Fourth-quarter 2021 posts largest yearly decline in originations since 2018
The fourth quarter of 2021 saw 3.27 million residential mortgage originations nationwide, down 13.5% from fourth-quarter 2020, according to Attom Data Solutions. This annualized dip is the largest such decrease for the U.S. mortgage market since Q4 2018, while the total number of mortgage issuances fell for the third straight quarter. Originations were down 10.7%…
Read MoreLowest Rates in More Than a Week
After a month like January (where rates rose very quickly), we’ll take any victory we can get. In today’s case, that means the celebration of rates that are still very high compared to most of the past 2 years, but modestly lower compared to the past few days. With today’s improvement, you’d need to go…
Read MoreHome Price Appreciation Update Including 2022 Forecast
According to Progressive Mortgage Solutions home prices averaged year-over-year gains of 15 percent over the 12 months of 2021 compared to an average gain of 6.0 percent in 2020. CoreLogic’s Home Price Index (HPI) ended the year up 18.5 percent compared to the prior December. Despite indications earlier in the year that price gains were…
Read MorePros and Cons of 30 Year Mortgage Loan
A 30-year mortgage loan is a loan that comes with a 30-year term and a fixed rate. The 30-year term here symbolises a term which a borrower can take to pay back a loan. In the course of a 30-year mortgage, the balance shrinks slowly and effectively. Pros of a 30-year mortgage There are plenty…
Read MoreApplying for a Home Loan? Here are some important points for you
A home loan is designed to finance the construction and purchase of your residential property. Progressive Mortgage Solution offers the best home loan for everyone who is in search of it. Our home loans come with a wide range of advantages such as smaller EMI’s, best interest rate, an easy application process, doorstep service and…
Read MoreInvestors Focus on Targeted MBS Buying As Fed Nears Goals
Near the start of the pandemic, the economy needed additional support. To assist the support effort, the Fed began buying $120 billion of Treasuries and mortgage-backed securities (MBS) on a monthly basis. Friday’s meeting saw investors focus on targeted MBS buying. As the recovery has progressed, Fed officials said that the need for this additional…
Read MoreProduct that eliminates mortgage insurance with less money down
Progressive Mortgage & Real Estate Solutions has an exclusive product that eliminates mortgage insurance with less money down to give your borrowers more purchase power – with as little as 10.01% down. 680+ FICO Up to 45% DTI LTV between 80.01 and 89.99% Loan amounts starting at $200,000 Conventional 30-year fixed only, no Flex Term…
Read MoreIs housing market in a bubble?
According to Progressive Mortgage & Real Estate Solutions home prices have been rising at a fast pace over the last year. According to the Federal Housing Finance Agency (FHFA), the average selling price of an existing home grew by 20% from August 2020 to August 2021, reaching a record $348,000. Notably, that pace of price…
Read MoreSolid Job Gains Spotlight Uncommonly Busy Week for Mortgage Markets – Progressive Mortgage Solutions
This past week saw solid job gains amidst a packed week for mortgage markets. Highlighted by key labor market data and a Fed meeting, the U.S. economy did not see a shortage of economic news. When the dust settled, mortgage rates ended the week a little lower. Solid Job Gains – Progressive Mortgage Solutions your…
Read MoreAccording to Progressive Mortgage Solutions Inflation Surges
Inflation Surges According to Progressive Mortgage Solutions, mortgage rates steadily declined following the November 3 Federal Reserve meeting, but they abruptly reversed direction after the latest inflation data was released Wednesday morning. Altogether, rates ended the week a little lower. A tight labor market, strong consumer demand for goods, rising energy prices, and supply chain…
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