Mortgage interest rates rose to their highest level since 2006, pushing mortgage application activity to their lowest level in 25 years, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 7.
The voting period for election of the Mortgage Bankers Association’s FY 2023 officers and new and returning directors is underway. Voting ends at 5:00 p.m. ET on Friday, Oct. 14.
First American Financial Corp., Santa Ana, Calif., said in challenging housing market conditions with higher interest rates, certain fundamentals will drive future growth. One such driver, said First American Deputy Chief Economist Odeta Kushi, is level of education.
Earlier this year, you could get a bidding war for swampland in Florida. Now, said Redfin, Seattle, homebuyers and sellers are getting pickier—and particularly when it comes to climate risk.
Fannie Mae, Washington, D.C., said its Home Purchase Sentiment Index fell by another 1.2 points in September to 60.8, its seventh consecutive monthly decline and its lowest level since 2011, amid growing affordability constraints.