Home Purchasers Prepare for Elevated Interest Rates
The Federal Reserve has dealt a blow to homebuyers by announcing a 0.25% increase in the federal funds rate, a crucial rate for overnight bank lending. Although the Fed rate does not directly affect mortgage rates, they are influenced by similar market factors. Lenders consider inflation, job growth, and the Continue Reading
Decline in Mortgage Applications Found in Latest MBA Weekly Survey
The U.S. housing market is experiencing a familiar trend as mortgage applications face a decline. The primary reasons behind this drop are the soaring home prices and robust interest rates. According to the Mortgage Bankers Association’s Weekly Mortgage Applications Survey for the week ending July 21, 2023, the Market Composite Continue Reading