Housing Wire

FEBRUARY 10, 2022

The average 30-year-fixed rate mortgage climbed to 3.69% for the week ending Feb. It’s the highest level since the start of the pandemic, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.73%.

Fixed-rate mortgage 435

Fixed-rate mortgage Mortgages Loans Banks 435

Housing Wire

FEBRUARY 3, 2022

The average 30-year-fixed rate mortgage remained flat for the third consecutive week at 3.55% for the week ending Feb. 3, reflecting the impacts of the Omicron variant in the economy, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.73%.

Fixed-rate mortgage 418

Fixed-rate mortgage Mortgages Residential Banks 418

Housing Wire

SEPTEMBER 27, 2023

. “The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” CFPB Director Rohit Chopra said in a statement. “These trends are likely to continue given further increases in interest rates in 2023.” million in 2022.

Debt-to-income ratio 459

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 459

Housing Wire

AUGUST 29, 2024

In the second quarter alone, lenders issued close to $533 billion worth of residential mortgages, up 27.6% from a high point hit in 2021 when the average 30-year fixed-rate mortgage fell to around 2.65%. “We Banks and other lenders issued a total of 1.62 million residential mortgages in Q2 2024, up from 1.31

Mortgages 428

Mortgages Fixed-rate mortgage Lending Residential 428

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 459

Loans Mortgages Banks Fixed-rate mortgage 459

Housing Wire

DECEMBER 13, 2024

Rising interest rates largely drove consumers into higher monthly mortgage payments, with a conventional conforming 30-year fixed-rate mortgage increasing from $2,045 in December 2022 to $2,295 a year later. Black and Hispanic mortgage borrowers had sharper increases than their white and Asian counterparts.

Debt-to-income ratio 370

Debt-to-income ratio Mortgages Fixed-rate mortgage Loans 370

Housing Wire

JANUARY 25, 2024

Mortgage rates stabilized in the past week but remain close to the narrow range observed since the start of this month. The 30-year fixed-rate mortgage averaged 6.69% as of Jan. 25, an increase from last week’s figure of 6.60%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 448

Mortgages Fixed-rate mortgage MLS Banks 448

Housing Wire

MAY 3, 2023

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. For months, the central bank said it needed to make additional changes before it took its foot off the gas. It represents a shift or sorts.

Banks 397

Banks Fixed-rate mortgage Loan Officer Mortgages 397

Housing Wire

APRIL 9, 2024

O n April 2, Hunterbrook Media reported that over 8,600 loan officers at independent brokerages sent UWM more than 99% of their mortgages in 2023, more than double the number of partners sending 99% of their loans to the lender in 2020. He worked for an independent mortgage broker that actually shopped between options.

Fixed-rate mortgage 467

Fixed-rate mortgage Loans Mortgages Loan Officer 467

Housing Wire

AUGUST 10, 2023

Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream. Mortgage , and/or Closing Cost Credit. Home prices are on the rise again, mortgage rates are over 7% and the lack of existing homes for sale continues to put pressure on first-time homebuyers.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. Investors are concerned that the central bank will continue raising the funds rate, pushing borrowing costs even higher. What to expect with the Fed ?

Mortgages 370

Mortgages Fixed-rate mortgage Banks Investor 370

Housing Wire

JUNE 16, 2022

The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall. mortgage industry to fund $4.1 trillion in 2022 and $2.3

Marketing 448

Marketing Fixed-rate mortgage Loan Officer Pre-approval 448

Housing Wire

OCTOBER 26, 2023

According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. Spector said banks are stepping back from the correspondent channel amid expectations of increasing capital requirements through the Basel III rules. In this channel, the company reached $23.9

Fixed-rate mortgage 448

Fixed-rate mortgage Principal Banks Loans 448

Housing Wire

AUGUST 5, 2024

EST. “ Mortgage pricing should be lower today, but the close of today with the 10-year yield is key because short term bonds are very overbought.” Mortgage spreads tightened at the same time, taking the Fannie Mae current coupon to 5.05%. The market also sharply increased expectations for Fed rates, pricing in ~4.6

Mortgages 501

Mortgages Marketing Fixed-rate mortgage Loans 501

Housing Wire

OCTOBER 16, 2023

I close by reviewing what lies ahead – the policies we’re shaping, and the progress we hope to make,” Broeksmit said. ” With that, Broeksmit rattled off a number of grievances against foes the Beltway. Mortgage rates On the day Broeksmit addressed the crowd in Philadelphia, mortgage rates were north of 7.7%

Banks 448

Banks Fixed-rate mortgage Lending Mortgages 448

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. Residential Lending at TD Bank.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

Housing Wire

MARCH 14, 2023

Consumer prices climbed at a slower pace in February, keeping alive the hope that the Federal Reserve may pause the federal funds rate hikes in its meeting next week following the Silicon Valley Bank and Signature Bank failures. A liquidity crisis hit American banks amid a deposit run. and shelter had a 0.8%

Banks 370

Banks Fixed-rate mortgage MLS Lending 370

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. HELOCs have easily been the product with the largest increase in [loan]-trading volumes.”

Equity 488

Equity Lending Loans Banks 488

Housing Wire

MAY 3, 2023

Mohtashami anticipates that the Fed will push a pause on the interest rate hike in the next meeting, as the central bank is counting on credit getting tighter to create job recession. Federal regulators also seized First Republic Bank and sold it to JPMorgan Chase Bank earlier this week.

