Housing Wire

AUGUST 29, 2024

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 Banks and other lenders issued a total of 1.62 million residential mortgages in Q2 2024, up from 1.31

Mortgages 433

Mortgages Fixed-rate mortgage Lending Residential 433

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% by the end of 2024 from the current federal funds rate range of 5.25%-5.5%.

Fixed-rate mortgage 532

Fixed-rate mortgage Mortgages New Construction Construction 532

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Renovation 397

Renovation Fixed-rate mortgage Equity Finance 397

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

FEBRUARY 10, 2021

She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. Before that, Nunnink held various production roles for banks and investment groups. Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development.

Equity 529

Equity Fixed-rate mortgage Investor Development 529

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

SEPTEMBER 29, 2023

Higher down payments and surging monthly mortgage payments are throttling borrowers’ personal finances, and prospective buyers are turning to family members to gift funds or sign up to be non-occupant co-borrowers. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%.

Loan Officer 435

Loan Officer Mortgages Fixed-rate mortgage Loans 435

Housing Wire

APRIL 17, 2024

Mortgage rates hold major power in the housing industry; most importantly, high rates exacerbate the current affordability crisis by walloping the buying power of would-be buyers and discouraging some would-be sellers – those with low, fixed-rate mortgages – from listing their homes, a drain on available inventories.

Mortgages 493

Mortgages Fixed-rate mortgage Banks Residential 493

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

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.” in 2021.

Debt-to-income ratio 459

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

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream. Mortgage , and/or Closing Cost Credit.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 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%. 16 in the most recent rankings.

Equity 488

Equity Lending Banks Loans 488

Housing Wire

JANUARY 21, 2022

Additionally, the report mentioned that the average 30-year fixed-rate mortgage is expected to be 3.6% Just this week , the average 30-year-fixed rate mortgage climbed to 3.56%, rising from 3.45% the week prior, Freddie’s PPMS Mortgage Survey found. trillion in 2021 to $1.2 in 2022 and 3.9%

Fixed-rate mortgage 482

Fixed-rate mortgage Mortgages Lending Sales 482

Housing Wire

AUGUST 11, 2022

Its earnings report shows that it added a new $340 million warehouse financing facility during the second quarter and since the end of the quarter it increased the capacity of an existing warehouse line by $260 million — to a total of $600 million. billion of unused warehouse capacity to support go-forward mortgage banking production.”.

Mortgages 397

Mortgages Residential Loans Lending 397

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

OCTOBER 8, 2021

Despite average 30-year mortgage rates that have remained below 3% for most of 2021, the rapid home price increases are eroding affordability for average wage earners. Even with an average 30-year fixed rate mortgage of 2.84% in August , the 14.9% On average, the price of the renovated properties was 3.5

Renovation 543

Renovation Marketing Fixed-rate mortgage Mortgages 543

Housing Wire

APRIL 7, 2022

“The increase in mortgage rates has softened purchase activity such that the monthly payment for those looking to buy a home has risen by at least 20% from a year ago.”. Presented by: Finance of America. The latest MBA survey this week found that the landscape is reducing borrowers’ demand for mortgages. mortgage points.)

Mortgages 397

Mortgages Fixed-rate mortgage Loans Residential 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

The senior debt offering in the securitization was oversubscribed, with participation across mutual funds, credit funds, banks and asset managers,” Unlock’s announcement of the deal states. The interest rate for a 30-year, fixed-rate mortgage averaged 6.47% on Tuesday, Sept. 21, according to Mortgage News Daily.

Equity 397

Equity Marketing Fixed-rate mortgage Finance 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 About 9.1%

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

AUGUST 5, 2024

Mortgage spreads tightened at the same time, taking the Fannie Mae current coupon to 5.05%. “If long-rates remains stable, this suggests that the 30-yr Freddie Mac fixed rate mortgage should fall from 6.73% last Thursday to ~6.3% The market also sharply increased expectations for Fed rates, pricing in ~4.6

Mortgages 501

Mortgages Marketing Fixed-rate mortgage Loans 501

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. The drawback to having a uniform secondary mortgage market is that there isn’t much differentiation in the market. Fixed-rate mortgages provide stability and predictability.

