Mortgage Industry News
Mortgage Application Activity Slows Again
Among the federal programs, the FHA share of total applications decreased to 18.3% from 18.8% the week prior. Continue Reading Mortgage Application Activity Slows Again
FHFA Gives Green Light for Use of FICO 10T Score Data
FICO announced the news in a corporate blog post; the FHFA has yet to make a formal announcement. Continue Reading FHFA Gives Green Light for Use of FICO 10T Score Data
Mortgage Rates Rise for Second Straight Week
The 30-year fixed-rate mortgage averaged 6.34% as of Oct. 2. Continue Reading Mortgage Rates Rise for Second Straight Week
Mortgage Application Activity Drops by Nearly 13%
The Refinance Index plummeted by 21% from the previous week. Continue Reading Mortgage Application Activity Drops by Nearly 13%
MISMO Releases AI Glossary for Mortgage Finance Industry
The glossary will be updated as new AI advancements emerge. Continue Reading MISMO Releases AI Glossary for Mortgage Finance Industry
New Click n’ Close Loan Program Aimed at Rural Markets
The new product is designed to aid homebuyers with down payment assistance, with availability in select markets. Continue Reading New Click n’ Close Loan Program Aimed at Rural Markets
Mortgage Application Activity Up 7.1%
The refinance share of mortgage activity increased to 31.6% of total applications. Continue Reading Mortgage Application Activity Up 7.1%
Mortgage Rates Dip, But Still Close to 7%
The 30-year fixed-rate mortgage averaged 6.88% as of March 7, down from last week when it averaged 6.94%. Continue Reading Mortgage Rates Dip, But Still Close to 7%
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
Home Mortgage Lending Activity Sank During Q4 2023
The fourth quarter total was also a 16.5% decline from the same period in 2022. Continue Reading Home Mortgage Lending Activity Sank During Q4 2023
Mortgage Application Activity Down By 5.6%
U.S. home prices were up 6.5% year-over-year during the fourth quarter of 2023. Continue Reading Mortgage Application Activity Down By 5.6%
Mortgage Rates Creep Up to the 7% Level
The 30-year fixed-rate mortgage averaged 6.90% as of Feb. 22, up from last week when it averaged 6.77%. Continue Reading Mortgage Rates Creep Up to the 7% Level
FHA Launches New Loan Modification Option
Mortgage servicers may begin implementing Payment Supplement on May 1. Continue Reading FHA Launches New Loan Modification Option
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