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Mortgage Applications Decrease During Last Week of May
Mortgage applications decreased 2.3% from one week earlier, according to the latest Weekly Mortgage Applications Survey from the Mortgage Bankers Association’s (MBA), released Thursday. The drop marks the third straight week of declines, indicating that market headwinds continue to hinder both refinancing and new mortgages. Key findings: The Market Composite Index, a measure of mortgage loan […]
Refi Share of Freddie’s Volume Held Steady Last Month
Freddie Mac reported this week that its total mortgage portfolio increased at an annualized rate of 12.0 percent in November compared to a 15.7 percent gain in October. The portfolio balance at the end of the period was $ 3.211 trillion compared to $ 3.179 trillion the prior month and $ 2.734 trillion a year […]
Jobless Claims Dropped Sharply Last Week
While employment is gaining momentum, layoffs are still happening and are significantly elevated compared to pre-pandemic. www.nar.realtor – Research
Pending Home Sales Retreat 2.8% in January, but Climb From Last Year
Pending Home Sales Retreat 2.8% in January Pending home sales took a step backward in January as inventory constraints continue to hold back prospective buyers. Media Contact: Quintin Simmons 202-383-1178
Layoffs Continue to Drop to the Lowest Level Within the Last Two Months
The number of people seeking unemployment benefits fell further for third straight week to the lowest level in the last couple of months. It seems that the worst months for the labor market could be behind us. www.nar.realtor – Research
Forbearances Up Slightly After Last Week’s Plunge
Last week Black Knight reported that the beginning of October saw a decline in the number of active forbearance plans of 649,000 or 18 percent as many plans reached the end of their initial period. It was the largest single week decline since the crisis began. This week the number of loans in forbearance edged […]
New Claims for State Unemployment Benefits Increased Last Week
Unadjusted new jobless claims totaled 857,148 in the week ending September 5, an increase of 20,140 (2.4%) from the previous week. www.nar.realtor – Research
Layoffs declined slightly to 1 million last week
A drop in claims for unemployment checks implies that even with new layoffs there are job creations and people are able to come off unemployment. www.nar.realtor – Research
Still Reeling From Last Week, Mortgage Rates Tiptoe Lower
Mortgage rates managed to improve modestly for the average lender today, but they remain significantly higher than they were before last week’s regulatory drama . By the time we consider the size, scope, and the precipitous imposition of the new refi fee, we’ve never seen anything remotely similar. Lenders were definitely taken by surprise and […]