Mortgage Industry News
Three Bay Area Real Estate Professionals Sentenced for Mortgage Fraud Scams
“The defendants tried to line their own pockets at the expense of homebuyers, lenders, and federally insured programs,” said US Attorney Ismail J. Ramsey. Continue Reading Three Bay Area Real Estate Professionals Sentenced for Mortgage Fraud Scams
Mortgage Rates Stay Flat Ahead of Holiday Weekend
The 30-year fixed-rate mortgage averaged 6.81% as of Nov. 27. Continue Reading Mortgage Rates Stay Flat Ahead of Holiday Weekend
Fannie Mae Upgrades Data Validation Capabilities in Desktop Underwriter
“We are removing a hurdle from the loan application process,” said Cyndi Danko, senior vice president and single-family chief credit officer. Continue Reading Fannie Mae Upgrades Data Validation Capabilities in Desktop Underwriter
Mortgage Applications Up 9.7%
The Refinance Index increased 8% from the previous week and was 2% lower than the same week one year ago. Continue Reading Mortgage Applications Up 9.7%
Mortgage Rates Up for Fourth Straight Week
“The recent boomerang in rates has dampened already tentative homebuyer momentum as we approach the spring,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates Up for Fourth Straight Week
Mortgage delinquency rate reaches prepandemic levels
Source: Housing Wire --- Mortgage delinquency rates hit pre-pandemic levels in October due to labor market improvements and home equity increases, according to the most recent CoreLogic Loan Performance Report. The expectation is that rates will continue to decline...
Is it too late to refinance? With mortgage rates on the rise, here are your options
Source: CNBC --- For many homeowners, the pandemic offered an unprecedented opportunity to build wealth. Those opportunities still exist, even though they are getting harder to come by. Thanks to skyrocketing housing prices, the amount of home equity is at an all-time...
12% of First-Time Homebuyers Say Selling Crypto Helped Save for Down Payment, Up From 5% in 2019
Source: Redfin--- One in nine first-time homebuyers (11.6%) surveyed in the fourth quarter said selling cryptocurrency helped them save for a down payment. That’s up from 8.8% in the third quarter of 2020 and 4.6% in the third quarter of 2019. This is according to a...
Domestic Sawmill Output Continues to Lag Home Construction
Source: NAHB Now --- With an historically low level of overall housing inventory and solid demand because of low mortgage interest rates and favorable demographics, new construction has been unable to add needed supply to the market because domestic production from...
Higher rates coming for high-balance and second home loans
Source: The Mortgage Reports --- The Federal Housing Finance Agency announced it will increase fees on certain home loans starting Apr. 1, 2022. These new upfront fees will affect high–balance and second home mortgages sold to Fannie Mae and Freddie Mac. And, as is...
Mortgage Rates Hit Highest Levels Since Spring 2020
Source: The Wall Street Journal --- U.S. mortgage rates this week rose to their highest levels since May 2020, driving up the costs associated with home buying at a time when home-sales prices are already near record highs. The average rate for a 30-year fixed-rate...
Housing Market Update: Homebuyers Face Record Supply Shortage Heading into 2022
Source: Redfin --- The housing market started off the new year with fewer homes for sale than ever before, as active listings fell 27% from a year earlier. The number of newly-listed homes for sale fell 10%, but anecdotes from Redfin agents suggest that listings may...
Planning a Real Estate Play In 2022? Farmland May Be Your Best Long-Term Bet
Source: MoneyWise --- If you’re a commercial real estate investor, you’re already familiar with the sector’s appeal: Steady income, relatively low maintenance and long-term leases that cut down on the risk of vacancies. But you also know that now is not necessarily an...
Mortgage applications decrease over last week of 2021
Source: MPA --- Mortgage applications decreased over the last week of 2021, according to recent data from the Mortgage Bankers Association (MBA). MBA’s latest weekly mortgage applications survey revealed that mortgage applications for the week ending December 31,...
Real estate market in 2022 will ‘remain very strong,’ expert says
Source: Fox Business --- Compass Executive Vice President Mike Aubrey argued on Wednesday that 2022 will still experience a "really good real estate market," but acknowledged that the "frenzy of 2021" likely won't happen again. Aubrey stressed, however, that the...
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