mortgage applications
Mortgage

Why Mortgage Applications Continue to Decline

By Anita Cooper | August 18, 2022
According to recent data, mortgage applications are at their worst in 22 years. Just a short time ago, it seemed everyone was in a rush to either buy a home or refinance, but now Americans have put the brakes on the housing market.  There are several reasons for the dip in mortgage applications, including mortgage rates, inflation, […]
15 year mortgage
Mortgage

Why a 15-Year Mortgage is Better than a 30-Year Mortgage

By Ben Shepardson | August 17, 2022
Nearly 87% of people who buy homes finance their home purchases. While many choose 30-year loans, some choose a 15-year mortgage. Financing a home is the easiest way to buy a house. After all, it allows you to pay off your home for the next 15 to 30 years instead of saving enough money to pay cash for […]
Housing, Mortgage

Refinance applications jump on wild swings in mortgage rates

By Mike Wheatley | August 12, 2022
Mortgage rates last week rebounded, having dropped towards the end of July. As a result, mortgage demand was split, with refinancing applications moving higher while homebuyer applications fell, according to the latest data from the Mortgage Bankers Association. The data shows that the average contract interest rate for a 30-year fixed-rate mortgage with a conforming […]
Housing, Mortgage, Real Estate

Mortgage applications rise amid strong demand for ARMs

By Mike Wheatley | June 24, 2022
Mortgage applications surprisingly jumped 8% last week compared to the previous seven day period, boosted by demand for adjustable-rate mortgages, according to the Mortgage Bankers Association. However, applications are still down 10% compared to one week ago. The MBA said that last week’s jump in mortgage rates may have actually increased homebuying demand, as consumers […]
ARM
Mortgage, US Real Estate

More Home Buyers are Reaching for ARMs

By Brian Kline | May 22, 2022
The demand for homes remains robust. Despite 30-year mortgages being firmly above a 5% interest rate, mortgage applications for home purchases increased 5% in mid-May. That’s not surprising because springtime is the busiest season for home purchases. What is different this year is that buyers are turning to adjustable rate mortgages in higher numbers than […]
Housing, Mortgage

Higher rates may prompt homeowners to stay put, but how will that impact inventory?

By Mike Wheatley | April 22, 2022
Approximately half of American homeowners who currently have a mortgage enjoy a rate of less than 4%. Given that interest rates are now closer to 5%, experts say this could prompt many to stay put, possibly resulting in more pressure on the already-low inventory of homes for sale. The thinking is that homeowners who’re locked […]
ROI Investment
Mortgage

Why A Mortgage Broker Is Necessary For First-Time Home Buyers

By Mike Wheatley | April 20, 2022
Mortgage brokers serve as a conduit between customers and lenders, and they can make a significant difference in your search for the ideal loan.  If it's your first time buying a house, you should know that you will be making a considerable investment. Thus, working with a mortgage broker can benefit you in many ways.  […]
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