Mortgage Industry News
Report: Large Banks Originating More ARMs
“Future reset risk is mitigated by large banks’ continued focus on lending to borrowers with high credit scores and low leverage,” the report said. Continue Reading Report: Large Banks Originating More ARMs
Mortgage Rates Record New Uptick
The 30-year fixed-rate mortgage averaged 6.72% as of July 10. Continue Reading Mortgage Rates Record New Uptick
Mortgage Rates Drop Below 7%
The 30-year fixed-rate mortgage averaged 6.96% as of Jan. 23. Continue Reading Mortgage Rates Drop Below 7%
Mortgage Application Activity is Dull, Forbearance Levels Drop
“Almost 43% of borrowers in forbearance were there due to a natural disaster,” said MBA’s Marina Walsh. Continue Reading Mortgage Application Activity is Dull, Forbearance Levels Drop
A&D Mortgage Acquires Wholesale Mortgage Origination Business from Mr. Cooper
The acquisition expands A&D’s broker network to more than 8,500 partners. Continue Reading A&D Mortgage Acquires Wholesale Mortgage Origination Business from Mr. Cooper
Mortgage rates fall for the second week in a row
Source: CNN --- Mortgage rates dropped again this week, after plunging nearly half a percentage point last week. The 30-year fixed-rate mortgage averaged 6.58% in the week ending November 23, down from 6.61% the week before, according to Freddie Mac. A year ago, the...
Mortgage demand rises 2.2% as interest rates decline slightly
Source: CNBC --- Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most...
The Housing Market is Worse Than You Think
Source: Advisor Perspectives --- Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives. What I am about to share with you is an excerpt from a fall letter I wrote to IMA clients. It is...
When Will The Housing Market Bottom? Ryan Frazier Weighs In
Source: Bezinga --- The U.S. housing market is now slowing down after a record-breaking run that saw home values soar to new highs and mortgage rates drop to historic lows. Although demand and price growth are slowing, analysts and housing economists predict that any...
The U.S. Needs More Housing Than Almost Anyone Can Imagine
Source: The Atlantic --- How many homes must the United States’ expensive coastal cities build to become affordable for middle-class and working-poor families again? Over the past few weeks, I asked a number of housing experts that question. I expected a...
October Was a Spooky Month for the U.S. Housing Market
Source: Mansion Global --- Would-be buyers are turning their backs on the turbulent U.S. housing market in droves, according to new data released from Redfin on Monday. The number of pending sales, the amount of deals being scrapped and the proportion of homes seeing...
Mortgage demand rises 2.2% as interest rates decline slightly
Source: CNBC --- Mortgage applications rose 2.2% last week compared with the previous week, prompted by a slight decline in interest rates, according to the Mortgage Bankers Association’s seasonally adjusted index. Refinance applications, which are usually most...
Reverse mortgages explained
Source: Observer Reporter --- Q. With reference to a recent column in which the reader said she had lost her home to a reverse mortgage, there are two primary ways this can happen, and I want to explain how to avoid this so that it never happens to any other reader....
mortgages Zero-down loans for homebuyers preparing to go expansion route
Source: Insurance News Net --- Nearly a year into a special lending program aimed at underserved homebuyers, the initiative is soon to expand from a few banks to mainstream, nonbanking lenders. Could these good intentions be the beginning of our next lending debacle?”...
Mortgage rates just took the biggest plunge since 1981 — but analysts say the market is ‘not out of the woods yet’
Source: Yahoo! Finance --- Mortgage rates tumbled by their biggest weekly drop in four decades after new data suggested inflation could be starting to cool. Consumer prices rose by 7.7% in October — a slower pace than economists predicted — and the average rate on a...
