Mortgage Industry News
Mortgage Application Activity Down by Nearly 4%
The FHA share of total applications decreased to 19.5% from 20.2% the week prior. Continue Reading Mortgage Application Activity Down by Nearly 4%
New Home Purchase Mortgage Applications Up 3.1% in November
The average loan size for new homes decreased from $381,404 in October to $378,063 in November. Continue Reading New Home Purchase Mortgage Applications Up 3.1% in November
Report: 3 Trump Cabinet Members Have 2 Mortgaged Properties with Both Claimed as Primary Residences
“This is just another hit piece from a left-wing dark money group that constantly attempts to smear President Trump’s incredible Cabinet members,” said a White House spokesperson. Continue Reading Report: 3 Trump Cabinet Members Have 2 Mortgaged Properties with Both Claimed as Primary Residences
Multifamily Mortgage Lending Up 17%
More than half (53%) of the active lenders made five or fewer multifamily loans over the course of the year. Continue Reading Multifamily Mortgage Lending Up 17%
Mortgage Rates Continue to Fall
“As rates continue to drop, the number of homeowners who have the opportunity to refinance is expanding,” said Sam Khater, Freddie Mac’s chief economist. Continue Reading Mortgage Rates Continue to Fall
CFPB Issues Guidance to Debt Collectors on Zombie Mortgages
CFPB Director Rohit Chopra said that “threatening to sue to collect on expired zombie mortgage debt is illegal.” Continue Reading CFPB Issues Guidance to Debt Collectors on Zombie Mortgages
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
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