Mortgage Industry News
Mortgage Lending Changed. The Federal Home Loan Bank System Hasn’t Kept Up
Independent mortgage banks now originate a substantial share of American home loans but remain ineligible for Federal Home Loan Bank membership. Is a 94-year-old membership structure still right for today’s mortgage market? Continue Reading Mortgage Lending Changed. The Federal Home Loan Bank System Hasn’t Kept Up
Prosperity Home Mortgage Expands into Servicing
“Buying a home may be one transaction, but homeownership is a journey that lasts for years,” said Chris Kelly, president and CEO of HomeServices of America. “ Continue Reading Prosperity Home Mortgage Expands into Servicing
Mortgage Rates Down for Second Straight Week
The 30-year fixed-rate mortgage averaged 6.65% as of Aug. 20, down from last week when it averaged 6.67%. Continue Reading Mortgage Rates Down for Second Straight Week
New Home Purchase Mortgage Applications Down in July
The average loan size for new homes decreased from $375,218 in June to $374,438 in July. Continue Reading New Home Purchase Mortgage Applications Down in July
Mortgage Application Activity Holds Steady
The refinance share of mortgage activity increased to 41.9% of total applications from 40.7% in the previous week. Continue Reading Mortgage Application Activity Holds Steady
New Report Finds National Average for Mortgage Closing Costs Down by 3%
The greatest single-market shift during this period occurred in the District of Columbia, where closing costs dropped 21.1%. Continue Reading New Report Finds National Average for Mortgage Closing Costs Down by 3%
Calendar Anomaly Boosts Mortgage Delinquency Rate by 15 Basis Points
“While the headline increase in delinquencies may draw attention, the underlying performance picture is stable as delinquencies remain below January 2020 levels,” said ICE’s Andy Walden. Continue Reading Calendar Anomaly Boosts Mortgage Delinquency Rate by 15 Basis Points
Mortgage Rates Tick Up Slightly
The 30-year fixed-rate mortgage averaged 6.49% as of June 25, up from last week when it averaged 6.47%. Continue Reading Mortgage Rates Tick Up Slightly
Survey Finds High Anxiety Levels Among Canadians Facing Mortgage Renewals
The findings are based on an online survey of approximately 2,000 Canadians across all regions. Continue Reading Survey Finds High Anxiety Levels Among Canadians Facing Mortgage Renewals
Refinancing Action Sparks Uptick in Mortgage Application Activity
The FHA share of total applications increased to 17.9% from 17.5% the week prior. Continue Reading Refinancing Action Sparks Uptick in Mortgage Application Activity
HUD Updates 14 FHA Policies in Move to Improve Affordability
“Every unnecessary regulation comes with a cost, and too often homebuyers pay the price,” said HUD Secretary Scott Turner. Continue Reading HUD Updates 14 FHA Policies in Move to Improve Affordability
Q1 Commercial/Multifamily Mortgage Debt Increased by $26.3 Billion
Multifamily mortgage debt alone increased $23 billion (1.0%) to $2.32 trillion. Continue Reading Q1 Commercial/Multifamily Mortgage Debt Increased by $26.3 Billion
Mortgage Rates Trend Lower
The 30-year fixed-rate mortgage averaged 6.47% as of June 18, down from last week when it averaged 6.52%. Continue Reading Mortgage Rates Trend Lower
Mortgage Application Activity Down by Nearly 4%
The FHA share of total applications has a slight uptick to 17.5% from 17.4% the week prior. Continue Reading Mortgage Application Activity Down by Nearly 4%
Mortgage Rates Are Back on the Rise
The 30-year fixed-rate mortgage averaged 6.52% as of June 11. Continue Reading Mortgage Rates Are Back on the Rise
