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Top related persons:
Michael Fratantoni - 4 Matthew Graham - 2 Li Jianguo - 1 Graham - 1 ” - 1 influencers - 1 “ It’s - 1 Scott Trench - 1
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Millbrae , California United States Xinhua U.S
Top related orgs:
Mortgage - 3 Mortgage News - 2 Federal Reserve - 2 Treasury - 2 Association's - 1 National Association of Realtors - 1 Getty - 1 Federal - 1

Search resuls for: "Michael Fratantoni"


5 mentions found


☆ Mortgage rates spike after stronger-than-expected jobs report
  + stars: | 2024-10-04 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
The average rate on the 30-year-fixed mortgage jumped 27 basis points Friday morning following the release of the government's monthly employment report. Mortgage rates do not follow the Fed, but they loosely follow the yield on the 10-year U.S. Treasury. For mortgage rates, it is all about what the expectation is next for the Fed. "MBA's forecast is for longer-term rates, including mortgage rates, to remain within a relatively narrow range over the next year," Mortgage Bankers Association's chief economist Michael Fratantoni wrote after the jobs report was released. "This news will push mortgage rates to the top of that range, but we do expect that mortgage rates will stay close to 6% over the next 12 months."
Persons: Matthew Graham, Michael Fratantoni Organizations: Mortgage News, Federal Reserve, Treasury, Mortgage, Association's
☆ Mortgage rates jump back over 7% as stronger economic data rolls in
  + stars: | 2024-02-05 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +4 min
Mortgage rates have been on a wild ride since the summer, briefly crossing to a 20-year high of 8% in October. Mortgage rates do not follow the Fed directly, but they follow loosely the yield on the 10-year Treasury, which is heavily influenced by the central bank's impression of the economy at any given time. As mortgage rates fell over the past two months, buyers seemed to be returning to the market. Mortgage applications to purchase a home had been rising steadily, but fell back in the last few weeks, as mortgage rates edged higher. "If we see more data like last Friday's jobs report, rates will have a hard time getting back below 7%.
Persons: Li Jianguo, Matthew Graham, Michael Fratantoni, Graham Organizations: National Association of Realtors, Getty, Mortgage News, Federal, Treasury, Fed, Mortgage, Association . Mortgage, CNBC PRO Locations: Millbrae , California, United States, Xinhua
☆ The Hottest Thing in Real Estate Is a Loan From Two Years Ago
  + stars: | 2023-06-10 | by ( Conor Dougherty | ) www.nytimes.com   time to read: +2 min
From the pedestrian to the dodgy, it all seems to underscore the manner in which the nation’s real estate market has been frozen by regret. In lieu of acceptance, a determined few are trying to use imagination and fine print to build a portal to the cheap-money days of 2021. In theory, any of the millions of homeowners holding a assumable low-rate mortgage have a valuable perk to sell with their home. Still, real estate agents say it can be hard in practice to transfer them. For instance, homeowners who transfer a V.A.-backed mortgage can lose their ability to get another similar loan unless they can find a V.A.-eligible buyer to take their original mortgage.
Persons: ”, influencers, “ It’s, Scott Trench, Sellers, Michael Fratantoni, Black Knight Organizations: Federal Housing Administration, Department of Veterans Affairs, Department of Agriculture, Mortgage, Association Locations: U.S
☆ Mortgage demand drops to the lowest level in three months
  + stars: | 2023-05-31 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Mortgage rates shot higher last week, as stronger economic data stoked more fear that the Federal Reserve will not lower interest rates anytime soon. In turn, mortgage demand dropped to the lowest level since the end of February. "While refinance demand is almost entirely driven by the level of rates, purchase volume continues to be constrained by the lack of homes on the market." With home prices starting to regain steam, mortgage rates higher and inventory levels still well below normal, potential homebuyers are getting hit from all sides on affordability. The direction of mortgage rates depends mostly on new reads on the economy.
Persons: Michael Fratantoni Organizations: Federal Reserve, Mortgage Bankers Association
☆ Demand for riskier home loans is high as interest rates soar
  + stars: | 2022-10-12 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com   time to read: +2 min
Mortgage demand dropped again last week as rates climbed higher, but one type of loan is attracting borrowers. Adjustable-rate mortgages, or ARMs, which offer lower rates, are seeing renewed demand after getting very little interest over the last decade. Higher overall rates crushed refinance demand even further, with applications off 2% for the week and 86% from the year-earlier week. Buyers have stepped way back this fall, as higher rates have made affordability even worse. Mortgage rates moved even higher to start this week; another survey from Mortgage News Daily has the 30-year fixed now well over 7%.
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