interest rates

Days to Close Shortest in Nearly a Year

Overall time to close a loan drops to 44 days in February, with Decreased days to close across all loan types By Jeff Sorg, OnlineEd Blog (April 21, 2017)  PLEASANTON, Calif. –  In February, time to close all loans for Millennial borrowers decreased to 44 days, the shortest average time to close since March 2016,

Mortgage Applications Increased 21.3 %

Mortgage applications increase in latest weekly survey By Jeff Sorg, OnlineEd Blog (January 14, 2016) –  According to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey, mortgage applications increased 21.3 percent for the week ending January 8, 2016 when compared to one week earlier. The Market Composite Index, a measure of mortgage loan application volume, increased

Nearly Half of Homebuyers Consider Only One Lender

(Jeff Sorg, OnlineEd) – The Consumer Financial Protection Bureau (CFPB)  is reporting that almost half of consumers who took out a home purchase mortgage reported that they seriously considered only a single lender or mortgage broker before applying for a loan. First-time homeowners were only slightly more likely to shop, despite their relative inexperience. For most borrowers, the mortgage

Existing home sales fall to lowest level in nearly a year

WASHINGTON (Reuters) – U.S. home resales fell sharply in November to their lowest level in nearly a year, hurt by a rise in interest rates since the spring and ongoing price increases that have shut some home buyers out of the market. The National Association of Realtors (NAR) said on Thursday that sales of previously