Mortgage Industry News
reAlpha Mortgage Expands into Nevada Marketplace
With the new Nevada operations, reAlpha Mortgage is now licensed in 31 states. Continue Reading reAlpha Mortgage Expands into Nevada Marketplace
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
Gen Z Accounts for 12% of VA Purchase Loan Market
Gen Z homebuyers using VA loans are most concentrated near large military communities like San Antonio, Virginia Beach, and Colorado Springs. Continue Reading Gen Z Accounts for 12% of VA Purchase Loan Market
Mortgage Application Activity Down by 2.6%
The refinance share of mortgage activity increased to 37.3% of total applications from 36.7% in the previous week. Continue Reading Mortgage Application Activity Down by 2.6%
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
Mortgage Delinquencies at Record Low
Every state recorded lower delinquency levels in March, ranging from 11.9% in Washington to 21.5% in Vermont. Continue Reading Mortgage Delinquencies at Record Low
Redfin: One-Third of 25-Year-Olds are Homeowners
The typical mortgage rate for homebuyers under 25 using a conventional loan was 3.3% in 2020 and 3.1% in 2021. Continue Reading Redfin: One-Third of 25-Year-Olds are Homeowners
Mortgage Rates on the Rise Again
“For the first time in over a month, mortgage rates moved up due to shifting market expectations,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates on the Rise Again
Report: IMBs Outpace Banks for Lending in LMI and Minority Areas
CRA was implemented in 1977 in response to decades of redlining practices by banks and thrifts. Continue Reading Report: IMBs Outpace Banks for Lending in LMI and Minority Areas
FDIC Auctions Mortgage-Backed Bonds from Failed Banks
Another auction is planned for next week, with the FDIC seeking to sell about $660 million of lower-rated bonds. Continue Reading FDIC Auctions Mortgage-Backed Bonds from Failed Banks
Guild Mortgage Adds 8 California Branches From Fairway Independent Mortgage
John Lowe, formerly senior vice president and division manager at Fairway, has been named district manager of the new district. Continue Reading Guild Mortgage Adds 8 California Branches From Fairway Independent Mortgage
Foreclosure Activity Up 22% Year-Over-Year
Nationwide, one in every 1,459 housing units had a foreclosure filing in the first quarter. Continue Reading Foreclosure Activity Up 22% Year-Over-Year
MBA: Mortgage Application Activity Down 8.8%
The refinance share of mortgage activity inched up to 27.6%. Continue Reading MBA: Mortgage Application Activity Down 8.8%
New Home Purchase Mortgage Applications Up, Forbearance Level Down
“Low for-sale inventory continues to constrain sales, along with mortgage rates that remain above 6%,” said MBA’s Joel Kan. Continue Reading New Home Purchase Mortgage Applications Up, Forbearance Level Down
Rocket Mortgage Canada in New Pact with RESAAS Services
Rocket Mortgage Canada and RESAAS will share the revenue generated via the partnership from all new mortgages, mortgage renewals and refinances. Continue Reading Rocket Mortgage Canada in New Pact with RESAAS Services
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