Today’s mortgage and refinance rates  Average mortgage rates soared yesterday, rising by a greater amount than we’ve seen in a long time. Of course, they’re still very low in a […]…Continue readingMortgage and refinance rates today, February 26, 2021

The agency will allow an additional three months of forbearance for loans backed by Fannie Mae and Freddie Mac, giving homeowners up to 18 months to suspend payments due to the pandemic.…Continue readingFHFA announces further extension of COVID-related mortgage relief

Today’s mortgage and refinance rates  Average mortgage rates nudged higher yet again yesterday. Of course, these rates remain exceptionally low by historical standards and are at dream levels for most. […]…Continue readingMortgage and refinance rates today, February 25, 2021

Today’s mortgage and refinance rates  Average mortgage rates rose yet again yesterday. But it was the smallest increase for a couple of weeks. Is that any consolation? Unfortunately, mortgage rates […]…Continue readingMortgage and refinance rates today, February 24, 2021

Thomas A. Ferrara/Newsday RM via Getty Images)Mortgage rates reached their highest level since November last week, cooling off home purchase and refinance applications ahead of the all-important spring selling season.

The post Rising Rates Damp Mortgage Applications Ahead of Spring Selling Season appeared first on Real Estate News & Insights | realtor.com®.

…Continue readingRising Rates Damp Mortgage Applications Ahead of Spring Selling Season

Today’s mortgage and refinance rates  Average mortgage rates rose again yesterday. And the rise was sharper than looked likely first thing that morning. When we say that markets can turn […]…Continue readingMortgage and refinance rates today, February 23, 2021

Today’s mortgage and refinance rates  Average mortgage rates edged up again last Friday. That was disappointing after Thursday’s small fall. But hardly a surprise, given the sharp rises earlier in […]…Continue readingMortgage and refinance rates today, February 22, 2021

Independent mortgage banker recovery drove the weekly decrease in forbearance share, according to the Mortgage Bankers Association.…Continue readingForbearances drop as extensions provide a ‘smooth transition’

Posted To: MBS Commentary

Bond yields have been surging higher in February with last week bringing the sharpest losses so far. The move has surprised more than a few market participants. To be sure, the pace of selling doesn't seem to fit with the economic reality at first glance. Moreover, the higher yields have gone, the more expectations have increased for a technical correction. In other words, we have to find a ceiling soon, even if it's only temporary. It looked like we found that ceiling in the middle of last week, but Friday saw yields break to new highs. Now as the new week begins, we have more new highs (overnight) and more new hope for a ceiling bounce as bonds are rallying early. On the data front, this week's headliners include Durable Goods, Core PCE, and the 5/7yr Treasury auctions. With the...(read more)

…Continue readingMBS Week Ahead: Battle to Find a Rate Ceiling Continues

Posted To: MND NewsWire

The volume of mortgage applications declined again last week, the fourth loss out of the six full weeks since the year began . The Mortgage Bankers Association (MBA says that its Market Composite Index, a measure of application volume, has lost an aggregate of 9.6 percent since the week ended January 1. In the most recent week, which ended February 12, the index was down 5.1 percent on a seasonally adjusted basis and 4.0 percent before adjustment. The Refinance Index decreased 5 percent from the previous week although it remains 51 percent higher than the same week one year ago. The refinance share of mortgage activity decreased to 69.3 percent of total applications, from 70.2 percent during the week ended February 5. The Purchase Index was down 6 percent on a seasonally adjusted basis and...(read more)

…Continue readingMortgage Volumes Resume Downward Trend as Rates Rise