Luxe Austin Homes - refinance

"Mortgage Demand From Homeowners Recovers as Applications Rise for the Second Week in a Row"

Realtor.com reports, "Home loan applications slightly ticked up 1.1% for the second week, but are trending lower than last week when overall applications increased 11%.

The latest data from the Mortgage Bankers Association's Weekly Mortgage Applications Survey shows a 1.1% increase on mortgage loan application volume on a seasonally adjusted basis from one week earlier. The refinance index decreased 0.4% from the prior week but was 44% higher than the same week one year ago.

"The most notable change in this week's data was the increase in purchase applications, which jumped 2.3% on a weekly basis and were up 18% year over year," says Hannah Jones, senior economic research analyst at Realtor.com®. "The spring housing market is picking up, and…

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"What’s next for the Austin housing market heading to fall 2023"

AUSTIN (KXAN) — "Mortgage rates have hit a 21-year high, and KXAN wanted to see what it could mean for Central Texans.

KXAN Anchor Jennifer Sanders spoke with Dr. Clare Losey, a housing economist with the Austin Board of Realtors, about key housing data, such as new and existing home sales.

JENNIFER: So as mortgage rates top 7% It’s a two-decade high. What does this really mean for homebuyers as well as homeowners here in Central Texas?

CLARE: Well, the primary effect of higher mortgage rates is on homebuyers purchasing power, right? So anytime the mortgage rate increases, it reduces the maximum home price affordable to any potential buyer. So, what we anticipate to see in Austin really in any housing market is just somewhat of a moderation in…

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"What Is a Loan Modification? Can It Help Homeowners in Trouble?"

Realtor.com writes, "consider a loan modification a lifeline for homeowners in trouble. If you’ve been hit with financial hardships that hamper your ability to pay the mortgage, there are options other than foreclosure or selling your home. One is to get a loan modification, which is basically an agreement with your lender to change the terms of your loan.

Loans can be modified in various ways. For instance, the lender may lower the interest rate; extend the length of the loan; or allow a homeowner to skip payments until he’s found a new job, adding those missed payments to the principal to pay later. The terms all depend on the homeowner’s specific circumstances, but the goal is ultimately the same: to provide financial relief for homeowners who…

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"Mortgage Demand Soars 28% as Rates Dip Slightly"

Realtor.com writes, "The numbers: A dip in mortgage rates prompted mortgage demand to rise a seasonally adjusted 27.9%

As mortgage rates dropped across the board, demand for both purchases and refinancing increased. That pushed the market composite index up, a measure of mortgage application volume, the Mortgage Bankers Association (MBA) said on Wednesday.

The market index rose to 238.7 for the week ending Jan. 13, up 27.9% from a week earlier. A year ago, the index stood at 593.7.

Key details: The refinance index jumped 34.2% in the past week, but was down 81% compared to a year ago.

The purchase index—which measures mortgage applications for the purchase of a home—rose by 24.7% from last week.

Mortgage rates fell across the board.

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