Mortgage rates in the U.S. fell below 5% to an average of 4.95% for a 30-year mortgage, propping demand for home loans. This is in part due to the lowest number of purchase applications in nearly 13 years in the prior week and according to data by Mortgage Bankers Association. As a result, purchase applications […]

  According to Freddie Mac, mortgage rates on a 30-year fixed mortgage dropped this week to a four year low, averaging at 5.47%. This new wave of lower interest rates started with Federal reserve buyout of $600 billion of mortgage related securities. This resulted in spike in loan applications and people looking to refinance their […]

by Michael J. McGivney, SVP  Stanley Capital Mortgage Company Stress in the real estate market caused U.S. home sales to fall sharply between September and October, according to a national survey of more than 2,500 real estate agents conducted by Campbell Communications and reported at Housingwire.com. Survey results showed that buy-side respondents indicated a 19% […]