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 420

Banks Mortgages Fixed-rate mortgage Loans 420

Housing Wire

AUGUST 15, 2024

There are many government program offerings designed to support low-income borrowers and underserved communities available through banks and credit unions, including: Federal Housing Administration (FHA): FHA provides mortgage insurance on loans made by FHA-approved lenders. This insurance protects lenders against losses.

Industrial 477

Industrial Fixed-rate mortgage Banks Loans 477

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. But for some borrowers, a less traditional loan type could make the most financial sense.

Loans 436

Loans Fixed-rate mortgage Lending Loan Officer 436

Housing Wire

MARCH 24, 2022

And there’s good reason to believe mortgage rates will be in the 5% range before too long. According to data from Freddie Mac ‘s PMMS survey, mortgage rates on the traditional 30-year fixed-rate mortgage jumped 26 basis points to 4.42% this week, with increases across all loan types.

Fixed-rate mortgage 489

Fixed-rate mortgage Mortgages Banks Loans 489

Housing Wire

AUGUST 29, 2024

. “The mortgage industry got one of its biggest boosts in years during the second quarter, supported by a combination of the usual Springtime homebuyer demand coupled with more attractive mortgage rates,” said Rob Barber, CEO at ATTOM. of all mortgages. Purchase loan activity jumped 32.7% from Q2 2023.

Mortgages 430

Mortgages Fixed-rate mortgage Lending Residential 430

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

MAY 3, 2023

The MBA survey shows the average interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) decreased to 6.50% last week from 6.55% the prior week. Rates on jumbo loans (greater than $726,200) decreased to 6.37% from 6.40% on a weekly basis.

Mortgages 420

Mortgages Fixed-rate mortgage Banks Lending 420

Housing Wire

OCTOBER 12, 2023

To that end, the CHLA, NAR and ICBA urged that the Federal Reserve shift its policy to maintain its stock of mortgage-backed securities (MBS) and suspend runoff until liquidity and the spread between the 30-year fixed rate mortgages and 10-year Treasury stabilizes.

Fixed-rate mortgage 542

Fixed-rate mortgage Mortgages Industrial Lending 542

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

AUGUST 5, 2024

. “ 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

SEPTEMBER 30, 2021

Mortgage rates had been roughly flat for seven weeks, and this is the first time it rose above 3% since June. Sam Khater, Freddie Mac’s chief economist, said in a statement that rates rose across all loan types, in conjunction with the 10-year U.S. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.88%.

Fixed-rate mortgage 505

Fixed-rate mortgage Mortgages Banks Loans 505

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. In the first quarter of 2024, the big banks showed a challenging reality for originations. The index accelerated from February, when it was up 3.2%

Mortgages 469

Mortgages Banks Fixed-rate mortgage Lending 469

Housing Wire

NOVEMBER 16, 2022

Mortgage demand rose as rates dropped following the October slowdown in inflation growth numbers. However, while purchase mortgage applications increased across all loan types, refinance activity remained depressed. The market composite index, a measure of mortgage loan application volume, increased 2.7%

Mortgages 545

Mortgages Fixed-rate mortgage Loans Residential 545

Housing Wire

OCTOBER 19, 2022

Mortgage demand continued its downward trend last week, reaching the lowest level in 25 years, according to the latest survey from the Mortgage Bankers Association (MBA). Mortgage applications are now into their fourth month of declines, dropping to the lowest level since 1997.”. But another index measures rates even higher.

Fixed-rate mortgage 420

Fixed-rate mortgage Mortgages Banks Loans 420

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

Loan Officer 436

Loan Officer Mortgages Fixed-rate mortgage Loans 436

Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. And because their income didn’t keep up, lenders’ denials for a home loan jumped last year, according to a Consumer Financial Protection Bureau (CFPB) report released Wednesday.

Debt-to-income ratio 460

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 460

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%. Mortgage applications decreased 8.1%

Fixed-rate mortgage 436

Fixed-rate mortgage Mortgages Loans Banks 436

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

JANUARY 27, 2022

The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. A year ago at this time, it averaged 2.20%.

Fixed-rate mortgage 483

Fixed-rate mortgage Mortgages Banks Loans 483

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8%

Mortgages 398

Mortgages Marketing Fixed-rate mortgage Loans 398

Housing Wire

FEBRUARY 1, 2024

Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 488

Mortgages Fixed-rate mortgage MLS Staging 488

Housing Wire

DECEMBER 16, 2021

The average 30-year-fixed rate mortgage increased to 3.12% during the week ending Dec. 16, up from 3.10% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.67%. A year ago, at this time, it averaged 2.21%.

Fixed-rate mortgage 516

Fixed-rate mortgage Mortgages Lending Banks 516

Housing Wire

SEPTEMBER 16, 2021

According to Freddie Mac, the 30-year-fixed-rate mortgage was down slightly from last week’s 2.88% (with an average of 0.7 The 15-year-fixed-rate mortgage averaged 2.12% last week, a slight decline from the prior week’s 2.19%. A year ago, the average 15-year-fixed-rate mortgage was 2.35%.

Fixed-rate mortgage 498

Fixed-rate mortgage Mortgages Lending Loans 498

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.

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

AUGUST 26, 2021

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.91%.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Loans Construction 493

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options. In response, the company said its average rate for the $97.6

Fixed-rate mortgage 469

Fixed-rate mortgage Loans Mortgages Loan Officer 469

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 420

Fixed-rate mortgage Mortgages Residential Banks 420

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

VA loan 436

VA loan FHA loan Fixed-rate mortgage Banks 436

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 450

Mortgages Fixed-rate mortgage MLS Banks 450

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 398

Renovation Fixed-rate mortgage Equity Finance 398

Housing Wire

AUGUST 17, 2023

The top mortgage lender on the Inc. 5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. Founded in 2019, the Virginia-based lender saw a 2,230% three-year growth rate. Zap Mortgage (no.294) Trius Lending Partners (no.678), 678), InstaLend (no.769)

Loan Officer 370

Loan Officer Mortgages Fixed-rate mortgage Loans 370

Housing Wire

FEBRUARY 9, 2022

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, mortgage rates continued to climb “as the Federal Reserve and other key global central banks responded to growing inflationary pressures and signaled that they will start to remove accommodative policies.”. the previous week.

Fixed-rate mortgage 398

Fixed-rate mortgage Loans Mortgages Banks 398

Housing Wire

MARCH 17, 2022

As the Federal Reserve raised short-term rates for the first time in years, mortgage rates climbed 31 basis points to 4.16%, according to data from Freddie Mac ‘s PMMS survey. The 30-year fixed-rate mortgage exceeded four percent for the first time since May of 2019,” said Sam Khater, Freddie Mac’s chief economist.

Fixed-rate mortgage 461

Fixed-rate mortgage Mortgages Technology Banks 461

Housing Wire

OCTOBER 7, 2021

“Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”. The previous week, the average 30-year-fixed mortgage rate rose 13 basis points to 3.01%. Treasury bonds and mortgage-backed securities.

Mortgages 501

Mortgages Fixed-rate mortgage Banks Development 501

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans. Ginnie Mae is wholly owned by the federal government.

Closing 370

Closing Fixed-rate mortgage Debt-to-income ratio 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 Banks Loans 488

Housing Wire

NOVEMBER 4, 2021

The average 30-year-fixed rate mortgage dropped to 3.09 % during the week ending Nov. 4, down from 3.14% the week prior , according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.78 %. A year ago at this time, it averaged 2.32%.

Fixed-rate mortgage 469

Fixed-rate mortgage Mortgages Banks Industrial 469