Mortgage Industry News
Fairway Independent Mortgage Changes Its Name
The newly named Fairway Home Mortgage will highlight the tagline “All Roads Lead Home.” Continue Reading Fairway Independent Mortgage Changes Its Name
Refinancing Fuels Upswing in Mortgage Application Activity
The Refinance Index increased 7% from the previous week and was 40% higher than the same week one year ago. Continue Reading Refinancing Fuels Upswing in Mortgage Application Activity
Mortage Application Activity and Credit Availability in Decline
The Mortgage Credit Availability Index (MCAI) dropped by 0.5% to 98.5 in September. Continue Reading Mortage Application Activity and Credit Availability in Decline
Mortgage Rates Up Sharply
The 30-year fixed-rate mortgage averaged 6.32% as of Oct. 10, up from last week when it averaged 6.12%. Continue Reading Mortgage Rates Up Sharply
Mortgage Application Activity Slows Down
The seasonally adjusted Purchase Index dipped by a scant 0.1% from one week earlier. Continue Reading Mortgage Application Activity Slows Down
What are the problems in the real estate business today?
Debbie Bloyd is a contributing author to Weekly Real Estate News and can be contacted at 469-768-0337 or [email protected] In the real estate side of the business, there is still a lot of competition for homes. Builders are selling homes at pre-construction...
Why Rising Mortgage Rates Push Buyers off the Fence
Source: Keeping Current Matters --- you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about...
The housing market resembles 2007—these 3 interactives show if your local home prices are ‘overvalued’
Source: Fortune --- Simple economics dictates that neither home prices nor incomes can outgrow the other for very long. They go hand in hand. As incomes rise, those pour over into housing. In order for home price growth to stick around, there has to be a corresponding...
If You’re a Homeowner, You Have Incredible Leverage When You Sell Today
Source: Keeping Current Matters --- In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition...
Forbearance rate drops below 1%, lowest level since June 2020
Source: Housing Wire --- Servicers’ forbearance portfolio volume dropped in April to a level below 1%, with fewer than half a million borrowers remaining with an active plan, according to the monthly Loan Monitoring Survey conducted by the Mortgage Bankers...
Opinion: Use data to scale your mortgage servicing business
Source: Housing Wire --- Mortgage servicing is a scale business, meaning the economics of scale can be achieved with larger servicing portfolio by spreading the fixed costs among more loans being serviced. Such scaling; however, hasn’t achieved the expected results as...
Home Builders Warn of Significant Affordability Declines
Source: NAHB --- Housing affordability posted a modest gain for average conditions in the first quarter of 2022 as a strong jump in national median income helped to offset a gradual rise in interest rates. However, home builders warn of current deteriorating...
Are There More Homes Coming to the Market?
Source: Keeping Current Matters --- According to a recent survey from the National Association of Realtors (NAR), one of the top challenges buyers face in today’s housing market is finding a home that meets their needs. That’s largely because the inventory of homes...
Demand For Second Homes Is Way Down From Last Year’s Boom
Source: Redfin --- Demand for vacation homes is way down after last year’s pandemic-driven boom. Mortgage-rate locks for second homes were up 9.1% from pre-pandemic levels in April, essentially unchanged from a revised rate of 8.7% in March and down from 15% in...
Best Week For Rates in Almost 2 Years, But There’s a Catch
Source: Mortgage News Daily --- Mortgage rates have moved higher at the fastest pace in decades so far in 2022, but this week proved to be a refreshing exception. To understand why, we first need to examine the relationship between stocks and bonds, which is a bit...
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