Financial News Network - Economic News

Weekly mortgage demand falls, but size of average homebuyer loan hits record

Sharp gains in home prices and a slight rise in interest rates combined to weaken demand for mortgages last week.

Read more: https://www.cnbc.com/2021/01/27/weekly-mortgage-demand-falls-but-average-homebuyer-loan-size-hits-high.html

Markets figure that as long as the Fed keeps pumping, then it's safe to keep buying.

Read more: https://www.cnbc.com/2021/01/26/fed-will-need-to-reassure-the-market-its-not-thinking-about-dialing-back-its-support.html

"The consumer is coming back. I'm telling you, where we can do business, we are doing business," Tilman Fertitta told CNBC.

Read more: https://www.cnbc.com/2021/01/26/tilman-fertitta-sees-another-roaring-twenties-for-economy-post-covid.html

Strong growth in home prices is showing no signs of abating, thanks to high buyer demand and a record low supply of homes for sale.

Read more: https://www.cnbc.com/2021/01/26/november-home-prices-rose-9point5percent-one-of-the-highest-gains-on-record-case-shiller-says.html

Jobless claims for the week ended Jan. 16 totaled 900,000, the Labor Department reported, slightly better than the Wall Street estimate of 925,000.

Read more: https://www.cnbc.com/2021/01/21/weekly-jobless-claims.html

The rising costs of getting homes built is making builders less optimistic.

Read more: https://www.cnbc.com/2021/01/20/spike-in-lumber-and-land-prices-causes-homebuilder-confidence-to-fall.html

Several weeks of rising rates are dousing what was incredibly high demand for refinancing, according to Mortgage Bankers Association data.

Read more: https://www.cnbc.com/2021/01/20/mortgage-refinance-demand-pulls-back-as-interest-rates-rise.html