Industry News

Mortgage rates hang near record lows and offer more dirt-cheap deals

Mortgage rates hang near record lows and offer more dirt-cheap deals

Tom Oslund
Mortgage rates set another record low, sparking new strength in refinances

Mortgage rates set another record low, sparking new strength in refinances

Tom Oslund

Mortgage rates moved even lower last week after setting multiple record lows in recent months, spurring more borrowers to call their lenders and apply for a refinance, but homebuyers were not quite as motivated. 

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances of up to $510,400 slipped to 3.01% from 3.05%, while points decreased to 0.37...

New home sales surge to highest level since before the Great Recession

New home sales surge to highest level since before the Great Recession

Tom Oslund

‘Already, more new homes have sold in 2020 than did in all of 2019,’ one economist said

The numbers: Sales of new single-family homes in August exceeded an annual rate of 1 million for the first time since 2006, as buyers were forced into the market for newly-constructed properties thanks to the dearth of home listings.

New home sales...

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