Mortgage refinance applications increased 15% last week compared to the previous week. The average contract rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) decreased from 7.00% to 6.87%. Mortgage applications for home purchases were down 3% this week and 14% lower than the same week a year ago. Mortgage rates fell to their lowest since March last week, spurring a surge in demand for refinancing, but homebuyers appear unimpressed. Mortgage refinance applications rose 15% last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index, hitting the highest level since August 2022.…
Author: Private Lending Agent
Courtney Keating | Getty ImagesMortgage rates fell to their lowest since March last week, spurring a surge in demand for refinancing, but homebuyers appear unimpressed.Mortgage refinance applications rose 15% last week from the previous week, according to the Mortgage Bankers Association's seasonally adjusted index, hitting the highest level since August 2022. Demand was up 37% compared to the same week a year ago, when mortgage rates were exactly the same.Last week's increase was large, but it came from a very small base: Refinance demand is still more than 70% lower than it was at the beginning of 2020, before the…
Calculated Risk 2024/7/17 07:00:00 AM From MBA: Latest MBA Weekly Survey Shows Increase in Mortgage ApplicationsAccording to the Mortgage Bankers Association's (MBA) Weekly Applications Survey for the week ending July 12, 2024, mortgage applications increased 3.9% from the previous week.The Composite Market Index, a measure of mortgage application volume, increased 3.9% week-over-week, seasonally adjusted. Unadjusted, the index increased 30% week-over-week. The Refinance Index increased 15% week-over-week and was 37% higher than the same week a year ago. The Seasonally Adjusted Purchase Index decreased 3% week-over-week. The Unadjusted Purchase Index increased 22% week-over-week and was 14% lower than the same week…
(Bloomberg) — U.S. mortgage rates fell last week to their lowest since early March, providing a breather for would-be homebuyers and an industry seeking a much-needed boost in demand.Most read articles on BloombergThe Mortgage Bankers Association said on Wednesday that the contract rate for a 30-year fixed mortgage fell 13 basis points to 6.87% during the week that ended July 12. Rates for the 15-year mortgage fell to 6.49%.Mortgage rates move in tandem with Treasury yields, which also fell sharply last week after government data showed a general abatement of inflationary pressures, encouraging traders to bet the Federal Reserve is…
Real estate major DLF is focusing on expansion into developing residential and commercial projects and will enter new markets in Mumbai and Goa to capitalize on growth opportunities, its chairman Rajiv Singh said.In a message to shareholders in the annual report, Singh said the company remains focused on corporate governance, operational excellence and upholding its founders' values.Also read: Is redevelopment a new strategy for Indian real estate developers?”We are focused on expanding both our residential and commercial businesses. Our residential business maintained its growth momentum, seeing an increase in new sales bookings and record sales growth.” “The market response to…
Saving money is an important habit and the foundation of a solid financial plan. But where you save your money matters, too. Savings interest rates today vary widely, but some of the best accounts offer annualized interest rates of 5% or more. Let's take a look at the best savings rates today and where to find them.What's the best savings interest rate today?Historically, interest rates on savings accounts have been high. However, traditional savings account interest rates pale in comparison to the interest rates offered by high-yield savings accounts.For example, the average interest rate on a savings account is just…
Any affiliate links to products on this page are from partners who pay us a commission (see our advertiser disclosure and partner list for more information), but our opinions are our own. Find out how we rate mortgages and write an unbiased product review. So far this week, 30-year mortgage rates are averaging about 6.34%, down 37 basis points from rates earlier this month, according to Zillow data. Mortgage rates have fallen sharply following new data showing inflation slowed last month. After appearing to be stagnant earlier this year, the Consumer Price Index has slowed for three consecutive months and…
GPIF undeterred by low profits Japan's Government Pension Investment Fund (GPIF) has not shied away from increasing its allocation to private real estate as part of a larger plan to diversify its overall portfolio. According to GPIF's annual report for the fiscal year ending March 31, real estate was the only alternative asset class to see its allocation fall to 9.82% in 2023 from 11.12% in 2022. Still, the world's largest pension fund has made at least two new direct real estate fund investments in fiscal 2023, including a build-to-core fund in Japan with Tokyo Land Capital Management and an…
NEWTOWN BORG, Pa. — A new commercial real estate company has opened at 16 South State Street in Newtown Borough. Mark Gatta and Volkan Andic, founders and owners of Opus Elite Real Estate, announced the launch of OERE Commercial Real Estate and the appointment of Joe Sternberg as Director of Commercial Real Estate for OERE. subscribeSternberg is a former senior associate at NAI Mertz, where he closed over $30 million in transactions. At NAI Mertz, he worked on a wide range of commercial transactions including warehouse/flex, retail, office and land development. As Director of Commercial Real Estate at OERE, Sternberg…
Palm Beach County Schools Calendar 2024-2025 View the school calendar for Palm Beach County Schools starting Thursday, August 12, 2024 and ending Thursday, May 30, 2025. Palm Beach County Schools Calendar 2024-2025 August:Monday, August 12, 2024 New semesterTuesday, August 20, 2024 School Closed Autumn Break September:Monday, September 2, 2024 Schools closed Labor Day Holiday October:Thursday, October 3, 2024 School Closed Autumn BreakMonday, October 14, 2024 School closed Teachers working day November:Tuesday, November 5, 2024 School closed Teachers working dayMonday, November 25, 2024 – Friday, November 29, 2024 Closed Thanksgiving holiday December:Monday, December 23, 2024 – Friday, December 31, 2024 Closed…