Mortgage Industry News
New Home Purchase Mortgage Applications Surged in March
The average loan size for new homes decreased from $397,516 in February to $381,921 in March. Continue Reading New Home Purchase Mortgage Applications Surged in March
Ohio AG Sues United Wholesale Mortgage, Claiming ‘Conspiracy’ with Brokers
Yost launched his campaign for governor in January. Continue Reading Ohio AG Sues United Wholesale Mortgage, Claiming ‘Conspiracy’ with Brokers
Mortgage Rates Down for Third Straight Week
The 30-year fixed-rate mortgage averaged 6.87% as of June 20. Continue Reading Mortgage Rates Down for Third Straight Week
Mortgage Application Activity on the Rise
“Purchase volume is still more than 10% behind last year’s pace,” said Mike Fratantoni, MBA’s senior vice president and chief economist. Continue Reading Mortgage Application Activity on the Rise
CFPB Issues Bans to Reverse Mortgage Servicers
The CFPB issued permanent bans against Sutherland Global, Sutherland Government Solutions and NOVAD Management Consulting Continue Reading CFPB Issues Bans to Reverse Mortgage Servicers
Rising mortgage rates could slow house price surge
Source: Axios --- Mortgage rates have jumped to their highest level since early 2020. Why it matters: The rising cost of home loans could slow the booming American market for residential real estate. State of play: Across the country, house prices have exploded over...
Housing Market Update: Home Prices Start New Year at New High
Source: Redfin News--- The median home sale price surged 16% year over year during the week ending January 9 to an all-time high of $365,000. Prices keep climbing because the supply drought keeps deepening while demand increases. The number of homes for sale fell to a...
Black Mortgage Applicants Denied 84% More Often than White Borrowers
Source: Zillow --- The Black homeownership rate has rebounded modestly from recent lows, but remains below its early 2000s peak as racial disparities in the mortgage and housing markets widened throughout the early part of the pandemic, according to a Zillow analysis...
Mortgage rates surge to highest level since May 2020
Source: Fox Business --- Mortgage rates surged at the start of 2022 to the highest level in nearly two years as markets reacted to the news that the Federal Reserve is considering raising rates soon, according to the latest data from Freddie Mac. The 30-year...
A pickup in purchases or a sales slowdown? Experts split on what to expect
Source: Scotsman Guide --- Will an influx of new inventory push home sales in 2022, or will falling affordability push buyers to the sidelines and dampen activity? A new Zillow poll has revealed that economists and housing industry observers are split on where the...
Purchase loans drive mortgage applications higher
Source: Housing Wire --- Mortgage applications climbed 1.4% for the week ending Jan. 7, 2022, according to a survey published by the Mortgage Bankers Association this week. The growth was buoyed by a 2% increase in the trade group’s seasonally adjusted purchase index,...
Fear of even higher mortgage rates may be heating up winter homebuying
Source: CNBC --- Mortgage rates have moved to their highest level in more than a year, and that may have potential homebuyers nervous that their affordability window is closing faster than expected. Home prices are still gaining, and winter is historically the slowest...
States and cities with the cheapest houses in 2022
Source: The Mortgage Reports --- As home prices keep climbing, many would-be buyers are looking outside their current ZIP codes for affordable housing. The good news is, home prices aren’t rising at the same pace everywhere. If you’re looking for affordable homes in...
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...