Closing 370

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

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

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

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. year over year.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

JANUARY 25, 2022

The Community Home Lenders Association (CHLA), which represents small and mid-sized IMBs, just sent a letter to the Federal Housing Finance Authority (FHFA) , asking for tweaks to FHFA’s recently announced fee hikes on second home and high balance Fannie Mae and Freddie Mac loans. Are these proponents referring to banks?

Marketing 370

Marketing Fixed-rate mortgage Banks Loans 370

Housing Wire

APRIL 14, 2022

“It doesn’t make sense to start raising interest rates [to fight inflation] without running off their MBS portfolio,” said Laurie Goodman, vice president for housing finance policy and the founder of the Housing Finance Policy Center at the Urban Institute. by the end of the year. in 2009 to 1.9%

Marketing 435

Marketing Purchase and sale agreement Investor Banks 435

Housing Wire

SEPTEMBER 9, 2022

The nonagency share of the market has been rising slowly since then, reaching 4.32% in 2021, according to recent analysis by the Urban Institute ’s Housing Finance Policy Center. In August 2021, the 30-year fixed-rate mortgage rate stood at approximately 2.75%,” a recent KBRA report on the nonagency RMBS market states.

Marketing 435

Marketing Fixed-rate mortgage Bankruptcy Mortgages 435

Housing Wire

FEBRUARY 10, 2021

She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. Before that, Nunnink held various production roles for banks and investment groups. Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development.

Fixed-rate mortgage 370

Fixed-rate mortgage Equity Investor Development 370

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. billion, according to data from Inside Mortgage Finance. homeowners with mortgages have an interest rate below 6%, according to Redfin.

Loan Officer 370

Loan Officer Marketing Pre-approval Fixed-rate mortgage 370

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

SEPTEMBER 20, 2023

Most Fed officials last June had penciled in two more rate rises this year, one in July and one more in the fall. Most investors are already wondering what it would take for the central bank to lift rates again later this year. range on Wednesday morning, according to interest rate traders. However, only 70.9%

Fixed-rate mortgage 476

Fixed-rate mortgage Mortgages Investor Finance 476

Housing Wire

APRIL 9, 2024

Regarding Termine, the Hunterbrook Media spokesperson said the lawyer exposed the Paul Manafort loan scandal , his prior reporting led to multiple criminal convictions, including that of a bank CEO, and he didn’t work for Rocket. “He He worked for an independent mortgage broker that actually shopped between options.

Fixed-rate mortgage 468

Fixed-rate mortgage Loans Mortgages Loan Officer 468

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. mortgage market was ripe for refinancing, but today closer to 10%. . He points out that in 2021, 85% of the U.S.

Mortgages 370

Mortgages Marketing Banks Loans 370

Housing Wire

MAY 5, 2022

The leading loan originators represented in the reference loan pool on a percentage basis for this fourth STACR transaction, according to KBRA’s ratings report on the deal, are Rocket Mortgage , 9.6%; United Wholesale Mortgage (UWM), 7.2%; J.P. Morgan Chase Bank , 6.9%; and Wells Fargo , 4.8%. a week earlier.

Principal 370

Principal Fixed-rate mortgage Loans Residential 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%.

Mortgages 397

Mortgages Fixed-rate mortgage Loans Closing costs 397

Housing Wire

JUNE 29, 2022

Supporting the ugly outlook for the housing market is the release today, June 29, of the quarterly CF O Survey , conducted jointly by Duke University’s Fuqua School of Business and the Federal Reserve Banks of Richmond and Atlanta. The survey of more than 300 U.S. economy continuing to decline. compared with 54.8 in the prior quarter and 60.3

Marketing 448

Marketing Fixed-rate mortgage Mortgages Sales 448