Buyers rush to lock mortgages as rates move fast and furious
Black Knight data shows purchase loan locks jump while rate-term refi drop Mortgage origination activity rose last month despite rapidly rising mortgage rates as prospective buyers sought to lock in their loans. Overall origination activity jumped 19% in March from the previous month, led by a 31% i...
Why housing inventory is so low right now
Given the current housing inventory crisis, it might surprise people to realize this: we built too many homes during the housing bubble years. Wait, what? But we have a housing shortage, right? Yes, but this is where my work is much different from other housing economists and why we need to think of...
Now is basically the worst time ever to buy a house
Nearly three out of four survey respondents told Fannie Mae that it’s a bad time to buy a home It’s a depressing combination. A stunning rise in mortgage rates, historically low levels of inventory, and skyrocketing housing prices are fueling consumer pessimism. Fannie Mae‘s Home Purchase...
Mortgage delinquencies rose for the first time in 9 months. Here’s what that means for the housing market.
Plus, what home buyers and sellers should take from this news. Mortgage delinquencies are on the rise. Indeed, in February, the national delinquency rate rose for the first time in 9 months, largely driven by a 97,000 rise in early-stage delinquencies — or those that were 30 – 60 days past due, ...
Dallas Fed sees signs of a housing bubble
A housing bubble could be brewing, according to the Federal Reserve Bank of Dallas, as home prices “are again becoming unhinged from fundamentals.” The housing market has been showing signs of exuberance for more than five straight quarters through the third quarter of 2021, the Dallas Fed found...