Housing Wire

JANUARY 20, 2025

We knew that mortgage rates over 7% were possible for the year, and here we are. I still expect well spend most of the year under 7% for the 30-year fixed rate mortgage , but until that happens, home sales are at a standstill. When will that be? I have no idea. Ill share some of those signals in a minute.

Sales 397

Sales Mortgages Staging Fixed-rate mortgage 397

Housing Wire

AUGUST 10, 2021

For the first time since December 2019, purchase mortgages represented a higher percentage of closed mortgages than refinances. Purchase mortgages rose to 51% of closed mortgages in June, up from 47% in May, according to the latest origination report from ICE Mortgage Technology (formerly Ellie Mae).

Mortgages 418

Mortgages Marketing Fixed-rate mortgage Lending 418

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 million residential mortgages in Q2 2024, up from 1.31 from Q1 2024 and 1.1% from Q2 2023.

Mortgages 428

Mortgages Fixed-rate mortgage Lending Residential 428

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders.

Mortgages 482

Mortgages Fixed-rate mortgage Loans Loan Officer 482

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 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

APRIL 7, 2021

A monthly mortgage, on the other hand, doesn’t usually increase for homeowners with fixed-rate mortgages. How are your finances? Not to mention, if your finances are solid, you’ll be able to afford all those extra housing expenses. Your Income Is Stable. You’re Actively Paying Down Debt. You Have Savings.

Debt-to-income ratio 476

Debt-to-income ratio Fixed-rate mortgage Finance Loans 476

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

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

JANUARY 4, 2023

That’s because costs for borrowers were higher, reflecting the mortgage market’s response to the Federal Reserve ‘s tightening monetary policy. The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week.

Mortgages 529

Mortgages Fixed-rate mortgage Loans Equity 529

Housing Wire

JUNE 6, 2022

Due to the delays in closing coupled with continued momentum in other parts of our lending, payments, and marketplace businesses, we have concluded with the Homebridge team that the merger will not go forward,” Cagney said in a message sent late Friday to Figure’s team. billion in mortgages, a decrease of 11% compared to 2020.

Fixed-rate mortgage 418

Fixed-rate mortgage Lending Technology Loans 418

Housing Wire

SEPTEMBER 12, 2022

Ahead of the Federal Reserve ’s anticipated rate hike later this month, the 30-year conforming fixed-rate mortgage rates have been trending upward, closing out August at 5.8% , according to Black Knight’s Optimal Blue OBMMI pricing engine. 20 and 21, based on comments by Chairman Jerome Powell.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Finance Closing 370

Housing Wire

OCTOBER 11, 2023

As the 30-year, fixed-rate mortgage hit 7.67% for the week ending Oct. 6, mortgage applications remained near historic lows. However, an uptick in adjustable-rate mortgage (ARM) applications edged total applications up slightly. Mortgage applications picked up 0.6% for the week ending Oct.

Loans 421

Loans VA loan FHA loan Mortgages 421

Housing Wire

DECEMBER 20, 2023

The latest weakness in existing home sales still reflects the buyer bidding process in most of October when mortgage rates were at a two-decade high before the actual closings in November,” NAR Chief Economist Lawrence Yun said in a statement. “A A marked turn can be expected as mortgage rates have plunged in recent weeks.”

Sales 459

Sales Fixed-rate mortgage MLS Mortgages 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. Mortgage , and/or Closing Cost Credit. One of the biggest barriers to achieving homeownership is coming up with the down payment.”

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

SEPTEMBER 16, 2022

UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages 418

Mortgages Seller concession Fixed-rate mortgage Loans 418

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

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

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

Marco Santarelli

MARCH 7, 2025

While rates are low now, individual situations may vary, and it's important for homeowners to analyze their options closely. How Mortgage Interest Rates Work Simply put, a mortgage interest rate is the fee lenders charge for borrowing money, expressed as a percentage. Can you afford the monthly payments?

