Lunch & Learn: The State of Housing

As housing supply dwindles, affordability concerns grow while competition heats up the market. This Lunch & Learn will examine the current state of housing, featuring experts who have an eye on the market.

HousingWire Annual Virtual Summit

Join us on October 25 for a chance to see a handpicked selection of sessions from HousingWire Annual along with technology demos from the most innovative tech companies! Register now for FREE to experience HW Annual just like you were there.

How credit scores impact lenders’ pipelines in a purchase market

When a lender works with a borrower to improve their credit score, they are able to offer the most competitive rate and terms. Learn more here!

Volly’s Grant Moon on challenges facing veterans

In this episode of HousingNews, we are joined by Grant Moon who discusses the difficulties veterans face during the home-buying process and misconceptions about VA loans.

Zillow 30-year mortgage rates go up, CEO steps down

The 30-year, fixed-mortgage rate increased last week to 4.32% from a near-record low of 4.27% the week prior, according to the Zillow Mortgage Marketplace weekly update. Weekly rates were made available the same day the co-founder and chief executive officer, Rich Barton, announced he was stepping down from his position. He will still remain at Zillow as executive chairman and Spencer Rascoff will take his place as CEO. Rascoff previously served as vice president of lodging at Expedia, which he joined after InterActiveCorp‘s $675 million acquisition of discount travel site in 2003. He founded in 1999. Rascoff joined Zillow in 2005 and has acted as chief operating officer since 2008. The national average rate fell steadily through August. Zillow said the current 15-year, fixed average rate is 3.76% and the rate for a 5-1 adjustable rate mortgage is 3.27%. That type of mortgage maintains a steady rate for five years and then is adjusted annually thereafter. Regionally, 30-year rates vary, but the majority of states witnessed an inflation. Rates in Florida rose to 4.36% from 4.19% the previous week, Pennsylvania’s average rate was 4.39% last week, up from 4.31%, California’s rate increased to 4.32% from 4.26%, and Massachusetts saw its average rate climb to 4.32% from 4.24%. Meanwhile New York’s current rate of 4.31% is down from 4.35% last week. New Jersey’s average rate for a 30-year fixed mortgage fell to 4.28% from 4.36% at Aug. 31. Zillow bases its averages on real-time mortgage quotes from lenders registered with the company. The national average comes from thousands of daily quotes by anonymous borrowers through the Seattle-based company’s website. Write to Christine Ricciardi.

Latest Articles

Are you ready for the new CFPB director?

Over the last month, two of the biggest housing regulators either changed or were rumored to change leadership. Senior Mortgage Reporter Georgia Kromrei helps shed some light on these changes in this Q&A. HW+ Premium Content

Oct 15, 2021 By
3d rendering of a row of luxury townhouses along a street

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