Mortgage Industry News
PHH Mortgage Debuts FlexIQ Suite of Non-QM Products
FlexIQ will replace PHH’s previously offered Gold/Silver/Bronze non-QM programs. Continue Reading PHH Mortgage Debuts FlexIQ Suite of Non-QM Products
Non-QM Lender Angel Oak Mortgage Solutions Debuts 5- and 7-Year Adjustable-Rate Mortgages
“This launch underscores our commitment to supporting the non-QM ecosystem,” said Tom Hutchens, president of Angel Oak Mortgage Solutions. Continue Reading Non-QM Lender Angel Oak Mortgage Solutions Debuts 5- and 7-Year Adjustable-Rate Mortgages
Mortgage Rates on the Rise Again
The 30-year fixed-rate mortgage averaged 6.75% as of July 17. Continue Reading Mortgage Rates on the Rise Again
Mortgage Applications on New Home Purchases Up 8.5% from Last Year
The average loan size for new homes decreased from $379,209 in May to $376,077 in June. Continue Reading Mortgage Applications on New Home Purchases Up 8.5% from Last Year
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
Wells Fargo Launches Down Payment Grant Program
The grants are being allocated under the company’s Special Purpose Credit Program. Continue Reading Wells Fargo Launches Down Payment Grant Program
Declines Recorded in Foreclosure Activity and Mortgage Delinquencies
“Despite low delinquency rates, there are early signs of possible consumer credit stress,” said MBA’s Marina Walsh. Continue Reading Declines Recorded in Foreclosure Activity and Mortgage Delinquencies
Mortgage Rates Rise For Third Straight Week
The 30-year fixed-rate mortgage averaged 6.96% as of Aug. 10, up from last week when it averaged 6.90%. Continue Reading Mortgage Rates Rise For Third Straight Week
MBA: Mortgage Application Volume Down 3.1%
The Refinance Index fell by 4% from the previous week and was 37% lower than the same week one year ago. Continue Reading MBA: Mortgage Application Volume Down 3.1%
Lower Mortgage Delinquency Rates on Hurricane-Impacted Homes with Modern Building Codes
“Modern building codes provide stability when weather-related disasters occur,” said CoreLogic’s Tanya Havlicek. Continue Reading Lower Mortgage Delinquency Rates on Hurricane-Impacted Homes with Modern Building Codes
Mortgage Credit Availability at 10-Year Low
MBA’s Joel Kan said the decline came as “lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders.” Continue Reading Mortgage Credit Availability at 10-Year Low
Q2 Market Share of FHA Loans at 14%
The second quarter’s percentage was the largest since the first quarter of 2021. Continue Reading Q2 Market Share of FHA Loans at 14%
Average Homebuyer’s Monthly Mortgage Payment Up 19% From Last Year
Pending home sales were down 14.4% year-over-year, with declines in all but two of the metros tracked by Redfin. Continue Reading Average Homebuyer’s Monthly Mortgage Payment Up 19% From Last Year
Mortgage Rates Inch Closer to the 7% Mark
Freddie Mac’s Sam Khater attributed the rising rates to “upbeat economic data and the U.S. government credit rating downgrade.” Continue Reading Mortgage Rates Inch Closer to the 7% Mark
Mortgage Application Activity Slows Again
The refinance share of mortgage activity inched up to 28.9% of total applications from 28.7% in the previous week. Continue Reading Mortgage Application Activity Slows Again
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