Housing Wire

NOVEMBER 4, 2024

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. billion through its TPO channel.

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Housing Wire

DECEMBER 6, 2023

CBC Mortgage Agency – a federally chartered housing finance agency – will offer two temporary rate buydown features for its down payment assistance (DPA) program for Federal Housing Administration (FHA) loans. The agency is the first to provide either a 2-1 rate buydown or a 1-0 rate buydown on a DPA program.

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FHA loan Loans Mortgages Finance 448

Housing Wire

DECEMBER 20, 2024

and Pete Sessions (R-Texas) on Thursday, the bipartisan bill allows borrowers to stop paying mortgage insurance once their loan-to-value (LTV) ratio reaches 78%, rather than paying it for the life of the loan. This is comparable to existing policies in the market for conventional loans backed by Fannie Mae and Freddie Mac.

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Housing Wire

MARCH 24, 2025

Jumbo loans exceed the Federal Housing Finance Agency ‘s conforming loan limit, which currently stands at $806,500 for a single-family home for most of the country. “A mix of borrower, loan, and market characteristics likely explains the state-level variation we see in mortgage denial rates,” Hale said.

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Housing Wire

FEBRUARY 13, 2025

Loan locks for refinances rose more than 20% year over year while purchase lock counts saw a 6% decrease, according to Optimal Blue ‘s January 2025 Market Advantage mortgage data report released Thursday. Jumbo mortgage rates were up 2 bps, VA loan rates were up 4 bps and FHA loan rates remained unchanged.

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Housing Wire

DECEMBER 18, 2024

Market data at HousingWire ‘s Mortgage Rates Center showed an average fixed rate of 6.87% for 30-year conforming loans on Wednesday, a slight increase from the week ending on Dec. The average rate for 30-year fixed-rate loans for conforming balances (up to $766,550) rose by 8 bps to 6.75%.

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VA loan Mortgages FHA loan Loans 395

Housing Wire

MARCH 20, 2025

Conversely, a handful of smaller markets saw an uptick in flipping activity. Additionally, the share of flipped homes sold to buyers using Federal Housing Administration (FHA) loans remained steady at 10.7%. The top market for FHA buyer activity was Merced, California, where 38.3%

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FHA loan Investor Finance Renovation 333

Housing Wire

FEBRUARY 27, 2025

Higher payments across loan types Borrowers across different mortgage programs also saw their payments rise. FHA loan applicants faced a median monthly payment of $1,934, up from $1,866 in December. Conventional loan applicants saw their median payment increase to $2,225, up from $2,128. Nevada (254.3) Arizona (218.7)

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Mortgages FHA loan Loans As-is 402

Housing Wire

MARCH 5, 2025

According to the MBA, rates for Federal Housing Administration (FHA) loans dipped to 6.42%, while refinance activity posted its fastest pace since October 2024. “But you still have a buyer’s market. So now that rates are dropping, a renovation loan will be in the 7% range.

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Housing Wire

JANUARY 22, 2025

Mortgage escrow accounts are an important, yet widely misunderstood asset in the housing market. Federal Housing Administration (FHA) loan borrowers must maintain escrow accounts for the entire loan cycle, regardless of equity. And those who don’t understand are paying dearly.

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FHA loan Fixed-rate mortgage Equity Mortgages 397

Housing Wire

DECEMBER 9, 2024

After a year filled with rate swings, unpredictable markets and a bit of drama (thank you, inflation), the real estate world is ready for a fresh start. Whether youre looking to buy your first home, upgrade or simply gain clarity on the current market , this guide is your insiders playbook to tackle 2025 with confidence.

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Housing Wire

SEPTEMBER 5, 2024

The Consumer Federation of America (CFA) is calling for policy changes that would help alleviate the difficulties for homebuyers using Federal Housing Administration (FHA) loans when competing in tight markets. mortgage market in 2023, up from 14.3% of the U.S. in 2022, according to HUD.