Mortgages 448

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 448

Housing Wire

FEBRUARY 16, 2023

economy has remained resilient despite the Federal Reserve ‘s tightening monetary policy led to a substantial increase in mortgage rates last week. ” In January, inflation continued to climb well above the Fed’s target, at an annual rate of 6.4%. A year ago at this time, the same rates were at 3.92%.

Mortgages 435

Mortgages Fixed-rate mortgage Banks As-is 435

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. In many cases, that product may still be a fixed-rate mortgage. Most potential borrowers should familiarize themselves with how these products work.

Loans 434

Loans Fixed-rate mortgage Lending Loan Officer 434

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. .

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

Equity 397

Equity Marketing Fixed-rate mortgage Finance 397

Housing Wire

MARCH 3, 2022

In fact, this week alone, Carnes said MIAC expects to close two MSR deals with a combined value exceeding $6 billion. The third MSR deal, also being offered by an undisclosed seller — an independent mortgage banker — involves both Fannie Mae and Freddie Mac mortgages with a combined value of $640 million.

Marketing 370

Marketing Fixed-rate mortgage Mortgages Loans 370

Housing Wire

JANUARY 14, 2021

With no end in sight to record low mortgage rates and the increased loan volume, lenders must streamline workflows and accelerate time to close. Evolving from traditional closings to hybrid closings to full eClosings can help lenders process more loans at a faster pace without overwhelming their resources.

Mortgages 497

Mortgages Loans Banks Closing 497

Housing Wire

NOVEMBER 16, 2022

The temporarily lower rate is made possible by a lump sum that is deposited into a buydown account. With the seller-paid version, seller concessions, which are closing costs the seller agrees to pay, are deposited as a lump sum into the buydown account. Presented by: Flagstar.

Seller concession 397

Seller concession Mortgages Fixed-rate mortgage Loans 397

Housing Wire

JUNE 15, 2022

There was too much 30-year [fixed-rate mortgage paper] out there in the market for a while because it was just so cheap, and it was the right thing for the consumer,” said Matt Tomiak, senior vice president of nonagency originations at Bayview Asset Management. Presented by: ICE Mortgage Technology. Learn more here!

Mortgages 397

Mortgages Fixed-rate mortgage Loans Investor 397

Housing Wire

OCTOBER 27, 2022

Borrowers are now seeking options to reduce their initial mortgage payments while hoping that rates will decline enough to warrant a refinance in the next few years. The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage rose 14 basis points from last week to 7.08%, accelerating its upward trajectory.

Mortgages 397

Mortgages Fixed-rate mortgage Loan Officer Seller concession 397

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates have nearly doubled to around 6.5% Following the Fed’s decision to raise interest rates by an additional 75 basis points on Wednesday, the central bank said it will hike rates as high as 4.6% Before the Federal Reserve raised the federal funds rate by 0.75 According to the NAR, there were 1.28

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week.

Mortgages 370

Mortgages Loan Officer Banks Lending 370

Housing Wire

APRIL 27, 2023

Freddie Mac’s Primary Mortgage Market Survey shows the 30-year fixed mortgage rate increased to 6.43% as of April 27, up four basis points from last week and 133 basis points from this time last year, when rates averaged 5.10%. On a hypothetical $400,000 loan, the borrowers would save $3,000 in closing costs.

Mortgages 397

Mortgages Fixed-rate mortgage Loans Closing costs 397

Housing Wire

OCTOBER 22, 2021

Karen Mayfield: There may not be just one article but part of my favorite thing about HW is how it’s a true advocate for the industry — from covering market moves to closing the housing gap and the latest in tech. Having an online portal or sharing the advantages of a fixed rate mortgage on your site is helpful to customers.

Loan Officer 396

Loan Officer Fixed-rate mortgage Loans Industrial 396

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. RTC), closed 747 S&Ls with assets of more than $407 billion. . mortgage market was ripe for refinancing, but today closer to 10%.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

MARCH 29, 2023

A HousingWire analysis of bond-rating report data and information provided by industry experts shows that between 2019 and March 28 of this year, there were at least 17 private-label securitization deals involving HELOCs and/or closed-end second-lien (CES) home-equity loans and separately shared-equity contracts. to 2 points.”

Equity 397

Equity Lending Loans Banks 397

Housing Wire

OCTOBER 9, 2024

This means the dynamic of interactions between the mortgage and insurance industries will need to evolve into something new, Stork said. Back when I was a loan officer, I couldn’t tell you how many times I’d get to a few days before closing, and my borrower would ask about what ‘HOI’ was.” That’s no longer the case. “I

Mortgages 459

Mortgages Fixed-rate mortgage Industrial Construction 459

Housing Wire

APRIL 14, 2022

Long-term, however, they agree the market will work through the changes and likely wind up better off, assuming the Fed’s so-called quantitative tightening strategy manages to tame runaway inflation and chases off its close cousin, a recession. “It All in all, the impact is likely to be the 30-year fixed-rate mortgage reaching 5.2

Marketing 435

Marketing Purchase and sale agreement Investor Banks 435

Housing Wire

APRIL 5, 2022

Lenders offer borrowers to lock the mortgage rates for a period between the offer and the closing date, which vary according to their policies. However, during periods of instability, locking the rate for a long period puts downward pressure on lenders’ margins, hurting earnings.

Marketing 435

Marketing Investor Loans Banks 435