Mortgage
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đŤREFINANCING DEMAND SKYROCKETS AS MORTGAGE RATES DROP đŤ
Mortgage rates have dipped, sparking a 35% surge in refinancing applications last week, according to the Mortgage Bankers Association (MBA).
Overall mortgage demand rose 15%, driven by this spike in refinances, while purchase applications only increased by 3%.
Year-over-year, refinancing demand soared 118%, with VA loan applications up 77%.
Experts caution this might be a temporary boost as mortgage bond prices fluctuate.
#Skyrockets #Mortgage #LowestCPI2021 #BinanceLaunchpoolTON #MarketDownturn
Mortgage rates have dipped, sparking a 35% surge in refinancing applications last week, according to the Mortgage Bankers Association (MBA).
Overall mortgage demand rose 15%, driven by this spike in refinances, while purchase applications only increased by 3%.
Year-over-year, refinancing demand soared 118%, with VA loan applications up 77%.
Experts caution this might be a temporary boost as mortgage bond prices fluctuate.
#Skyrockets #Mortgage #LowestCPI2021 #BinanceLaunchpoolTON #MarketDownturn
đťMORTGAGE RATES HIT YEARLY LOWS AMID RECESSION FEARSđť
Mortgage rates have dropped to their lowest point in over a year as recession fears grow. The 30-year fixed-rate mortgage fell to 6.34% on Monday, the lowest since April 2023, as reported by Mortgage News Daily.
This decline follows the Federal Reserve's hints at possible rate cuts and the recent jobs report. As of Thursday, the average 30-year mortgage rate was 6.48%, according to Intercontinental Exchange.
#BlackRockETHOptions #RoninBridgeAlert #MarketDownturn #Mortgage
Mortgage rates have dropped to their lowest point in over a year as recession fears grow. The 30-year fixed-rate mortgage fell to 6.34% on Monday, the lowest since April 2023, as reported by Mortgage News Daily.
This decline follows the Federal Reserve's hints at possible rate cuts and the recent jobs report. As of Thursday, the average 30-year mortgage rate was 6.48%, according to Intercontinental Exchange.
#BlackRockETHOptions #RoninBridgeAlert #MarketDownturn #Mortgage
The Shocking Truth About Mortgages and Home Ownership
Did you know that buying a $625,000 home with a 20% down payment and a 30-year mortgage at 6% interest will cost you a whopping $1,204,190.95?
Breakdown:
- Purchase price: $625,000
- Mortgage: $500,000
- Interest paid over 30 years: $579,190.95
- Total cost: $1,204,190.95
That's equivalent to a $3,345 monthly rental payment, plus maintenance and repairs!
But why are houses so expensive?
It's because people can borrow money created with the press of a button to buy them. If everyone had to pay cash, prices would drop significantly.
The harsh reality:
Mortgages aren't designed to help you. They're designed to earn profits for banks.
Think twice before signing that mortgage agreement. You might be paying more than you think.
Share this eye-opening truth with others!
#Mortgage
#HomeOwnership
#Profitfirst
#HousingMarket
#FinancialIntelligence
Breakdown:
- Purchase price: $625,000
- Mortgage: $500,000
- Interest paid over 30 years: $579,190.95
- Total cost: $1,204,190.95
That's equivalent to a $3,345 monthly rental payment, plus maintenance and repairs!
But why are houses so expensive?
It's because people can borrow money created with the press of a button to buy them. If everyone had to pay cash, prices would drop significantly.
The harsh reality:
Mortgages aren't designed to help you. They're designed to earn profits for banks.
Think twice before signing that mortgage agreement. You might be paying more than you think.
Share this eye-opening truth with others!
#Mortgage
#HomeOwnership
#Profitfirst
#HousingMarket
#FinancialIntelligence
đąđˇ Since 2020 We Have Seen:
1. #Inflation rise above 9% for the first time in 40 years
2. Second and third largest bank collapses in US history
3. Oil prices go from -$40 to $100+ in a matter of months
4. Fastest #Fed interest rate hike cycle of all time
5. Least affordable housing market in history
6. Over $8 trillion in US Federal debt borrowed
7. #Mortgage demand at its lowest since 1995
8. Total #US credit card debt hit a record $1 trillion
Yet, all three market indices are entering all time high territory.
Is this the most resilient market of all time?
These are just some of the countless headwinds this market has faced.
We have had every reason for stocks to fall over the last three years.
Yet, the market continues to push higher and prove its resilience.
Share with your friends
1. #Inflation rise above 9% for the first time in 40 years
2. Second and third largest bank collapses in US history
3. Oil prices go from -$40 to $100+ in a matter of months
4. Fastest #Fed interest rate hike cycle of all time
5. Least affordable housing market in history
6. Over $8 trillion in US Federal debt borrowed
7. #Mortgage demand at its lowest since 1995
8. Total #US credit card debt hit a record $1 trillion
Yet, all three market indices are entering all time high territory.
Is this the most resilient market of all time?
These are just some of the countless headwinds this market has faced.
We have had every reason for stocks to fall over the last three years.
Yet, the market continues to push higher and prove its resilience.
Share with your friends
đťAmericans have $1.14 trillion in credit card debtđť
According to the Federal Reserve Bank of New York, Americans' credit card debt totals $1.14 trillion. In the second quarter of 2024, the total debt was $27 billion less.
Total consumer debt is $17.8 trillion - this includes not only credit card debt, but also mortgages, student debt, auto loans, and so on.
By the way, mortgage and auto loan debt grew by $77 billion and $10 billion, respectively. Mortgage debt, the primary debt owed by consumers, is $12.5 trillion and auto loan debt is $1.6 trillion.
The only debt that decreased was student debt. It decreased by $10 billion during the quarter and now stands at $1.58 trillion.
#BankOfAmerica #Mortgage #creditcard #XRPVictory #MarketDownturn
According to the Federal Reserve Bank of New York, Americans' credit card debt totals $1.14 trillion. In the second quarter of 2024, the total debt was $27 billion less.
Total consumer debt is $17.8 trillion - this includes not only credit card debt, but also mortgages, student debt, auto loans, and so on.
By the way, mortgage and auto loan debt grew by $77 billion and $10 billion, respectively. Mortgage debt, the primary debt owed by consumers, is $12.5 trillion and auto loan debt is $1.6 trillion.
The only debt that decreased was student debt. It decreased by $10 billion during the quarter and now stands at $1.58 trillion.
#BankOfAmerica #Mortgage #creditcard #XRPVictory #MarketDownturn
