Mortgage application activity continued to wither as inquiries for purchase loans evaporated to a level not seen in nearly three decades, according to the latest data from the Mortgage Bankers Association (MBA) tracking the week ending Aug. 18. The Market Composite...
The U.S. foreclosure inventory in July descended to its lowest level in 15 months, according to new data from Black Knight Inc. (NYSE:BKI). The total U.S. loan delinquency rate last month was 3.21%, up 9 basis points from the previous month but down 12 basis points...
The total number of loans in forbearance during July totaled approximately 195,000, according to data from the Mortgage Bankers Association (MBA). This represents a 5-basis-point decline from 0.44% of servicers’ portfolio volume in June to 0.39% in July. In July 2023,...
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $534 on each loan they originated in the second quarter, according to data from the Mortgage Bankers Association (MBA). The second quarter results marked an...
Nearly one-third of Canadian homeowners have fallen into despair over their mortgage situation, according to a new survey conducted by the Real Estate and Mortgage Institute of Canada (REMIC). In a poll of 1,000 Canadian adults, 34.1% of respondents said that “they...
The 30-year fixed-rate mortgage averaged 7.09% as of Aug. 17, according to new data from Freddie Mac’s (OTCQB:FMC)) Primary Mortgage Market Survey. Last week, this mortgage averaged 6.96%, while one year ago it averaged 5.13%. The current level is the highest in...
Hits and Misses for the Real Estate Week of June 29-July 3
