Aramco Report

The Blog
Mortgage rates fall to new all-time low

Investors reacting to economic woes fled Wall Street for the surety of the bond market this week, driving mortgage rates to another record low. According to Freddie Mac, it is the second time in two weeks average mortgage rates set a new low since data tracking began in 1971. Bond yields, which mor...

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Housing starts increase following pandemic downturn

Construction crews are returning to the jobsite after months of slowdowns in home building. While construction was considered an essential business in much of the U.S. throughout the pandemic, a significant slowdown still caused stagnation and work stoppages. Housing starts gained 4.3 percent in May...

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Homeowners still antsy about mortgage payments

Even with most sectors of the economy reopening and once-shuttered businesses coming back to life, a new survey has found that many homeowners are still feeling some level of concern about their monthly mortgage payment. The survey, conducted by Clever, has found that record joblessness and insecuri...

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Home buying demand unphased by pandemic

Home buyer demand has now risen for eight consecutive weeks, according to a new report, suggesting that the ongoing coronavirus pandemic has done very little to deter the ambitions of those looking for a new home. According to Redfin, demand for housing last week was 25 percent higher than it was in...

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Real estate activity returning to pre-COVID levels

Some experts believe that the U.S. economy will take nearly a year or more to recover from the self-imposed downturn caused by the coronavirus pandemic. But one sector of the economy that appears to be ahead of that curve is the real estate market. According to new data, historically low mortgage ra...

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Home prices appear unaffected by pandemic

The global outbreak of disease, record unemployment and a turbulent stock market did very little to impact home prices in the first few months of 2020. According to a report from CoreLogic, approximately 63 percent of all homeowners in the U.S. saw an increase in equity during the first quarter of t...

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Home flipping grows in Q1

The coronavirus pandemic has done very little to slow down investors who flip homes. According to new figures from ATTOM Data Solutions’ first-quarter 2020 U.S. Home Flipping Report, there were 53,705 single-family homes and condominiums flipped in Q1 2020. That represents 7.5 percent of all home sa...

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Mortgage applications surge 13%

Applications to purchase and refinance mortgages continue to climb as rates remain near rock-bottom levels. Purchase applications climbed for the eighth straight week, bringing the current volume to 13 percent higher than the same time last year. This latest information comes from the Mortgage Banke...

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Foreclosure volume falls to all-time low

Default notices, scheduled auctions or bank repossessions of homes in the U.S. fell to a record low last month according to a new report. ATTOM Data Solutions Foreclosure Market activity analysis showed a total of 8,767 U.S. properties with foreclosure filings in May. This is the lowest number since...

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Mortgages in forbearance continues to grow

Even as the worst of the coronavirus pandemic winds down in most parts of the U.S., the number of homeowners across the nation who have delayed or skipped mortgage payments continues to grow. According to new data from the Mortgage Bankers Association, nearly 4.3 million mortgages or 8.53 percent of...

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