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More homebuyers seek government-backed loans as an affordability lifeline

Housing Wire

The company’s newest National Housing Market Outlook shows that buyers are gravitating toward government-backed loans in their search for affordability. As a result, more buyers are turning to products like Federal Housing Administration (FHA) loans, which accounted for 24% of primary home purchases in 2024, and U.S.

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Mortgage demand for new homes is down 6.9% in the past year

Housing Wire

The share of Federal Housing Administration (FHA) loan applications hit a record high for the survey, accounting for nearly one-third of all applications. The average loan size decreased, signaling that first-time homebuyers remain active in the market, Kan said. By loan type, conventional mortgages made up 56.7%

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Next on the road map: Candor automates underwriting for FHA loans

Housing Wire

Mortgage tech firm Candor Technology has expanded its Loan Engineering System (LES) to include Federal Housing Administration (FHA) loans. The company now fully automates underwriting decisions for FHA loans — minus collateral – and also offers a warranty on income calculations and cleared conditions for funded FHA loans.

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UWM now offering ultra-low mortgage rates on FHA loans

Housing Wire

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. on FHA loans, the company announced in a statement on Wednesday. The Conquest FHA announcement is the latest in a series of UWM product launches in 2020.

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FHA loan limit increases to $524,225 in 2025

Housing Wire

The Federal Housing Administration (FHA) is increasing the “floor” and “ceiling” FHA loan limits in 2025 to $524,225 and $1,209,750, respectively, the agency announced Tuesday. The new FHA loan limits apply to forward mortgages for a one-unit property and take effect on Jan.

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Mortgage demand for new homes is slowing, but the market is still warm

Housing Wire

MBA estimates from the builder application survey show that sales of new single-family homes were running at a seasonally adjusted annual rate of 713,000 units in November 2024. Additionally, the 713,000 unit seasonally adjusted annual pace of new home sales was the third strongest month of 2024. from the 56,000 sales in October.

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In a sluggish market, Rocket Mortgage courts brokers with pricing incentive

Housing Wire

The third party origination (TPO) division of Rocket Mortgage on Monday announced the rollout of its latest product, 24 Takeoff, which allows mortgage broker partners to receive a 24 basis point credit on all eligible loans until Nov. 29, which gave borrowers a 75-basis-point rate cut on various refinancing options.

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