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FHA loan Debt-to-income ratio Inspection Finance 476

Housing Wire

DECEMBER 6, 2023

Total home loan applications increased 2.8% Slower inflation and the confidence financial markets have that we are nearing the end of the Fed ’s hiking cycle has brought mortgage rates to the lowest level since August. The share of Federal Housing Administration (FHA) loan activity increased to 15%, down from 13.5%

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VA loan Mortgages FHA loan Fixed-rate mortgage 521

Housing Wire

JANUARY 15, 2025

While the market composite index increased over 33% on a seasonally adjusted basis, the index increased 52% on an unadjusted basis during the same time period. This week’s reading, for the week ending Jan. 10, 2025, is a stark difference from last week’s applications , which reflected a seasonal lull following Christmas.

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Fixed-rate mortgage Mortgages FHA loan Loans 370

Housing Wire

JULY 20, 2021

year over year, suggesting a slowdown in the housing market, according to a recent report from the Mortgage Bankers Association. “Last year was the strongest year in the housing market for new home sales in over a decade,” he said. In 2018-2019, total housing market inventory was in the range between 1.52

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Housing Wire

JULY 21, 2023

Since lender grants have limited funding, the programs could be restricted to specific income levels and priority markets, the paper noted. “The FHA could work with Congress to amend the FHA Modernization Act so only entities that can affect the home’s sales price are banned from providing DPA,” Tozer said.

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FHA loan Loans Mortgages Sales 370

Housing Wire

JUNE 3, 2022

Since then, Lakeview has unveiled two additional PLS offerings involving pools of delinquent FHA loans also securitized via Ginnie Mae. In those offering, 100% of the FHA loans involved are delinquent — with about a quarter of the mortgages in each deal in active foreclosure. In total, 99.3% are in active foreclosure.

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Housing Wire

OCTOBER 4, 2023

But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained. “So They are staying busy relative to the market,” Ullmann said.

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FHA loan Loans Loan Officer Mortgages 468

Housing Wire

SEPTEMBER 22, 2023

The Federal Reserve ‘s effort to temper inflation has cooled the housing market that remains subdued with mortgage rates north of 7%. However, a silver lining in the subdued housing market is the strength in new-home sales. They were withdrawing volatility from the market, and they were lowering rates to benefit consumers.

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Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. In addition, more for-sale inventory will likely be available on the market.

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Housing Wire

APRIL 10, 2023

Rate lock volume jumped 43% in March on the back of seasonal tailwinds, falling interest rates and stronger purchase market performance. by the end of the month, Black Knight’s Optimal Blue mortgage market indices showed. Compared to the same period last year, cash-out refis were down 80% and rate/term refis declined 71%.

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FHA loan Marketing Lending Mortgages 397

Housing Wire

JUNE 20, 2024

As of June 14, the state had a 90-day average of 10,393 single-family active listings on the market. Despite the state’s tight inventory, the housing market is not as hot as one might expect. Despite the state’s tight inventory, the housing market is not as hot as one might expect. You are seeing a more conservative aggression.

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Housing Wire

NOVEMBER 10, 2023

FHA loan usage increases in September As sellers field fewer offers, buyers with FHA loans may have greater luck to close on a home. In September, government-insured FHA loans represented a little over 15% of U.S. Conventional loans remain the most common type of mortgage, making up over 75% of all loans.

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FHA loan VA loan Mortgages Loans 468

Housing Wire

DECEMBER 2, 2020

“FHA has seen consistent increases in loan limits during the past few years, putting it in a position to serve a segment of borrowers that may be better-served by the conventional market. FHA’s mission is to support low-to-moderate income borrowers, so why does the law permit FHA to insure mortgages up to $822,375?

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Loans FHA loan Mortgages Construction 534

Housing Wire

OCTOBER 25, 2023

With housing affordability being challenged in a higher mortgage rate environment, fewer homebuyers jumped into the market in the third quarter. Conventional loans remained the most popular loan type for preapproved borrowers, with its share at 75% in Q3, up from 71% in Q2.

