Forbearance rate declines again, but the pressure’s coming
In the near-term, the number of loans in forbearance will likely increase also due to the devastation caused by Hurricane Ian Servicers’ forbearance rate declined marginally again in September, the Mortgage Bankers Association (MBA) reported Monday. But the trade group expects pressure in the co...
Home price growth decelerated in Q3
As mortgage rates rose and housing inventory increased, home price growth decelerated in the third quarter of 2022, according to the Fannie Mae Home Price Index (FNM-HPI) released Monday. The FNM-HPI found that home price growth was at an annualized rate of 13.2% in Q3 2022, down from 19.1% ...
Real Estate Trends: Where Are Housing Prices Coming Down The Most?
Key takeaways On average, housing prices are dropping, nationally. Housing markets that are cooling the most are concentrated on the West Coast. Rising interest rates and economic uncertainty are among the chief factors pushing home prices down. The housing market has been cruising up a one way stre...
Bank of America warns US economy could lose 175,000 a month soon
The pace of job growth could be nearly cut in half by the fourth quarter of this year. One of the largest banks in the U.S., Bank of America, is warning that the pace of job growth in the U.S. is expected to be cut by around half during the fourth quarter of this year. Read more......
Today’s mortgage and refinance rates: October 9, 2022 | You may want to consider an adjustable-rate mortgage
Rates are likely to remain elevated throughout the rest of 2022, but they could start to fall in 2023. In its most recent forecast, the Mortgage Bankers Association predicted that 30-year fixed rates will reach 5% by the end of 2023 and 4.4% by the end of 2024. For buyers who aren’t able to ...