Mortgage Industry News
Mortgage Application Activity Remains Flat as Credit Availability Increases
The FHA share of total applications increased to 18.4% from 17.8% the week prior. Continue Reading Mortgage Application Activity Remains Flat as Credit Availability Increases
Mortgage Rates Inch Up for Third Straight Week
The 30-year fixed-rate mortgage averaged 6.11% as of Feb. 5. Continue Reading Mortgage Rates Inch Up for Third Straight Week
A Phil Hall Op-Ed: Trump’s Terrible 50-Year Mortgage Idea
Creating a 50-year mortgage with the goal of making housing more affordable is the equivalent of sending shipments of dinnerware into a famine-stricken region. Continue Reading A Phil Hall Op-Ed: Trump’s Terrible 50-Year Mortgage Idea
Trump Floats 50-Year Mortgage Proposal, But Many Conservatives Disapprove
FHFA Director Bill Pulte called the idea a “game changer.” Continue Reading Trump Floats 50-Year Mortgage Proposal, But Many Conservatives Disapprove
Mortgage Credit Availability at 3-Year High
“Credit availability in October rose to its highest level since 2022 as investors broadened their loan offerings over the month,” said MBA’s Joel Kan Continue Reading Mortgage Credit Availability at 3-Year High
Mortgage Rates Continue to Drop
The 30-year fixed-rate mortgage is now averaging 7.29%, down from last week when it averaged 7.44%. Continue Reading Mortgage Rates Continue to Drop
Tunnel to Towers Launches Fifth Annual Season of Hope Campaign
The foundation is planning to deliver more than 200 mortgage-free homes to families across its programs. Continue Reading Tunnel to Towers Launches Fifth Annual Season of Hope Campaign
Mortgage Application Activity at Highest Level in Six Weeks
The refinance share of mortgage activity increased to 32.4% of total applications from 31.9% in the previous week. Continue Reading Mortgage Application Activity at Highest Level in Six Weeks
NY Fed: Mortgage Rejection Rates Down Year-Over-Year
The average rejection rate of mortgage applications decreased by 2.5 percentage points to 12.1% in 2023, remaining above the 2019 rate of 10.2%. Continue Reading NY Fed: Mortgage Rejection Rates Down Year-Over-Year
New Home Purchase Applications Up Nearly 40% in October
The average loan size for new homes decreased from $397,550 in September to $390,225 in October. Continue Reading New Home Purchase Applications Up Nearly 40% in October
Mortgage Rates Drop for Third Straight Week
The 30-year fixed-rate mortgage averaged 7.44% as of Nov. 16, down from last week when it averaged 7.5%. Continue Reading Mortgage Rates Drop for Third Straight Week
Utah Leads the Nation in Home Improvement Loans
The overall average loan amount for Utah’s home improvement loans is $117,835. Continue Reading Utah Leads the Nation in Home Improvement Loans
MBA: More People Seeking Out Mortgages
“Both purchase and refinance applications increased to the highest weekly pace in five weeks,” said MBA’s Joel Kan. Continue Reading MBA: More People Seeking Out Mortgages
FHFA Sets 2024 Multifamily Loan Purchase Caps at $70 Billion Per GSE
Mortgage Bankers Association President and CEO Bob Broeksmit welcomed the announcement. Continue Reading FHFA Sets 2024 Multifamily Loan Purchase Caps at $70 Billion Per GSE
FHA Increases Allowable Fees for Inspections of Vacant Single Family Homes
The inspections are used in a servicer’s preservation and protection of property. Continue Reading FHA Increases Allowable Fees for Inspections of Vacant Single Family Homes
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