The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances (7,200 or less) increased to 5.37% from 5.20%, the highest rate since 2009. The adjustable-rate mortgage share of applications last week was over 9% by loan count and 17% based on dollar volume. At 9%, the ARM share was double what it...
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Survey data suggests some relief is on the horizon for Americans grappling with one of the worst housing shortages of all-time. Almost two-thirds (64%) of prospective 2022 sellers anticipate listing a home within the next six months and with high expectations for making a profit. Whether these sellers follow-through with their plans will be key...
Buying a home just became a lot more expensive—and it’s expected to only get worse in the coming months. Mortgage interest rates surged to their highest point since March 2020—the earliest days of the coronavirus pandemic—indicating that the heady era of locking in rates in the 2% range on a traditional home loan appears to...