Mortgage Applications Hit 25 Year Low

Mortgage Applications Hit 25 Year Low

Application Volume Plunges to 25 Year Low The Mortgage Bankers Association (MBA) said the continuing rise in interest rates and the devastating hurricane that hit Florida and the Carolina’s contributed to a double-digit decline in …

Quantitive Easing's Positive Legacy

Quantitative Easing’s Positive Legacy for US Mortgage Holders 

Quantitative Easing’s Positive Legacy for US Mortgage Holders As the Federal Reserve raises rates in an effort to stifle inflation, what are the implications for US mortgage holders? The Fed purchased, in gross, $1.24 …

UK Bond Yields Spike

UK Bond Yields Do Monster Spike

UK Bond Yields Do Monster Spike, Pound Plunges as Bond Vigilantes Rise from Graves, Go after Government’s Fiscal Recklessness Bank of England: won’t "hesitate" to hike rates "as much as needed." Bond market fears much higher inflation …

US 'Housing Recession' Is Here

US ‘housing recession’ could send prices 20% lower by mid-2023 Ian Shepherdson, the chief economist at Pantheon Macroeconomics, said his firm’s estimates suggest home prices have already declined by about 5% from their May peak. His projections showed seasonally adjusted existing-home sale prices …

Does Fed Rate Change Affect Mortgage Rates?

Does Fed Rate Change Affect Mortgage Rates

No, The Fed Hike Doesn't Mean Anything For Mortgage Rates There's a common misconception that the Fed "sets" (or hikes/cuts) mortgage rates directly. There is often a belief that changes …

Mortgage Rates Surge

Mortgage Rates Surging to New 14-Year Highs There were no new or interesting reasons for today's rate spike. The bond market continues getting in position for this Wednesday's policy announcement from the Fed. Traders fear the Fed will--in a nutshell--do and say things …

Mortgage Rates Rebounding Aggessively

Mortgage Rates Rebounding Aggressively

Rates Rebounding Aggressively After Hitting Lowest Levels Since April All of the above is a product of the same environment where the underlying mortgage bond market is making it much easier for rates to make big moves. Unique market …

Mortgage Purchase Volume Has Another Strong Week

Purchase Volume Has Another Strong Week Mortgage application volume continued its recovery last week driven by a second strong increase in purchasing activity. The seasonally adjusted Purchase Index increased 5 percent on both a seasonally adjusted and an unadjusted basis. "Despite …

Fed Raises Interest Rates by 0.50%

Largest move since 2000

Fed raises interest rates by 0.50%, largest move since 2000

Fed raises interest rates by 0.50%, largest move since 2000 Fed raises rates by 50 basis points, will begin shrinking balance sheet June 1 …

40% More Income Needed To Afford Home In The Sunbelt

40% More Income Needed To Afford Home In The Sunbelt

Pandemic Homebuyers Flocked to the Sun Belt for Better Prices. Now, You’ll Need 40% More Income to Afford a Home There. Homes are much less affordable than …