Mortgage rates are falling fast but not enough to offset high home prices. Buyers are still pulling back.
Mortgage application volume increased 1.5% last week and 12% from a year earlier, according to the Mortgage Bankers Association.A home for sale is seen in Santa Monica, California.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 4.23% from 4.33% by the end of last week, with points decreasing to 0.33 from 0.42 for loans with a 20% down payment. Total refinance volume rose 6% from the previous week and was nearly 33% higher than a year ago, when interest rates were 52 basis points higher. The refinance share of mortgage activity increased to 42.2% of total applications from 39.7% the previous week.
Mortgage applications to purchase a home, however, fell 2% for the week and were barely 0.5% higher than a year ago. High prices continue to sideline buyers, especially first-time buyers, who are a growing segment of the market. Millennials are aging into their prime homebuying years, but they are saddled with debts, are likely paying high rents and are facing one of the least-affordable markets in decades.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Thyssenkrupp shares fall near 16-year lowThyssenkrupp shares extended their losses on Monday and fell to their lowest lev...
Weiterlesen »
In Silver’s Slide, Another Sign of Global-Growth WorriesThe price of silver has fallen to its lowest level relative to gold in more than 26 years, a sign of slowing global growth to analysts who use the relationship between the two metals to gauge momentum in the global economy.
Weiterlesen »
Farmer sentiment hits the lowest level since before Trump's election as the China trade war drags on“Farmers are facing tough decisions in the midst of a wet planting season and a lot of uncertainty surrounding trade discussions,” said James Mintert, director of Purdue’s Center for Commercial Agriculture.
Weiterlesen »
Tesla chart has gotten so bad, it's good, technical analyst saysCornerstone Macro technical analyst Carter Worth sees Tesla stock making a U-turn after hitting its lowest level in more than three years.
Weiterlesen »
Oakland, Calif., becomes 2nd U.S. city to decriminalize magic mushroomsThe vote makes the investigation and arrest of adults who grow, possess, use or distribute entheogenic plants one of the lowest priorities for police.
Weiterlesen »
Why Washington has turned on Big TechIt's coming from left, right and center, but the message is clear: The US government and the political mood are turning on tech companies for being too big, crowding out competition, violating users' privacy, squeezing government for tax incentives and scrimping on wages for their lowest-paid employees.
Weiterlesen »
Why Chick-fil-A's decision to close on Sundays is a brilliant business strategyChick-fil-A locations are all closed on Sunday, in keeping with founder Truett Cathy's Christian faith. Here's why it's a brilliant business strategy.
Weiterlesen »
U.S. 30-year mortgage rates drop below 4%: Freddie MacInterest rates on U.S. 30-year fixed-rate mortgages fell below 4% for the first ...
Weiterlesen »
As mortgage rates plunge, millions more homeowners can benefit from refinancingMortgage rates are falling unexpectedly and sharply, and that means millions more homeowners can benefit from a refinance. The average rate on the popular 30-year fixed has fallen from a recent high of 4.23% on May 21st to 3.94% now, according to Mortgage News Daily.
Weiterlesen »
Mortgage Rates Fall Below 4%, Lifting Hopes for Housing ReboundMortgage rates dropped below 4% for the first time since early last year, adding to hopes for a revival in the housing market, which has cooled after years of torrid price growth
Weiterlesen »
Mortgage rates slide below 4% as the trade war buffets marketsRates for home loans fell again, taking the most popular loan product below a psychological threshold, but Americans’ confidence may be too fragile to take...
Weiterlesen »