Mortgage Refinance Demand Plunges 14%, as Interest Rates Spike Higher
Fast-rising mortgage rates are causing a drop in mortgage demand, especially refinances.
Source: nbcnewyork.com
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Homebuyers and owners scramble to secure low mortgage rates before more hikes come
Mortgage rates have marched up by a full percentage point since the beginning of 2022, hitting 4.16% this week.
Source: aol.com
Forbearances up in latest week, but down from last month
Private-market loans nudged the total number up during a processing lull, according to Black Knight.
Source: nationalmortgagenews.com
Higher mortgage rates add to homebuying challenge
Home prices remain high, and rising borrowing costs are adding to the challenge of buying a home heading into the traditional spring selling season.
Source: finance-commerce.com
Existing-home sales reach one-year high
Sales of previously owned homes unexpectedly increased to a one-year high as buyers rushed in ahead of a surge in mortgage rates, further depleting tight inventories to a record low.
Source: arkansasonline.com