Mortgages 100

Mortgages Fixed-rate mortgage Finance Loans 100

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

NOVEMBER 10, 2021

Joel Kan, associate vice president of economic and industry forecasting, remarked in a statement that the decrease in mortgage rates , pushed the refi and purchase index upwards. The 30-year fixed rate decreased to 3.16% and has declined 14 basis points over the past two weeks,” Kan said. of total applications from 61.9%

Mortgages 418

Mortgages Fixed-rate mortgage Lending Industrial 418

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 18, 2022

consumers are about the economy and their finances. It has trended lower since 2020, but stayed around 58 for August and September of this year, which may provide some context for the Fed’s desire to continue hiking interest rates. is closely related to movement in the 10-year Treasury rate. The index stood at 58.6

Mortgages 370

Mortgages Marketing Fixed-rate mortgage Lending 370

Housing Wire

JANUARY 19, 2024

Slow home sales in 2023 were accompanied by higher mortgage rates , with the average rate on a 30-year fixed rate mortgage hitting a 23-year high in early November. But we can’t blame high mortgage rates for the deficit in transactions last year. In 2023, 4.09 million units in December, down 1.0%

Fixed-rate mortgage 468

Fixed-rate mortgage Sales MLS Mortgages 468

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. In response, the company said its average rate for the $97.6 UWM ended 2023 as the top U.S.

Fixed-rate mortgage 467

Fixed-rate mortgage Loans Mortgages Loan Officer 467

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. The mortgage rate dip is welcome news for the housing market, but loan originators and industry executives emphasized that rates need to decline further and remain stable to reinvigorate buyers’ demand.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

MARCH 23, 2023

Mortgage industry experts believe the current turbulence has potential to hit the jumbo space harder, mainly due to a reduced investor appetite in the secondary market and banks’ tightened financial conditions for borrowers. The survey shows the same rate was 4.42% a year ago. The leaders in 2022 were Wells Fargo ($45.4

Loans 459

Loans Mortgages Banks Fixed-rate mortgage 459

Housing Wire

SEPTEMBER 22, 2022

Loan officers get an up-close look at how much shoppers and capital-strapped buyers are getting priced out in the rate-rising environment. Will Savage, a loan originator at PMC Mortgage , sees many pre-approved clients having to get reapproved for a mortgage based on the rate increases. .” About 9.1%

Mortgages 448

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 448

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. quarter over quarter and 57.9%

Fixed-rate mortgage 448

Fixed-rate mortgage Principal Banks Loans 448

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

JUNE 6, 2024

The government-sponsored enterprise (GSE) also thinks the Federal Housing Finance Agency ( FHFA ) will encourage it to offer single-family, closed-end second mortgages if a Freddie Mac product under analysis is approved. We have rates at around 7% at the end of this year and closer to 6.5% by the end of next year.

Mortgages 485

Mortgages Pre-approval Equity Investor 485

Housing Wire

APRIL 14, 2022

. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending. Interfirst purchased refinance leads and sent them to Woodward to close. By the fourth quarter of 2021, rates had climbed into the high 3% range, several top originators reported thinning margins and shed thousands of jobs.

Mortgages 526

Mortgages Marketing Lending Loans 526

Housing Wire

FEBRUARY 26, 2024

Reverse mortgage opportunities in California Tom O’Donoghue has been serving as a reverse mortgage professional in the Los Angeles area for several years, and says he sees a lot of potential with a proprietary product offered by Finance of America Reverse (FAR) in his market.

Marketing 447

Marketing Fixed-rate mortgage Loans Mortgages 447

Housing Wire

JULY 27, 2022

through its Angel Oak Mortgage Trust conduit, recently unveiled its latest private-label securitization (PLS) offering — a deal slated to close in early August backed by 788 predominately non-QM loans valued at $362 million. through its affiliated companies, including real estate investment trust, or REIT, Angel Oak Mortgage Inc.

Marketing 397

Marketing Loans Investor Mortgages 397

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

Keeping Current Matters

DECEMBER 9, 2020

According to the Federal Housing Finance Agency (FHFA), annual appreciation since 1991 has averaged 3.8%. However, in real terms (adjusted for inflation), the National index is still about 2% below the bubble peak…As an example, if a house price was $200,000 in January 2000, the price would be close to $291,000 today adjusted for inflation.”.

Fixed-rate mortgage 312

Fixed-rate mortgage Residential Finance Mortgages 312