Mortgage Industry News
Multifamily Mortgage Lending Up 17%
More than half (53%) of the active lenders made five or fewer multifamily loans over the course of the year. Continue Reading Multifamily Mortgage Lending Up 17%
Mortgage Rates Continue to Fall
“As rates continue to drop, the number of homeowners who have the opportunity to refinance is expanding,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates Continue to Fall
Fannie Mae Forecasts Declining Mortgage Rates for 2025 and 2026
The revised forecast was mirrored by a mild upward revision for predicted existing home sales in 2025. Continue Reading Fannie Mae Forecasts Declining Mortgage Rates for 2025 and 2026
Mixed Results in Latest Mortgage Rate Data
The 30-year fixed-rate mortgage averaged 6.65% as of March 13 Continue Reading Mixed Results in Latest Mortgage Rate Data
CFPB Seeks to Vacate Redlining Settlement with Townstone Financial
The CFPB is seeking to return the $105,000 settlement funds to the company. Continue Reading CFPB Seeks to Vacate Redlining Settlement with Townstone Financial
Mortgage refinance demand surged 6%, as rates dropped to the lowest level since September
Source: CNBC --- Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. Applications to refinance a home loan jumped 6% last week from the...
3 Signs You’re About to Use the Wrong Mortgage Lender
Source: The Ascent --- These days, signing a mortgage means taking on a really big financial commitment. Home values are still elevated on a national level, and mortgage rates are the highest they've been in decades. And so chances are, if you're taking out a...
Borrowers need to cut subscriptions before mortgages, say brokers
Source: FT Adviser --- Homeowners weighing up forbearance options in light of rising interest rates should be making cuts to their subscriptions before they consider making changes to their mortgages, brokers have said. This month, chancellor Jeremy Hunt and the...
Higher mortgage rates depress U.S. single-family housing starts, building permits
Source: Reuters --- WASHINGTON, Dec 20 (Reuters) - U.S. single-family homebuilding tumbled to a 2-1/2-year low in November and permits for future construction plunged as higher mortgage rates continued to depress housing market activity. The dour report from the...
What You Need to Earn to Buy a Home in the Largest U.S. Cities
Source: New York Times --- As prices rise, higher mortgage payments follow, and after nearly three years of rapid home appreciation during the pandemic, qualifying for a home loan is more difficult than ever. Today’s buyers also face the additional cost of rising...
Mortgage refinance demand surged 6%, as rates dropped to the lowest level since September
Source: CNBC --- Mortgage interest rates dropped again last week, and while that did little to bolster demand from homebuyers, it did send homeowners looking for savings on their monthly payments. Applications to refinance a home loan jumped 6% last week from the...
High mortgage rates limit relocation options, Redfin says – Here’s where homebuyers are still moving to
Source: Fox Business --- The search for affordable housing remains a top motivator for homebuyers who are looking to relocate to a new city, according to Redfin’s third quarter migration report. In the third quarter of 2022, a record 24.2% of homebuyers looked to...
Thinking of Refinancing? Be Prepared for This Little-Known Cost
Source: The Ascent --- Right now isn't the best time to be hunting for a deal on a new mortgage loan, but what if you already own a home and are hoping to refinance it and get a different mortgage rate? Rates are up across the board, so you may not save money on...
4 Ways to Save Up a Home Down Payment in 2023
Source: The Ascent --- If you're hoping to buy a home in 2023 or soon after, you'll need to get to work on saving up a down payment if you haven't already done so. Most mortgage lenders do require at least a small down payment, and a larger one of 20% of your home's...
After the most recent Fed rate hike, where are mortgage rates headed?
Source: KCRA News --- WASHINGTON — The Federal Reserve hiked its benchmark lending rate this week for the seventh time this year, capping a year of intense pressure on the housing market that pushed mortgage rates above 7% for the first time since 2002. But now that...
