The average credit score for home buyers increased 5 points year-over-year between the third quarter of 2015 and third quarter of 2016, rising from 734 to 739, according to latest CoreLogic Housing Credit Index.
Freddie Mac reported this week that the national average for the 30-year fixed rate mortgage hit 4.16 percent, increasing for the seventh consecutive week. That’s 62 basis points higher than…
The CFPB fined the three companies almost $800,000 in total in fines for making false promises to potential borrowers, which included claims that they could never lose their homes.
About 3.2 million homes, or 6.3 percent of all U.S. residential properties with a mortgage, were still in “negative equity” by the end of the third quarter of 2016
The long-term rate has climbed 66 basis points in six weeks, boosted by the post-election selling spree in Treasuries.
A widely tracked index of U.S. home prices has hit a new high, surpassing a previous peak set in July 2006 — well before the all-out housing crisis of 2007-2009.
Was it a case of pre-election jitters about the housing market’s direction and interest rates poised to move higher? That could have been a factor behind the release of pent-up demand that pushed up sales of existing homes in October to a near 10-year-high annualized rate.
An historic sell-off in the Treasury market has pushed the average 30-year fixed rate to 3.94 percent, up from 3.57 percent last week, Freddie Mac says.
For now, average mortgage rates stayed in mostly historically low territory this week, but they could be creeping higher in coming weeks.
A shortage of homes didn’t stop Americans from buying existing properties as sales rose 3.2 percent in June, reaching the highest annual rate since June — 5.47 million units, according to the National Association of Realtors.