Economists are scratching their heads and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than two decades. Continue reading
Demand for purchase loans fell 1 percent last week compared to the week before, and was down 41 percent from a year ago, according to a new Mortgage Bankers Association survey released Wednesday. Continue reading
If mortgage rates rise by another half a percentage point — or if home prices go up another 5 percent — affordability will hit the worst levels on record, Black Knight warned on Monday. Continue reading
ARM loans accounted for 17 percent of mortgage applications by dollar volume, with the average borrower seeking a $728,900 loan. Continue reading
No new LIBOR loans will be allowed after this year, but there’s also the matter of what to do with roughly $1.4 trillion in existing loans tied to LIBOR. Continue reading