Housing Wire

MARCH 20, 2023

It is often said that the Fed raises interest rates until something breaks. Many have already pointed to the failures of Silicon Valley Bank , Silvergate Bank , and Signature Bank as evidence that the Fed “finally broke something.” In 2021, mortgage originations hit a record high of $4.4 trillion in 2023.

Banks 418

Banks Mortgages Fixed-rate mortgage Loans 418

Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Equity Lending 493

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6

Equity 459

Equity Lending Fixed-rate mortgage Loans 459

Housing Wire

AUGUST 29, 2024

In the second quarter, purchase loans were the most common type of mortgage in the U.S., of all mortgages. Refis followed with 33.8%, and home-equity lending made up 17.7%. to about 546,000; and home equity line of credit (HELOC) increased 26.5% Banks and other lenders issued a total of 1.62 accounting for 48.5%

Mortgages 433

Mortgages Fixed-rate mortgage Lending Residential 433

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.”

Debt-to-income ratio 459

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

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

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 418

Equity Fixed-rate mortgage Principal Mortgages 418

Housing Wire

APRIL 14, 2022

.” The gulf between the average 30-year-fixed rate conforming mortgage and a 30-year jumbo, a product for wealthier borrowers, widened to 42 basis points, according to Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refinancings and additional data from the Mortgage Bankers Association (MBA).

Mortgages 448

Mortgages Fixed-rate mortgage Banks Renovation 448

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 397

Equity Fixed-rate mortgage Principal Loans 397

Housing Wire

JANUARY 10, 2022

The Federal Reserve has announced plans to gradually “taper” its supportive monetary policy: Net acquisitions of agency mortgage-backed securities are expected to cease by the end of March and the Federal Open Market Committee has signaled possibly three 25-basis point increases in the federal funds target by yearend 2022.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

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

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. Wells Fargo’s mortgage originations reached $7.8 billion in Q2 2023, down 77% year-over-year but up 18% from the prior quarter.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

OCTOBER 16, 2023

.” 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% on a standard 30-year fixed-rate mortgage. Not just mortgages, but servicing.

Banks 448

Banks Fixed-rate mortgage Lending Mortgages 448

Housing Wire

FEBRUARY 10, 2021

Freddie Mac appointed Pamela Perry as vice president of single-family equitable housing, and Amanda Nunnink as vice president of equity in multifamily housing. Before that, Nunnink held various production roles for banks and investment groups. Pamela Perry.

Fixed-rate mortgage 370

Fixed-rate mortgage Equity Investor Development 370

Housing Wire

MARCH 9, 2023

Interest rates on home loans, which were already ticking upward, jumped last week, and it’s adding affordability challenges to the market. Freddie Mac ‘s Primary Mortgage Market Survey (PMMS) showed the 30-year fixed-rate mortgage averaged 6.73% as of March 9, up eight basis points from last week’s 6.65%.

Mortgages 397

Mortgages Fixed-rate mortgage Land Loans 397

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. The firm specializes in asset-backed credit, whole loans and private equity. There likely will be 40 to 50 deals done this year.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Tapping that equity. ” Just a little less vanilla. .”

Mortgages 418

Mortgages Equity Loans Seller concession 418

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. Bank (53.3%

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

AUGUST 17, 2023

CrossCountry Mortgage , the country’s 11th-largest lender per HMDA, ranked 3,020 with an average three-year growth of 172%. The mortgage industry is still rightsizing following nearly two years of historically low rates. It’s a big improvement from the $1,972 loss per loan in Q1 2023. 5000 – 2023

Loan Officer 370

Loan Officer Mortgages Fixed-rate mortgage Loans 370

Housing Wire

AUGUST 7, 2023

While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers. is one of the few places in the world where you can get a fixed-rate mortgage amortized over 30 years. Fixed-rate mortgages provide stability and predictability.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio Lending 370

Housing Wire

JULY 26, 2023

The Federal Reserve (Fed) raised the federal funds rate 25 basis points to the 5.25 While the markets have already “priced in” this rate hike, which was widely expected, most investors are already wondering what it would take for the central bank to lift rates again later this year. research and consulting at TransUnion.

Fixed-rate mortgage 370

Fixed-rate mortgage Investor Mortgages Banks 370

Housing Wire

DECEMBER 29, 2023

“It finally seems like we are turning a corner and that’s good news after two years of the Fed’s negative perspective that we’ve heard,” Max Slyusarchuk, CEO of A&D Mortgage , said in an interview. Home equity is really a no-brainer today. I think somewhere in there, you would see a pretty good pickup. —

Mortgages 476

Mortgages Loan Officer Loans Equity 476

Marco Santarelli

APRIL 1, 2025

For the benchmark 30-year fixed-rate mortgage , we're looking at an average of 6.55%. Now, four basis points might sound small, but in the world of mortgages, every little bit counts. The 15-year fixed-rate mortgage has seen an even more significant drop, falling by eight basis points to an average of 5.83%.

