Mortgage Rates Flat to Lower After Yellen Speech

Feb 11, 2016

Fed Chair Janet Yellen's speech came and went without mortgage markets taking much notice. However, that is probably exactly what she intended: not to rock the boat.Nevertheless, mortgage rates did improve marginally after her speech, although the improvement might only be apparent with many...

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Lowest Mortgage Rate in a Year Offers Golden Opportunity

Feb 9, 2016

People who want to purchase a home, access their home equity or refinance their current home loans now have a golden opportunity as mortgage rates have dropped to their lowest level in nearly a year.   For the majority of lenders, this equates to a rate of 3.625% on a conventional 30-year...

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Market Share of Cash Sales Dropping Steadily

Feb 5, 2016

In January 2011, cash sales made up 46.6% of all home purchases. This figure has been dropping steadily since then, and CoreLogic reports that it stood at 33.9% in October last year. This was 2.6% lower than it was in October 2014, although it was 1.4% higher than the previous month.   This...

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Mortgage Applications Lower in Last Week of January

Feb 4, 2016

The latest Weekly Mortgage Applications Survey released by the Mortgage Bankers Association showed that mortgage applications dropped by 2.6% during the week ending on January 29. This came after dramatic increases during the previous three weeks.   The MBA adjusted its index for the week...

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Mortgage Rates Hit Eight-Month Low

Feb 3, 2016

Monday was yet another good day for those who are thinking of buying a home or accessing their home equity, with mortgage rates starting the day off stable to higher and then dropping to their lowest levels since the first half of last year.   After Monday's improvement, rates are now even...

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Construction Spending Remains Virtually Flat in December

Feb 2, 2016

Although construction spending remained virtually flat in December, the figure for 2015 as a whole was still quite impressive. The $1,116.6 billion spent in December was only 0.1% higher than November’s number, but it was still 8.2% higher than it was in December 2014.   The US Census Bureau...

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Mortgage Rates Unchanged to Better after Fed Meeting

Jan 28, 2016

Yesterday was the long-awaited date for the January Fed meeting. As widely expected, there was no talk of a rate increase this time around.   Investors and borrowers were interested in this meeting because it was the first one after the Fed announced a rate increase last month, and the way...

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