As we reported in CVAR Connect a couple weeks ago, Fannie Mae’s monthly Home Purchase Sentiment Index showed that respondents who thought it was a good time to buy a home decreased from 61% to 53%. Despite that decline in confidence, the pandemic has both increased and altered demand for housing, and it has also […]
Refinance Requests Soar With Rate Drop
Record-low mortgage rates are delivering more refinancing demand than some lenders can handle. Homeowners are rushing to refinance their mortgages thanks to big falls in interest rates prompted by fears of the spreading coronavirus. Some lenders are having trouble keeping up with the red-hot demand. Weekly refinancing applications recently hit their highest level in nearly […]
Client Tip: Race to Refinance Is Costing Homeowners
Many Americans who need cash are taking it out of their homes but at higher interest rates. Over the past two years, a big chunk of homeowners have refinanced to tap their home equity–cash-out refinancings, as they are known–to free up money to pay down credit-card debt, renovate or invest in a new property. Nearly […]
Client Tip: 3 Reasons to Refi
The Federal Reserve – the organization responsible for setting mortgage interest rates – decided to cut rates for the third time this year in October, resulting in some of the lowest interest rates we’ve seen in a while. This has led many homeowners to wonder if now is a good time for them to refinance […]
Dec. 30 CVAR At A Glance
CVAR Closed Dec. 31-Jan. 1 Featured Classes & Events Dec. 31-Jan. 1 | CVAR Closed for New Years Jan. 6 | CRMLS Training – Glendora – Free Jan. 8 | New Member Orientation – All Locations Jan. 8 | zipForm® Training – All Locations – Free Jan. 9-Feb. 27 | Contract College – Glendora – […]
Loan Rates Tumble; Too Late for Homebuyers?
Rates for home loans tumbled as turmoil rocked global financial markets, but any reprieve in rates may come too late for would-be home buyers or refinancers. The 30-year fixed-rate mortgage averaged 4.81% in the Nov. 21 week, down 13 basis points, mortgage liquidity provider Freddie Mac said. That’s the biggest weekly decline since January 2015 and […]
Feb. 20 CVAR At A Glance
Featured Classes and Events Feb. 20 | Loan Bootcamp – Pre-Qualifying – CVAR East (Rancho Cucamonga) Feb. 21 | zipForms at CVAR HQ — zipForms Live Stream at CVAR East (Rancho Cucamonga) — zipForms Live Stream at CVAR West (South El Monte) Feb. 22 | Contract College; Session 3 Feb. 26 | CRMLS Training – Free – […]
Mortgage applications fall 4 percent
Rising mortgage rates appear to be the new normal, and the market for home loans is still adjusting. Total mortgage application volume fell 4 percent on a seasonally adjusted basis last week from the previous week, according to the Mortgage Bankers Association. While rates didn’t rise much during the week, the new range is clearly […]