Fixed-rate mortgage 88

Fixed-rate mortgage Mortgages Loans Equity 88

Housing Wire

DECEMBER 30, 2022

“What tends to happen is, whenever there’s a lot of recession talk, that’s not when you generally see brands rolling out new products,” Shant Banosian , EVP at Guaranteed Rate and one of Scotsman Guide ‘s top LOs, said. . “I The 30-year fixed rate mortgages are expected to average 6.3% in 2023, peaking to 6.5%

Loans 435

Loans Renovation Construction Mortgages 435

Marco Santarelli

DECEMBER 22, 2024

Mortgage refinance rates hold significant importance for homeowners who aim to lower their monthly payments or leverage their home equity for new financial opportunities. As of December 22, 2024, the average 30-year fixed refinance rate stands at 6.71% , down just 1 basis point from the previous day.

Mortgages 52

Mortgages Fixed-rate mortgage Equity Loans 52

HomeLight

JANUARY 18, 2023

If you’re like most homeowners, you’re eyeing the home equity market with caution – or flat-out worry. That means you’re probably concerned you’ll lose equity and are wondering how much value you might miss out on in the coming year. What is home equity? Home equity is the amount of your home’s value that belongs to you.

Equity 105

Equity Marketing Loans Mortgages 105

Marco Santarelli

MARCH 17, 2025

The rate you personally qualify for can vary based on factors like your credit score, down payment amount, the type of property you're buying, and even where you live. The Popular 30-Year Fixed-Rate Mortgage The 30-year fixed-rate mortgage is still the most common choice for homebuyers, and for good reason.

Mortgages 72

Mortgages Fixed-rate mortgage Principal Loans 72

Lighter Side of Real Estate

APRIL 6, 2022

Which means you’ve probably been reading or hearing about adjustable rate mortgages making a comeback. The 30-year fixed rate mortgage has been so historically low, they haven’t been all that necessary to consider. So your rate isn’t fixed for the life of the loan.

Mortgages 145

Mortgages Fixed-rate mortgage Banks Lending 145

Marco Santarelli

MARCH 20, 2025

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. 30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible.

Mortgages 52

Mortgages Debt-to-income ratio Principal VA loan 52

Marco Santarelli

DECEMBER 29, 2024

Generally, a down payment of 20% or more can help you avoid private mortgage insurance (PMI), further saving you money in the long term. Loan Amount: The size of the mortgage and how it compares to the property's value can also impact your rate.

Mortgages 52

Mortgages Fixed-rate mortgage Loans Closing costs 52

Realtor.com

MARCH 12, 2021

First find the difference between your current mortgage rate and the potential savings of a refinance offer. The rate for a refi will vary based on the particular homeowner. Lenders consider credit history, income and home equity when evaluating applications. I have an adjustable-rate mortgage.

Fixed-rate mortgage 87

Fixed-rate mortgage Mortgages Closing costs Equity 87

Realtor.com

APRIL 5, 2021

An ARM, also known as a variable-rate mortgage, is a loan that starts out at a fixed, predetermined interest rate that’s likely lower than what you would get with a comparable fixed-rate mortgage. In essence, you’ll be making mortgage payments, but you won’t be chipping away at your mortgage debt.

Loans 122

Loans Mortgages Principal Equity 122

Marco Santarelli

MARCH 27, 2025

Understanding How Mortgage Rates Function At its core, a mortgage interest rate is the cost you pay for the privilege of borrowing money from a lender. This cost is expressed as a percentage of the loan amount and can be structured in two primary ways: fixed-rate and adjustable-rate.

Mortgages 52

Mortgages Principal Fixed-rate mortgage VA loan 52

Marco Santarelli

AUGUST 9, 2024

How to get a low mortgage interest rate in August 2024 could be the key to turning your dream into reality. With mortgage rates recently hitting a 15-month low , it's a prime time for buyers to take action. Negotiate with Lenders Don't take the first mortgage rate you are offered as gospel.

Fixed-rate mortgage 98

Fixed-rate mortgage Mortgages Loans Equity 98

Realtor.com

DECEMBER 14, 2022

That’s why fixed-rate mortgages, the gold standard of home loans, have long been the most popular. These 15-, 20-, and 30-year mortgages aren’t exciting. And there are plenty out there: adjustable-rate mortgages, interest-only mortgages, 2-1 buydowns. So play them against one another.

Fixed-rate mortgage 102

Fixed-rate mortgage Mortgages Loans VA loan 102

Realty Biz

AUGUST 12, 2023

Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. In a mortgage agreement, the buyer borrows money from the lender (usually a bank) and agrees to pay it back with interest over a specified period. Principal : The amount of money you borrowed to buy the home.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Marco Santarelli

JUNE 27, 2024

For aspiring homeowners, the question of mortgage rates looms large. In June, Freddie Mac reported a welcome dip in the average 30-year fixed rate mortgage (FRM) to 6.86%, the lowest level in nearly three months. Here, we delve into the predictions of experts and unpack the factors influencing these rates.

Mortgages 97

Mortgages Fixed-rate mortgage Equity Banks 97