Interest rates are based on bonds. Because the bonds underlying the average mortgage are fixed rate, inflation is the enemy. Imagine you’re an investor fronting the money for a fixed-rate mortgage. You know your schedule of payments from day one. Let’s say the payment is $5 or enough to buy a dozen eggs. Now let’s […]
Mortgage Rates Near 1-Year Highs Read More »
The second quarter likely ended with Rocket regaining the No. 1 spot among mortgage originators from United Wholesale Mortgage, an industry prognosticator says. Processing Content Second quarter volume is expected to increase by 3% quarter-to-quarter for five companies BTIG analyst Douglas Harter covers: loanDepot, PennyMac Financial Services, Rithm, Rocket and UWM Holdings. The consensus gain
Could Rocket be the No. 1 originator in the second quarter? Read More »
Mid-Atlantic home sales rose on an annual and monthly basis in June, despite mortgage rates hovering around 6.5% for the entire month, a new industry report found. Processing Content Closed sales increased 7.3% year over year and 11.8% from May to 23,278 last month, while new pending sales jumped 3.9% annually to 22,817, according to
Rising inventory — not rates — is moving Mid-Atlantic buyers Read More »