News

Arnie Aurellano February 05, 2020 Data from the U.S. Census Bureau’s quarterly Residential Vacancies and Homeownership Survey revealed that the nation’s minority homeownership rate increased to 48.6% in fourth-quarter 2019. That’s up 0.8 percentage points from fourth-quarter 2018 and the highest figure since third-quarter 2011, when the rate reached 48.9%. The National Association of Home…

Jacob Passy February 12, 2020 The average rate for a 30-year fixed-rate mortgage now stands at 3.45%, the lowest since 2016 Mortgage rates are resting near record lows — and that’s spurring a wave of refinancing activity as Americans look to take advantage of the savings a cheaper interest rate could bring. Refinance loan volume…

Diana Olick January 31, 2020 Millions of borrowers can now save big on a mortgage finance as rates have hit the lowest level in more than three years. The average rate on the 30-year fixed mortgage just hit 3.49%, according to a survey by Mortgage News Daily, matching the lowest level since October 2016. That’s…

Phil Hall January 27, 2020 Three out of four Millennials believe that being a first-time homebuyer is an overwhelming process, according to TD Bank’s First-Time Homebuyer Pulse. But despite the emotional exhaustiveness, 68 percent of this demographic feel it’s a good time to buy a home and 52 percent said they were actively searching home listings…

Edward Seiler January 17, 2020 This week’s MBA Chart of the Week examines the reasons why fewer Americans are moving. The U.S. mobility rate, defined as the number of movers as a percentage of the population, has steadily declined since the mid-1980s, and the most recent U.S. Census Bureau data show that less than 10…

Diana Olick January 15, 2020 It was a seriously strong start to 2020 in the mortgage business for new home loans and refinances. Total mortgage application volume surged 30.2% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinancing led the surge, thanks to a drop in mortgage rates.…

Diana Olick January 3, 2020 The average rate on the U.S. 30-year fixed mortgage is now at the lowest level in a month, thanks to a run on the bond market overnight. Investors fled to the relative safety of bonds, after the U.S. confirmed an airstrike on Iran’s highest military commander. While mortgage rates are…

Mike Sorohan January 2, 2020 CONTESTANT: “I’ll take ‘Demographics’ for 2020, Alex.” ALEX TREBEK: “Fort Lauderdale, Las Vegas, San Francisco, Salt Lake City and Nassau County, N.Y. Yes?” CONTESTANT: “Which U.S. cities have experienced the most dramatic housing shifts since 2010?” ALEX: “Correct.” According to Redfin, Seattle, the U.S. housing market ended the decade in…

Brad Thomas December 6, 2019 The year of rejuvenation continues for the domestic-focused U.S. real estate sector following one of the toughest years for REITs and homebuilders since the financial crisis. For the U.S. housing industry, the story of this year continues to center around the resilient demographic-led growth in household formations along with the…