Mortgage Industry News
Mortgage Marketing Vault Launches as Platform for Loan Officers
The new platform offers online marketing content including social media posts, videos and blog articles to templates and printables. Continue Reading Mortgage Marketing Vault Launches as Platform for Loan Officers
Mortgage Application Activity Surges by 20%
The Refinance Index increased 35% from the previous week – the highest level in six months. Continue Reading Mortgage Application Activity Surges by 20%
Mortgage Application Activity Up 1.6%
Among the federal programs, the FHA share of total applications decreased to 14.6% from 15.3% the week prior. Continue Reading Mortgage Application Activity Up 1.6%
Mortgage Rates Drop Again
The 30-year fixed-rate mortgage averaged 6.35% as of Aug. 29. Continue Reading Mortgage Rates Drop Again
Home Mortgage Lending Records Q2 Rebound
Purchase loan activity was up by 32.7% while refinance deals rose by 10.3%. Continue Reading Home Mortgage Lending Records Q2 Rebound
5 things to know about adjustable rate mortgages
Source: National Mortgage News --- Adjustable rate mortgage originations are on the rise Adjustable rate mortgage offers made to consumers searching for loans on LendingTree have zoomed in the past 12 months, increasing 230% through the first half of this year from...
China Banks May Face $350 Billion in Losses From Property Crisis
Source: Bloomberg --- China’s banks face mortgage losses of $350 billion in a worst-case scenario as confidence plunges in the nation’s property market and authorities struggle to contain deepening turmoil. A spiraling crisis of stalled projects has dented the...
Mortgage rates fall sharply after negative GDP report and Fed’s latest hike
Source: CNBC --- Just one day after the Federal Reserve raised its benchmark rate, mortgage rates took a sharp turn lower. The average rate on the popular 30-year fixed mortgage fell to 5.22% on Thursday from 5.54% on Wednesday, when the Fed announced its latest rate...
Housing Market Update: Uptick in Searches and Tours Highlight Buyers’ Mortgage-Rate Sensitivity
Source: Redfin --- Since mortgage rates came down from their June high, measures of early demand like online real estate searches and home tours have ticked up and/or stabilized. A half-point drop in mortgage rates from their June high is drawing some homebuyers back...
Latest mortgage news: Rates retreat, might have already hit ‘cyclical high’
Source: Bankrate --- The Federal Reserve on Wednesday moved aggressively to rein in inflation, announcing its second consecutive rate hike of three-quarters of a percentage point. Counterintuitively, the average rate on 30-year mortgages fell to 5.59 percent this week...
The nation’s housing market is on a correction course
Source: Housing Wire --- Rising interest rates and a slowing economy overall are already taking some of the air out of the rapid home-price appreciation the housing market has experienced over the past year, according to the recently released Federal Reserve Beige...
Share of New Home Sales Backed by FHA Loans Reaches 14-Year Low
Source: NAHB --- NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% in Q2 2022–its smallest share since...
Mortgage Rates Moving LOWER After Fed Hikes by 0.75%
Source: Mortgage News Daily --- The Federal Reserve concluded one of its 8 regularly scheduled meetings in 2022 today. As expected, they announced a rate hike of 0.75%. But if you still think that means mortgage rates moved higher, think again. In fact, if you're not...
Questions to expect from mortgage lenders
Source: Bankrate --- In the mortgage application process, mortgage lenders assess their risk and collect proof that the borrower can and will repay the loan in a timely manner. This proof includes everything from your credit and how much money you earn to your...
30-year mortgage refinance rates plunge three quarters of a point
Source: Fox Business --- What this means: Mortgage refinance rates fell significantly today, with 30-year rates hitting their lowest levels in 34 days. Rates for 20-, 15- and 10-year refinances are also at their lowest levels since the beginning of the month. With the...
