Mortgage Industry News
Mortgage Application Activity and Credit Availability in Decline
The Market Composite Index, the MBA’s measure of mortgage loan application volume, decreased 10% on a seasonally adjusted basis. Continue Reading Mortgage Application Activity and Credit Availability in Decline
Trump Accuses Sen. Adam Schiff of Mortgage Fraud, Says He ‘Needs to be Brought to Justice’
The Fannie Mae website has no mention of an investigation into Schiff. Continue Reading Trump Accuses Sen. Adam Schiff of Mortgage Fraud, Says He ‘Needs to be Brought to Justice’
Market Spotlight: Four New Regional Programs for Borrowers
A quartet of new regionally focused programs for current and prospective homeowners have been announced this week. Westerly, Rhode Island-based Washington Trust has expanded its RI Community Lending Program with the addition of I Luv RI Home Improvement Loans as home...
Mortgage Application Activity Drops by 1.3%
The VA share of total applications dropped to 15.4% from 18.3%. Continue Reading Mortgage Application Activity Drops by 1.3%
Rocket Mortgage Partners with Annaly in Mortgage Subservicing Pact
Rocket Mortgage is expected to begin servicing loans for Annaly as early as December. Continue Reading Rocket Mortgage Partners with Annaly in Mortgage Subservicing Pact
Housing Market Update: Surging Mortgage Rates and Home Prices Sideline More Buyers
Source: Redfin --- Mortgage rates are shooting up at the fastest pace in history, sending the typical monthly mortgage payment for a homebuyer up more than $500 since the beginning of this year. As rates quickly approach 5%, we expect their impact on homebuyer demand...
Mortgage delinquencies rose for the first time in 9 months. Here’s what that means for the housing market.
Source: Market Watch --- Mortgage delinquencies are on the rise. Indeed, in February, the national delinquency rate rose for the first time in 9 months, largely driven by a 97,000 rise in early-stage delinquencies — or those that were 30 – 60 days past due, according...
Real Estate newsletter: The ultimate home-buying guide
Source: Los Angeles Times --- Welcome back to the Real Estate newsletter. We have a big one for you this week. That’s because “The Great SoCal House Hunt,” our all-encompassing, step-by-step guide to buying your first home in Southern California, has published. Not to...
March 2022 Monthly Housing Market Trends Report
Source: Realtor --- Realtor.com®’s March housing data release reveals that the one-two-punch of rising interest rates and all-time high listing prices has moderated demand for homes. A decline in the churn of listings, consistent with recent slow-downs as reported for...
What is a housing bubble? Answering your questions as housing market spikes, raises concerns
Source: USA Today --- America's real estate market may be showing signs of a housing bubble as prices become “unhinged from fundamentals,” according to the authors of a blog post published by the Dallas Federal Reserve Bank. House prices can fall out of sync with...
Mortgages Rates Surge to Highest Since 2018
Source: The Wall Street Journal --- The average rate for a 30-year fixed-rate loan jumped to 4.67%, mortgage-finance giant Freddie Mac said Thursday, marking the weekly figure’s highest reading since December 2018. The 30-year fixed rate rose from 4.42% a week ago,...
Inside the government’s feeble fight to end redlining
Source: Housing Wire --- Redlining is a five-alarm word in the lexicon of American racism, but it really has a quite specific definition: The denying of credit in non-white, particularly Black neighborhoods. The federal government was for redlining before it was...
Should You Waive Contingencies To Win a Home? 4 Situations When It Might Be OK
Source: Realtor --- This is not an easy time for homebuyers. Simply put, housing inventory is at historic lows and home prices are at historic highs, resulting in one of the most competitive times to buy a house ever. This red-hot market has prompted many buyers to go...
How Skyrocketing Gas Prices Affect the Real Estate Market
Source: The Motley Fool --- Inflation's impact on energy costs was already being felt before the Russia-Ukraine conflict, but now new sanctions restricting the exportation of fuel are exacerbating the problem and causing gas prices to soar. While it may not seem like...
Condo Prices Jump to Record High as Buyers Seek Relative Affordability
Source: Redfin --- The typical U.S. condo sold for a record $319,000 in February, up 14.6% from a year earlier and 22.7% from two years earlier, just before the pandemic began. Condos are in demand partly because they’re a comparatively affordable option amid...
