Just days after receiving a $750 million cash infusion, a tech startup that Forbes branded in October as a “unicorn,” valued at $7 billion, laid off hundreds of employees in a manner that some online deemed “brutal.” Better.com, a digital …
by confoundedinterest17 Its that time of year for mortgage purchases applications! Purchase applications usually decline during December and start to rise after the beginning of the year. Mortgage purchase applications (white line) dropped -30.4% from the previous week, not usual …
Daryl Fairweather, Redfin chief economist, joins Yahoo Finance’s Zack Guzman and Akiko Fujita to discuss where financial pressures and rising mortgage rates may be projected to occur in the housing market.
by confoundedinterest17 The Freddie Mac 30-year mortgage survey rate fell below 3% today to 2.98%. And with today’s abysmal inflation report, the REAL 30-year mortgage rate fell to -3.13%. Yes, President Biden is asking his economic council to do something about …
by confoundedinterest17 Yes, the US economy has been greatly overstimulated by the Federal government (fiscal stimulus) and The Federal Reserve (monetary stimulus). This has caused inflation that we haven’t seen in a long time. How overstimulated in the economy? The REAL …
by confoundedinterest17 Mortgage purchase applications rose 3.24% from the previous week, according to data from the Mortgage Bankers Association. However, purchase applications are down 9.3% from Mortgage refinancing applications declined -1.57% from the previous week as mortgage rates rose from 3.23% …
by confoundedinterest17 https://www.redfin.com/news/housing-market-update-pending-sales-up-47pct-from-2019/According to Redfin, forty-four percent more homes are pending sale than at this time in 2019, but only 3% more homes recently hit the market—down from 12% growth over 2019 just 7 weeks prior. As a result of the severe …
by confoundedinterest17 Yes, the super-heated housing market is showing signs of slowing down. According to the Mortgage Bankers Association (MBA), mortgage purchase applications rose 1.87% from the previous week. However, purchase applications are down 10% from the same week last year. …
by confoundedinterest17 I have no idea why Jack Dorsey tweeted “705742.” But I do know that Bitcoin hit 63,982.92 this morning as the US 10Y-3M curve has been steepening. Since the 3-month Treasury yield has been repressed to near zero, the …
by confoundedinterest17 Wake up. Time to buy? This is a time even unlike the disastrous housing bubble of the 2000s that led to the financial crisis and Great Recession. Even during the housing bubble years, we still had positive REAL mortgage rates: Bankrate …
United Wholesale Mortgage’s announcement comes only about six weeks after it said it would begin offering a crypto payment option via a pilot program. United Wholesale Mortgage, the second-largest mortgage lender in the U.S., has stopped accepting cryptocurrency for home …
If your mortgage is $1,500/month and you earn $1,500/month, your house is free. https://t.co/X1WioMDQrQ — Jon Gabriel (@exjon) September 28, 2021
by confoundedinterest17 I call this “lending into the storm.” A national mortgage lender has just introduced a 105 Loan-to-value (LTV) ratio loan and a lowering of FICO scores from 660 to 620. Now, the loan still requires 97% LTV with downpayment assistance …
A Long Island man who hasn’t paid his mortgage in 23 years doesn’t qualify for pandemic housing protections because he’s been staying in the home illegally, a judge has ruled. Guramrit Hanspal, 52, bought the three-bedroom, 2.5-bath home in 1998 …
by confoundedinterest17 Even though home prices are skyrocketing (Case-Shiller 20 up 19% YoY in June), mortgage purchase applications are not growing at the speed of home price growth. Some of it is the rise in the S&P 500 and other stock …
The housing market euphoria seems to have gone too far and now it is flashing a danger signal, indicating that inflated home prices are at risk of facing a sharp crash. The unprecedented housing market frenzy of 2021 set one …
by Shaun Richards We arrive at the latest money supply, mortgage and unsecured credit numbers just as we get a reminder of ch-ch-changes in a major area. This is a shift within the demand for cars that has boosted the …
by confoundedinterest17 Mortgage applications increased 1.6 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 20, 2021. The Refinance Index increased 1 percent from the previous …
When China Guangfa Bank Co successfully applied to freeze $20 million in bank deposits and assets associated with China Evergrande, it was big news in the boardrooms, offices and around the water coolers at major financial institutions globally. At face …
United Wholesale Mortgage announced plans this week to accept cryptocurrency for home loans, in an apparent first for the national mortgage industry. The company hopes to start accepting bitcoin in Q3, and it is currently weighing other digital currencies like …
by confoundedinterest17 Headline! “Fed’s Kaplan says delta variant could cause him to rethink his tapering view” Face it, the Federal Reserve may alter its growth path on asset purchases of Treasuries and Agency Mortgage-backed Securities, but it is doubtful that they …
by confoundedinterest17 From Phil Hall at Benzinga: United Wholesale Mortgage UWMC has announced plans to become the first national mortgage lender to accept cryptocurrency for home loans. What Happened: CEO Mat Ishbia previewed the Pontiac, Michigan-based company’s expansion into the cryptocurrency realm during the second-quarter earnings call on …
by confoundedinterest17 (Bloomberg) — Last week was notable for the tsunami of agency mortgage bonds offered to the Federal Reserve during its routine purchase operations on Friday. The central bank’s quantitative easing schedule called for it to buy $2.9 billion of 30-year uniform mortgage bonds Friday, …
by confoundedinterest17 Mortgage rates in the U.S. surged to the highest level in a month. The average for a 30-year loan was 2.87%, up from 2.77% last week and the highest since July 15, Freddie Mac said Thursday. Mortgage rates have been below …
by confoundedinterest17 Simply unaffordable is what singer Robert Palmer would say. Homes, that is. Mortgage applications increased 2.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending August 6, …
by confoundedinterest17 There is good news from Freddie Mac today. Their 30-year mortgage commitment rate fell to 2.77%, the lowest in almost six months. The bad news? Consumers are going to need a bigger boat since the Case-Shiller national home price index …
by confoundedinterest17 REAL mortgage rates, defined as the Freddie Mac 30-year rate LESS alternative measures of inflation, vary from -1.189% (based on today’s PCE Deflator YoY) to -13.815% (based on the largest asset in a household’s portfolio, the house, that is …
by confoundedinterest17 The good news? Only 3.6% of all active mortgages remain in forbearance. The bad news? The mortgage foreclosure moratorium comes to an end on July 31st. The good news? The Biden Administration rode to the rescue with a new mortgage …
by confoundedinterest17 While the Fed’s Jackson Hole meeting is going on, the Mortgage Bankers Association released their weekly applications data. Mortgage purchase applications fell -1.6% from the previous week. But look at the following chart. With smokin’ home price growth, we …
by confoundedinterest17 Living in a negative rate world … It is not surprising that the REAL German Pfandbriefe 10-year rate is negative, since the NOMINAL rate is also negative. Especially since the NOMINAL German sovereign yield is negative. When we subtract German …