Home Buyers

Author: admin

Demand For Adjustable Rate Mortgages (ARMs) Doubles

According to a recent report by the Mortgage Bankers Association, demand for adjustable rate mortgages (also known as ARMs) has doubled over the past three months, making up 9% of all new mortgage applications. This comes at a time when the number of people seeking mortgages overall has fallen, and when interest rates are rising. Some fear this could be the sign of the market cooling in the near future, which may result in prices starting to fall.

Continue reading “Demand For Adjustable Rate Mortgages (ARMs) Doubles”

Existing Home Sales Fell in April, But Prices Continue to Rise

The number of existing homes being sold fell in April, even as home prices continue to rise. According to the National Association of Realtors, the number of home sales fell to the lowest level it has been since before the beginning of the pandemic. At the same time, though, there are many people looking to become homeowners, only to find there is simply not enough available inventory to go around.

Continue reading “Existing Home Sales Fell in April, But Prices Continue to Rise”

Mortgage Demand Down 40% From 2021

Demand for mortgages has gone down substantially over the past year, with the number of mortgages issued around 40% lower compared to the same time in 2021. Notably, this dramatic fall in mortgages has affected both financing for new homes, as well as people attempting to refinance their old mortgages. This decrease in mortgages being taken out is blamed on a number of factors, including rising interest rates, surging home prices and a lack of available inventory. Continue reading “Mortgage Demand Down 40% From 2021”

Skip to content