citing unnamed sources, reported the number-one mortgage originator of commercial banks i...
Mortgage rates jump back above 5%, but it’s not all bad news for homebuyers
‘A slight breather’: Mortgage rates jump back above 5%, but it’s not all bad news for homebuyers After falling below 5% for the first time in more than four months, the interest rate...
Wild swings in mortgage rates last week caused a rare surge in refinancing
An “Open House” sign at the Saratoga Homes Glendale Lakes community development in Arcola, Texas, on Tuesday, July 12, 2022. Mark Felix | Bloomberg | Getty Images After dropping at the end...
‘The real mortgage rate is a negative number.’ As inflation stubbornly sits at a 40-year high, do current mortgage rates look better than they seem?
What is the so-called ‘real mortgage rate’ and does it matter? Getty Images/iStockphoto I write about mortgage rates every week, but recently, I’ve heard some sources chattering about what’s called th...
Mortgage rates finally sink back below 5% — and home prices are cooling off too amid a market ‘reset’
Mortgage rates finally sink back below 5% — and home prices are cooling off too amid a market ‘reset’ U.S. mortgage rates are tumbling even after the Federal Reserve hiked its benchmark in...
A ‘shakeout’ among mortgage lenders is coming
A sign hangs from a branch of Banco Santander in London, U.K., on Wednesday, Feb. 3, 2010. Simon Dawson | Bloomberg via Getty Images Banks and other mortgage providers have been battered by plunging d...
I’m the chief economist of a mortgage firm that has funded more than $100 billion in loans. These are 3 things to know about the housing market now.
Cameron Findlay As home prices and mortgage rates march upwards, and housing inventory remains seriously constrained, many buyers are wondering: Should I buy? And if I want to buy, what do I need to k...
Following Fed’s Recent Hike And Negative GDP Report, Mortgage Rate Drops Significantly
Mortgage rates took a downturn following the Federal Reserve increased its benchmark rate. On Thursday, the popular rate on 30-year fixed mortgages came down to 5.22% from 5.54% on Wednesday. The rate...
I want to refinance my mortgage, but I’m about to turn 70. Is it wise to refinance at my time of life?
I hope you can help me figure this out. I am 69 years old and will turn 70 at the end of the month. I’ve been offered a cash out refinance loan and need to decide whether to take a 15- or 30-year loan...
China Home Sales Plunge in July, as Mortgage Revolt Deters Buyers
A nascent two-month recovery in China’s home sales ended in July, as a widespread mortgage revolt over concerns that ailing property developers wouldn’t be able to deliver still-unfinished apartments ...
The Fed’s rate hike means ‘mortgage rates are going to continue to rise’: Economist
Mortgage rates have been steadily rising over the past year, and with the Federal Reserve’s latest rate hike, there likely won’t be a slowdown any time soon, according to one economist. The rise in in...
Digital Asset Macro Environment | Q2’22 Update
July 29, 2022, 1:06PM EDT • 1 min read Quick Take Update on Q1’22 Digital Asset Macro Environment(1) Analysis and impact of current inflation market Wall Street remains bullish long term on public dig...
Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on...
Worried about mortgage interest rates? Here’s what the Fed’s rate hikes mean
Federal Reserve Chairman Jerome Powell in June. (Jacquelyn Martin / Associated Press) If you’re in the market for a new mortgage or if you have one with an adjustable interest rate, you may worr...
Pending Home Sales Plunge In June As Demand Is Weighed Down By Surging Mortgage Rates
Topline Pending home sales—a leading indicator for housing market activity—plunged by a more than expected 20% in June compared to a year ago, according to new data from the National Association of Re...
Pending home sales fell 20% in June as mortgage rates soared
A “Sale Pending” sign outside a house in Discovery Bay, California, on Thursday, March 31, 2022. David Paul Morris | Bloomberg | Getty Images Signed contracts to purchase existing homes dr...
Mortgage demand declines further, even as interest rates drop a bit
A prospective home buyer is shown a home by a real estate agent in Coral Gables, Florida. Joe Raedle | Getty Images Mortgage demand edged lower for the fourth straight week, according to data released...
With mortgage rates nearly doubling since last year, it’s ‘increasingly clear’ a correction is coming
With mortgage rates nearly doubling since last year, it’s ‘increasingly clear’ a correction is coming The interest rate on America’s most popular home loan moved higher this week amid record-high infl...
How To Survive Foreclosure On Your Home
Foreclosure notice and keys on a court table. getty What are the tax consequences if you lose your house to foreclosure? After going into a recession, it’s good to be informed about the threat, and wh...
Adjustable-rate mortgage vs. fixed-rate mortgage: Which one is better for you?
Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh financial decisions. Our columnist will give her verdict. Tell us whether you think she’s right in the comments. A...
Mortgage demand drops to lowest level in 22 years
Daniel Acker | Bloomberg | Getty Images The pain in the mortgage market is only getting worse as higher interest rates and inflation hammer American consumers. Mortgage demand fell more than 6% last w...
Crypto Mortgage Company Has Given Out $10 Million in Loans Since April
Crypto Mortgage company Milo Credit is offering global crypto users access to financial solutions outside of traditional finance. Despite the crypto winter, crypto life seems to be powering on. Milo C...
The Fed’s next interest rate hike ‘might be the biggest in decades.’ So we asked 6 real estate pros: What might that do to mortgage rates?
What might happen to mortgage rates soon? Getty Images/iStockphoto Word on the street is that the Federal Reserve may raise rates by 1% at their July 26 meeting — as they try to quell inflation that n...
Xi Faces Surprise Revolt From Chinese Homebuyers on Mortgage Boycott
(Bloomberg) — Over the past few years, President Xi Jinping has reined in China’s biggest tech companies, stamped out democracy in Hong Kong and locked down 26 million people in Shanghai to elim...
US Mortgage Rates Jump on US Inflation Numbers
In the week ending July 15, mortgage rates bounced back from a two-week slump. 30-year fixed rates jumped by 21 basis points, partially reversing a 40-basis point tumble from the previous week to end ...
China Mortgage Boycott Data Erased by Censors as Crisis Spreads
(Bloomberg) — China is censoring crowd-sourced documents tallying the number of mortgage boycotts spreading across the country, potentially hampering a key source of data for global investors an...
‘I’m in a very lucky position’: I will receive a $300,000 inheritance. Should I pay off my mortgage or invest the money?
I currently owe $300,000 on my house with a 2.5%, 30-year mortgage. I am maxing out my retirement accounts — IRA and 401(k) — and looking to retire in less than 10 years. I will receive an inheritance...