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Mortgage Rates Down Slightly This Week
“Mortgage rates decreased after a three-week climb,” said Sam Khater, Freddie Mac’s chief economist.
One-Third of Homebuyers Now Paying in All-Cash Deals
Only 6.1% of mortgaged home sales used a jumbo loan in April, down from 10.6% a year earlier.
Mortgage Application Activity Down for Fourth Consecutive Week
The refinance share of mortgage activity increased to 27.3% of total applications from 26.7% in the previous week.
Fred Behnke Named Head of Regions Bank’s Homebuilder Finance Team
Behnke most recently served as regional manager for the company’s east region.
Look Up, Folks, Because That’s Where Mortgage Rates Are Heading!
A year ago at this time, the 30-year fixed-rate mortgage averaged 5.09%.
Q1 Mortgage Origination Activity at 23-Year Low
On the refinance side, only 407,956 mortgages were rolled over into new ones – the smallest amount this century.
Mortgage Application Activity Continues to Decline
There was less interest from borrowers for purchase loans and refinancing.
GOP Governors Call on Biden to Rescind LLPA Changes
“Only the Biden administration would think it can solve a supply issue by subsidizing demand and bad credit,” said Missouri Gov. Mike Parson.
SouthState Bank Launches Fund to Help LMI Borrowers Achieve Homeownership
To finance the fund, SouthState allocated $10 million that will be drawn from over a three-year period.
UK Homeowners Facing Mortgage Rates Over 5%
Unlike the U.S., mortgage borrowers in the U.K. are required to renew mortgages on a cyclical basis.
Colonial Savings Exits the Origination Space, Focusing on Mortgage Servicing
The company’s origination business has its roots in Fort Worth Mortgage, which was founded in 1952.
Mortgage Rates Go Up, Up and Away
The national median mortgage payment during April was $2,112, an 11.8% spike from $1,889 in April 2022.
Mortgage Delinquency Rate Crashes to a New Low
No state posted an annual increase in overall delinquency rates in March.
Mortgage Application Activity Sinks Amid Economic Tumult
“We have yet to see sustained growth in purchase applications,” said MBA’s Joel Kan.
Mortgage Delinquency Rate Bounced Up in April
Foreclosure starts dropped by 23% to 25,000, the lowest since September 2022.