Mortgage Research Center

07/19/2022

The surge in home prices over the last two years has been an advantage for consumers who want to take advantage of their property’s equity and use the proceeds for renovations, education or to pay down debt. See how you can use your home's equity:

A surge in home values means mortgage lenders and banks can offer owners larger cash-out refinances, home equity loans and HELOCs. Here’s what you need to know.

06/30/2022

Mortgage rates in the U.S. reached the highest level since 2008, after gaining almost three-quarters of a percentage point since the beginning of June, according to a Freddie Mac report:

Higher interest rates and slowing home sales have tipped real estate into a “buyers market” after two years of sellers calling the shots.

06/15/2022

Almost a quarter of home sellers had to drop their property’s listing price in May, signaling a run-up in mortgage rates has softened demand for real estate, according to a Redfin report.

“Sellers are losing control of the housing market," Redfin's deputy chief economist said.

06/08/2022

U.S. companies added 390,000 jobs in May, beating the expectations of economists and giving the Federal Reserve support for continuing the monetary tightening it began in March.

The economy added 390,000 jobs in May, giving leeway to Federal Reserve policymakers to pursue an aggressive plan to tighten monetary policy.

05/11/2022

Consumer confidence in the housing market dropped to the lowest level since the early months of the Covid-19 pandemic, according to a Fannie Mae report on Monday.

Consumer confidence in the housing market dropped to the lowest level since the early months of the Covid-19 pandemic, according to a report on Monday.

05/10/2022

Home loan rates rose this week to the highest level in nearly 13 years after the Federal Reserve hiked its benchmark rate and laid out a plan to reduce the almost $6 trillion in Treasuries and mortgage bonds it purchased in the first two years of the pandemic.


https://www.mortgageresearch.com/news/mortgage-rates-spike-to-13-year-high-as-fed-cites-plans-to-offload-bonds/

The average U.S. rate for a 30-year fixed mortgage rose to the highest level since August 2009, Freddie Mac said in a report.

05/09/2022

The U.S. unemployment rate held steady at a pandemic low of 3.6% in April as companies added 428,000 workers, beating the expectations of economists by matching the gain of the prior month.

The U.S. unemployment rate held steady at 3.6% last month as the gain in payrolls beat economists' expectations.

05/03/2022

U.S. pending home sales fell 1.2% in March, the fifth consecutive month of declines, as rapidly increasing mortgage rates along with higher home prices and less inventory stymied buyers.

Signed contracts to purchase homes fell 1.2% in March to the lowest level in almost two years, according to the National Association of Realtors.

05/02/2022

The U.S. economy contracted in the first three months of the year as a record surge of Covid-19 infections engulfed the nation and exports sagged.

Gross domestic product in the first quarter fell 1.2% from a year earlier, the first contraction since the beginning of the pandemic, as Covid-19 infections surged.

05/02/2022

The Federal Reserve’s favorite inflation gauge slowed in March, the first retreat in more than a year, according to a report issued Friday in the run-up to next week’s meeting of the policy-setting Federal Open Market Committee.

The co-called “core PCE,” the Fed's favored inflation measure that excludes volatile food and energy prices, rose 5.2% in March from a year earlier, slowing from February's pace.

04/29/2022

The U.S. economy contracted in the first three months of the year as a record surge of Covid-19 infections engulfed the nation and exports sagged.


https://www.mortgageresearch.com/news/economy-gdp-contracted-in-first-quarter-as-covid-surged/

Gross domestic product in the first quarter fell 1.2% from a year earlier, the first contraction since the beginning of the pandemic, as Covid-19 infections surged.

04/26/2022

As the housing market enters the spring months when the bulk of transactions typically occur, it’s looking a lot like 2019, said Mark Fleming, chief economist at First American.

The U.S. housing market is showing signs of a return to pre-pandemic days, a First American economist said in a report.

04/25/2022

The U.S. economy probably will grow 3.1% this year even as the Federal Reserve tightens monetary policy to quell inflation, Goldman Sachs said in a forecast on Friday.

The world’s largest economy probably will expand 3.1% in 2022, the second-fastest pace in 17 years, Goldman Sachs economists said in a forecast.

04/21/2022

Sales of previously owned homes slipped 2.7% in March, the second consecutive monthly retreat, as a spike in mortgage rates and a shortage of properties stymied transactions.

Sales of previously owned homes declined as a shortage of listing inventory and the highest mortgage rates in more than a decade made it tougher to purchase a property.

04/21/2022

Mortgage rates surged to the highest level in a dozen years after speeches by Federal Reserve officials urged aggressive rate hikes to contain inflation.

The average U.S. rate for a 30-year fixed mortgage rose to the highest since April 2010, Freddie Mac said in a report on Thursday.

04/13/2022

Consumer prices driven by surging fuel costs gained 8.5% in March from a year earlier, the fastest inflation pace since the Reagan administration in 1981, according to a Labor Department report on Tuesday.

The so-called core reading of the consumer price index, stripping out volatile energy and food prices, showed a glimmer of good news, economists said.

04/13/2022

Americans who say now is a “bad time to buy” a home jumped to an all-time high of 73% last month, according to a report on Thursday from Fannie Mae.

Almost three-quarters of American consumers in March said they believed now is a “bad time to buy” real estate, a record high, according to a report from Fannie Mae.

04/11/2022

The daily average U.S. rate for a 30-year fixed mortgage eligible for backing by Fannie Mae and Freddie Mac rose above 5% last for the first time since 2018 as the Federal Reserve unveiled plans for a “rapid” reduction of its balance sheet to fight the worst inflation in a generation.

The daily average rate for a 30-year fixed mortgage rose above 5% on Wednesday for the first time since 2018, according to Optimal Blue rate-lock data.

04/06/2022

Home prices in the U.S. grew 20% in February from a year earlier, a record pace, as buyers competed for a limited amount of properties on the market, according to a report on Tuesday from CoreLogic.

04/04/2022

A critical measure of U.S. inflation in February surged to the highest level since Ronald Reagan was president as global supply chains snarled by the pandemic fueled price increases.

03/31/2022

Home prices in the U.S. rose 19.2% in January from a year earlier as buyers competed for a dwindling supply of listings for sale.

03/31/2022

The average U.S. rate for mortgages lent to the borrowers with the highest credit scores and 20% down payments rose above 4.5% this week for the first time in more than three years.

03/29/2022

The three largest credit reporting companies in the U.S. announced last week they will change the way medical debt is used to calculate the scores consumers need to qualify consumers for mortgages, car loans, and sometimes even jobs.

03/24/2022

Mortgage rates jumped a quarter of a percentage point this week, following a similar-sized increase in the prior seven days, marking the biggest two-week increase in more than a decade.

03/21/2022

The Federal Reserve’s tightening of monetary policy sent mortgage rates soaring to a three-year high last week, making it tougher for families to buy homes.

03/18/2022

Sales of previously owned homes declined to a six-month low in February as homebuyers faced rising home prices and increasing mortgage rates.

03/17/2022

U.S. home construction rebounded in February to the fastest pace since 2006 as builders sought to meet demand amid a shortage of listings for pre-owned properties.

03/16/2022

More than two-thirds of Americans are expecting mortgage rates to increase in the next 12 months, according to a Fannie Mae survey of consumer expectations.

https://www.mortgageresearch.com/news/americans-are-bracing-for-higher-mortgage-rates-fannie-mae-survey-shows/

03/14/2022

Consumer confidence fell in March to a nearly 11-year low as energy prices surged and shoppers remained concerned about the cost of food, appliances and housing.

https://www.mortgageresearch.com/news/consumer-sentiment-plunges-on-inflation-and-war/