MortgageNewsDaily.com reports that according to Ice Mortgage Technology (formerly Ellie Mae), in their Loan Origination Report for January, “closed loans continued to show declining note rates in January, dropping from an average of 2.93 percent in December to 2.88 percent” and also includes “Interest rates continued to decline in January, driving up the share of refinances by seven percent,”
There is a lot of talk and prediction about the future of mortgage interest rates and home sales prices. The variables that lie in the future for both of these topics will happen. What does this mean for those of us who are considering refinancing or purchasing a home? It means that interest rates and home prices may go up or may go down.
The Builder Confidence Index has been in existence for 35 years as a gauge of Builders confidence in the future of single-family home sales. The Index matched the all time record high from 1998.
A recent article by CNBC.com provides an excellent overview of the details that report a historic increase in existing home sales in June over May. The key points they present include respected sources like the National Association of Realtors:
The impacts of the current Pandemic social distancing orders and essential only travel bans has affected all of our lives in different ways.
The percentage of refinance loans increased to 55% in March, with growth occurring across every type of loan. The average interest rate for 30 year fixed rate loans in March was the lowest it has been since January of 2013.
Should you buy a home during the Covid-19 pandemic, and how can you buy a home when many areas across the nation are under stay-at-home orders.
The professional mobile notaries at Notary Near You have chosen a career in the Real Estate industry, so we spend time researching current trends that may affect our customers.
Fannie Mae’s November National Housing Survey rose 11 percentage points to a net of 32 percent, 9 points higher than in November 2018 and its highest point since March 2018.
Fannie Mae’s Home Purchase Sentiment Index (HPSI) hit a record high in July 2019, according to an article on FannieMae.com. They state that the increase results from “Confidence About Not Losing Job” as well as other factors.