Mortgage Industry News
Mortgage Applications for New Home Purchases Down in May
The average loan size for new homes increased from $376,992 in April to $379,209 in May. Continue Reading Mortgage Applications for New Home Purchases Down in May
Premier Mortgage Resources Debuts Specialty Products Division
“The mortgage landscape is evolving, and so are the needs of our clients,” said Cory Swain, CEO. Continue Reading Premier Mortgage Resources Debuts Specialty Products Division
Mortgage Application Activity Drops, Forbearance Levels Rise
The total share of loans now in forbearance increased to 0.27% as of July 31 Continue Reading Mortgage Application Activity Drops, Forbearance Levels Rise
Mortgage Rates Record Slight Uptick
The 30-year fixed-rate mortgage averaged 6.49% as of Aug. 15, up from last week when it averaged 6.49%. Continue Reading Mortgage Rates Record Slight Uptick
Mortgage Application Activity Up Nearly 17%
The Refinance Index increased by a vibrant 35% from the previous week. Continue Reading Mortgage Application Activity Up Nearly 17%
1 in 10 Homebuyers & Sellers Say Climate Risk is Main Reason For Move: Redfin Survey
Source: Redfin News --- One in 10 homebuyers and sellers say climate-related risks—hurricanes, flooding, wildfires, extreme temperatures and/or rising sea levels—are the primary reason for their move, and 39% say they’re a contributing factor. That’s according to a...
Another foray into the frontier: Digital bank announces crypto mortgage product
Source: Scotsman Guide --- Another company is testing the waters of cryptocurrency within the real estate lending realm as Miami-based digital bank Milo announced a new crypto mortgage product. Touting “the world’s first crypto mortgage offering,” Milo said that its...
Mortgage apps up 2.3% with new record average loan size
Source: Housing Wire --- Mortgage applications increased 2.3% from the previous week, largely due to a strong purchase market, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. 14. The seasonally adjusted Purchase Index rose 7.9% from...
3 in 5 Home Offers Faced Bidding Wars in December, Even Amid Holiday Slowdown
Source: Redfin News --- Nationwide, 59.6% of home offers written by Redfin agents faced bidding wars in December 2021, the lowest share in 12 months. That’s down from a revised rate of 61.3% in November, but up from 54% in December 2020. An offer is considered part of...
Rising mortgage credit availability to help offset rising rates
Source: WTOP News --- Banks and other lending institutions clamped down on lending standards when the pandemic hit, but mortgage credit availability has been easing in recent months. The Mortgage Bankers Association’s Mortgage Credit Availability Index rose 0.8% in...
SRE TECHNOLOGIES SPENDING MONEY TO ATTRACT BORROWERS TO NEW PORTAL
SOURCE: EIN PRESSWIRE SRE Technologies, Based in Torrance, Calif., has completed work on the company’s online destination for home buyers and sellers and are now promoting the offering to consumers in markets across the state of Utah. The company’s new web portal is...
How Much Will Today’s Median Home Price—$375K—Really Get You Across the U.S.?
Source: Realtor.com --- Homebuyers these days are one stressed-out group, and they have plenty of questions. They want to know how high mortgage rates will rise. How to win insane bidding wars. Whether to join the suburban rush or the big-city retreat. Whether the...
How much do you have to earn to afford Salt Lake County’s median-priced home?
Source: KSL.com --- SALT LAKE CITY — In a matter of six years, the annual income needed in order to afford a median-priced home in Salt Lake County has nearly doubled. Let that sink in. In 2015, a median-priced home in Salt Lake County cost about $248,400. The annual...
Mortgage Rates Are Surging, Hitting Highest Point Since March 2020. Will Home Prices Have To Fall?
Source: Realtor.com --- Buying a home just became a lot more expensive—and it’s expected to only get worse in the coming months. Mortgage interest rates surged to their highest point since March 2020—the earliest days of the coronavirus pandemic—indicating that the...
ATTOM: Foreclosure Activity Hit All-Time Low In 2021
Source: National Mortgage Professional --- Foreclosure filings — including default notices, scheduled auctions, and bank repossessions — were reported on 151,153 U.S. properties in 2021, down 29 percent from 2020 and down 95 percent from a peak of nearly 2.9 million...
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