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Refinancing Your Home to Save Big This Year Homeowners can take advantage of the lowest mortgage rates in five years to save big. News4’s Juliana Valencia is working4you with a look at how you may be able to save money just by refinancing your home.

Loan Applications to Buy U.S. Homes Climb to 11-Year High Loan applications to purchase U.S. homes increased to an 11-year high last week as Americans took advantage of a drop in mortgage rates to their lowest since late 2016.

Refinancing Boom Fuels Mortgages to Postcrisis Record The mortgage market in 2019 had its best year since the height of the precrisis boom, the latest sign that housing is firming up after showing signs of weakness early last year.

Weekly mortgage applications soar 30% as homebuyer demand hits the highest level in 11 years Purchase application volume hit the highest level since October 2009, rising 16% for the week and 8% from a year ago, according to Mortgage Bankers Association data.

HUD Issues New Proposed Fair Housing Rule - MBA Newslink https://shar.es/a3wPTr

Great time to buy or refinance

Mortgage rates ease heading into the new year The 30-year fixed-rate average has been on a steady climb the past few months but remains well below where it was a year ago.

Mortgage Haiku of the Day - 07/29/19

An Incomplete File
"But It Must Close Tomorrow!"
Underwriter Weeps

"The number of agency (Fannie, Freddie, FHA, VA and RHS) financed purchase loans in April 2019 was up 2.4% over April 2018, setting a series' record going back to 2013. Similar record highs were set for first time buyer loans (up 4.5% year-over-year) and for repeat buyers (up 0.4% year-over-year).

Since financed sales traditionally peak in June, and given exceptionally low rates and easy First Time Buyer loan terms (what we call the two punch bowls), we would expect new records to be set in the months ahead."

Edward Pinto
American Enterprise Institute

https://www.housingwire.com/articles/49563-fannie-mae-lowers-mortgage-rate-forecast-and-says-home-price-growth-will-accelerate

Fannie Mae lowers mortgage rate forecast and says home-price growth will accelerate Fannie Mae issued a new forecast that predicts the average U.S. rate for a 30-year fixed mortgage will be 3.7% in the second half of 2019, down from the 3.9% the mortgage financier called for a month ago. Unemployment probably will average 3.7% this year and 4% in 2020.

An outstanding read on an alternative way of analyzing the housing market. Highly recommended.

Connecting the dots: A better framework to analyze the housing market - AEI It is clear that a singular focus on just mortgage rates or the upper end of housing market can lead to faulty conclusions about the health and direction of the overall housing market.

Great time to buy or refinance

Mortgage rates slump to a 2 1/2-year low Rates for home loans fell again, taking the most popular product to a fresh low, but with some questions about how long the good times for borrowers can go on.