Mortgage Mix: Modest Decline in Rates and Applications
Mortgage rates sit at high levels while applications continue a decline.
Source: rismedia.com
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Monthly mortgage payments rise for fourth consecutive month
Home purchasers had to come up with 0.9% more in April versus what they would have paid in March and 11.8% higher on a year-over-year basis, the Mortgage Bankers Association said.
Source: nationalmortgagenews.com
The Fed is likely to pause on rate hikes at next meeting
But the country is still likely heading towards a recession and it could be deeper than previously thought, Mortgage Bankers Association Chief Economist Mike Fratantoni said.
Source: nationalmortgagenews.com
Fannie Mae pushes recession start out to 2H23
The economic situation is more like what happened during the mid-'80s thrift crisis than the 2008 downturn, said Chief Economist Doug Duncan.
Source: nationalmortgagenews.com
Fed could still raise short-term rates next week
Inflation is the top factor in Chairman Jerome Powell's point of view and that will likely determine if there is no increase or a 25 basis point hike, mortgage industry economists said.
Source: nationalmortgagenews.com