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Housing Wire

DECEMBER 22, 2021

17, with fewer borrowers looking for purchases in the lower end of the market, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. The overall market composite index dipped 31.9% That marks the second-highest amount ever, indicating more activity in the higher end of the market. . in the period.

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Mortgages VA loan FHA loan Fixed-rate mortgage 418

Housing Wire

MARCH 27, 2025

By product type, the median mortgage payment for conventional loan applicants was $2,226, up from $2,225 in January and up from $2,194 in February 2024. For FHA loan applicants, the median payment was $1,907 in February, down from $1,934 in January and up from $1,872 in February 2024. The national PAPI increased 0.1%

Mortgages 207

Mortgages FHA loan Loans As-is 207

Housing Wire

NOVEMBER 9, 2023

housing market after 54 programs were added in the third quarter, according to Down Payment Resource (DPR), a homebuyer assistance program data and solutions firm. Program providers are working around the clock to ensure the programs they offer meet the needs of their markets.

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Housing Wire

MARCH 25, 2021

housing market, as well as the need to increase access to affordable mortgage options.” Mortgage insurance is required on all FHA loans, but the cost varies. With FHA loans , the premium depends on the loan balance and down payment size. “Private MI is a great fit for them.”. .”

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Industrial Mortgages FHA loan Finance 544

Housing Wire

DECEMBER 18, 2020

The differences between FHA, VA, and USDA mortgages. A homebuyer’s guide to a competitive housing market. If you plan to use the property as an investment (you’ll have to indicate so on your loan application), then you could face more stringent qualifying requirements. Hard money loans. More for Real Estate Enthusiasts.

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Housing Wire

SEPTEMBER 14, 2023

In a rate-rising environment where it has become more difficult for first-time buyers to get into the market, borrowers won’t have to deal with a file that has an MCR for six months. Demand for FHA loans have risen over the past year to comprise 23.8% to qualify for a FHA loan.

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Loan Officer FHA loan Loans Mortgages 418

Housing Wire

DECEMBER 29, 2022

As we close out 2022, it’s time to reflect on a historic year for the housing market, which was even crazier than the COVID-19 year of 2020. It is crazy to think we are seeing these four things happen in the housing market considering that even in March of this year we were seeing bidding wars accelerate before mortgage rates rose.

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Housing Wire

AUGUST 12, 2024

CoreLogic data shows that homes purchased with piggybacked loans are typically much lower in value, and the borrowers for these properties are usually underwater. In June 2024, the median property value for homes bought with a piggybacked FHA loan was $255,000, compared to $319,000 for homes with FHA loans that did not use a second lien.

Loans 476

Loans FHA loan Equity Closing costs 476

Housing Wire

MARCH 22, 2023

Redfin attributed the drop in down payment amount and percentage to the slower housing market , lower home prices, and higher housing costs due to rising mortgage rates. The less competitive market has also resulted in more buyers using FHA and VA loans. Detroit saw the highest share of FHA loans at 29.5%

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VA loan FHA loan Loans Mortgages 435

Housing Wire

APRIL 13, 2021

The share of refinances in mortgage origination volume dipped below 50% for the first time in 15 months in March, according to Black Knight ‘s new monthly data report, the Originations Market Monitor. With interest rates continuing to tick up, the purchase mortgage market is where most lenders will focus operations over the next year.

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Housing Wire

DECEMBER 27, 2022

FHA Commissioner Julia Gordon. The fate of Federal Housing Administration (FHA)-backed mortgages in the ongoing downcycle housing market is being compared with a canary in the coal mine by several industry experts who track the sector and are seeing early warning signs of distress. Over the past 14 years, FHA has insured 9.1

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FHA loan Loans Mortgages Equity 497

Housing Wire

OCTOBER 16, 2024

The locations of households that have received FHA-backed mortgages have been studied far less, HUD explained. If federal homeownership assistance programs follow national trends, we would expect FHA loans to be associated with whiter and lower-poverty census tracts.”

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