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Welcome - The MortgagePoint
WEBWelcome to MortgagePoint! In our continuous effort to provide comprehensive and timely information, we've combined the strengths of DS News and MReport into one unified platform - MortgagePoint. This new platform offers a 360-degree view of the mortgage industry, including insights on loan origination, default servicing, and more.You will be redirected to MortgagePoint, where you
Where Is It Cheaper to Buy Than Rent? - The MortgagePoint
WEB3 days ago · In Chicago, the typical rent payment was reported as $2,074 per month, but the average monthly mortgage payment was $1,640—a savings of $434 a month by owning rather than renting. In New Orleans, homeowners can also save nearly $450 a month paying a mortgage rather than renting, and in Pittsburgh, the savings are about $320 a …
Starter Home Affordability on the Rise - The MortgagePoint
WEBAugust 29, 2024. A new report from Redfin has found that the monthly housing payment for the typical U.S. starter home sold in July was $1,981, up 4.4% year-over-year. That means homebuyers must earn $79,252 annually in order to afford a typical U.S. starter home, also up 4.4% year-over-year, and just a few hundred dollars shy of last October ...
Mortgage Application Payments Take a Dip - The MortgagePoint
WEBSep 4, 2024 · Additional Key Findings of MBA’s Purchase Applications Payment Index (PAPI) – July 2024. The national median mortgage payment was $2,144 in July—down $27 from June. It is down by $22 from one year ago, equal to a 1.0 percent decrease. The national median mortgage payment for FHA loan applicants was $1,838 in July, down from $1,907 in June ...
New Home Purchase Applications Boast YoY Gains
WEB1 day ago · The FHA share of purchase applications reached another record high in the survey at 29.6%. Estimated new home sales increased almost 15% over the month, reaching the fastest sales pace since February 2022.”. According to MBA estimates, the number of new single-family home sales in August 2024 was 776,000 units, a seasonally adjusted annual rate.
Average Mortgage Down Payment Jumps to Record High
WEBAugust 28, 2024. Redfin reports that the typical down payment for U.S. homebuyers hit a record high of $67,500 in June 2024, up 14.8% from $58,788 year-over-year, marking the 12th consecutive month the median down payment has risen year-over-year. The nearly-15% jump in the median down payment significantly outpaced the increase in …
The State of the Rate
WEBAug 27, 2024 · In a new analysis by Redfin, 85.7% of U.S. homeowners with mortgages have an interest rate below 6%, down from 90.6% at the start of last year, and a record high of 92.8% in mid-2022.This means even more than 85.7% of homeowners with mortgages have a rate below the current weekly average of 6.46%, prompting many to stay put instead of selling and buying another home at a higher rate—a ...
Existing-Home Sales Retreat as Median Sale Price Jumps YoY
WEB1 day ago · Key Findings: Existing-home sales retreated 2.5% in August to a seasonally adjusted annual rate of 3.86 million. Sales slid 4.2% from one year ago. The median existing-home sales price rose 3.1% from August 2023 to $416,700, the 14th consecutive month of year-over-year price increases.
New Home Purchase Apps Show YoY Gains - The MortgagePoint
WEBJun 14, 2024 · The FHA share of applications was 26.5%, the highest share since the survey high of 27.1% in November 2023. The average loan size was $400,150, a decline from last month’s average of more than $405,000.”. Added Kan, “MBA’s estimate of new homes show a slight increase to 702,000 units in …
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