U.S. mortgage rates fell last week to their lowest level since early March, a reprieve for potential homebuyers and an industry seeking a much-needed demand tailwind.
Walter Melanson, co-founder and market analyst at PropertyGuys.com, joins BNN Bloomberg to discuss the changing realtor behaviour amid real estate commission la
The contract rate on a 30-year fixed mortgage dropped 13 basis points to 6.87 per cent in the week ended July 12, according to Mortgage Bankers Association released Wednesday. The rate on the 15-year mortgage declined to 6.49 per cent. A seasonally adjusted gauge of mortgage applications to buy a home slipped 2.7 per cent, the report showed. Data can be volatile around holidays and the latest weekly figures followed Independence Day. On an unadjusted basis, purchase applications jumped 22 per cent.
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