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After falling an aggregate of 29.5 points in March and April, Fannie Mae says its Home Purchase Sentiment Index (HPSI) has begun to recover. The Index rose 4.5 points in May to 67.5 from an all-time survey low in April. Four of the six index components gained ground. Year over year, the HPSI is down 24.5 points. Consumers reported a somewhat more optimistic view of homebuying conditions and, to a lesser extent home-selling conditions, in their responses to the National Housing Survey upon which the index is based. Moreover, fewer consumers reported expectations that mortgage rates will go up over the next 12 months. "Although the HPSI's precipitous declines of March and April did not continue in May, Americans' financial, economic, and housing market concerns remain substantially elevated compared
After falling an aggregate of 29.5 points in March and April, Fannie Mae says its Home Purchase Sentiment Index (HPSI) has begun to recover. The Index rose 4.5 points in May to 67.5 from an all-time survey low in April. Four of the six index componen... (read more)
After moving higher at a fairly quick pace last by last Friday, mortgage rates are off to a better start this week. Rates remain noticeably higher versus the best recent levels, seen on June 1st and 2nd, but the average lender offered slightly lower ... (read more)
The strength of the housing industry at the end of 2019 and beginning of 2020 served, to a certain extent, as a buffer as the COVID-19 pandemic began to hit in March. However, CoreLogic says that there were still some signs that month that loan perfo... (read more)
Black Knight says that only three months after the national delinquency rate hit a record low, falling 1.5 percentage point below its pre-Great Recession average in January, it skyrocketed to 6.45 percent. This is a 3.1 percent change in April alone,... (read more)
Bond Rally or a Token Bounce After Last Week's Rout?
Last week saw rates rise at the fastest pace in months in an apparent lift-off from an extended stint near all-time lows. Now the current week looks ... (read more)
Big picture, in case you haven’t been paying attention, the National Bureau of Economic Research confirmed that the U.S. economy has slowed: The economy hit its peak in February and has since fallen into a downturn as the unforeseen pandemic ca... (read more)
Interest rates displayed are national averages and for informational purposes only. Actual rates from lenders may vary based on several factors including, but not limited to, credit worthiness, ability to replay, credit score, down payment, loan term, etc.