Housing Wire

MARCH 31, 2021

HousingWire recently sat down with Tom Hutchens, Angel Oak EVP of production, who shared how non-QM lending could be an effective way for lenders to replace lost business in the event of a refi boom slowdown. The post Mortgage applications fall for fourth week appeared first on HousingWire. Presented by: Angel Oak.

Fixed-rate mortgage 459

Fixed-rate mortgage Mortgages Loans Lending 459

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 497

Fixed-rate mortgage Mortgages Lending Loans 497

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

JULY 29, 2021

The average 30-year fixed-rate mortgage increased slightly to 2.80% for the week ending on July 29, halting a streak of weekly declines, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.99%.

Fixed-rate mortgage 448

Fixed-rate mortgage Mortgages Investor Lending 448

Housing Wire

JUNE 30, 2022

FGMC, controlled by global investment management firm PIMCO, said it had “significant operating losses and cash flow challenges due to unforeseen historical adverse market conditions for the mortgage lending industry, including unanticipated market volatility.”.

Bankruptcy 545

Bankruptcy Fixed-rate mortgage Lending Loans 545

Housing Wire

JUNE 5, 2024

The market is relying on first-time homebuyer demand, and many first-time buyers do use government lending programs,” he said. The refinance share of mortgage activity decreased to 31.1% The adjustable-rate mortgage (ARM) share of activity increased to 6.7% Department of Veterans Affairs (VA) loan applications.

VA loan 479

VA loan Mortgages Fixed-rate mortgage Loans 479

Housing Wire

JANUARY 21, 2022

In light of this, HousingWire sat down with Saleforce’s Global Head for Mortgage and Lending, Geoff Green, to learn how lenders can better turbocharge mortgage for today’s home buyers. Additionally, the report mentioned that the average 30-year fixed-rate mortgage is expected to be 3.6%

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Fixed-rate mortgage Mortgages Lending Sales 482

Housing Wire

AUGUST 29, 2024

million residential mortgage originations in the second quarter of 2024, an increase of 23.2% The increase in overall lending in Q2 came amid the Spring homebuying season and lower mortgage interest rates that dipped downward after months of increases, according to Attom ’s Q2 residential property mortgage origination report.

Mortgages 432

Mortgages Fixed-rate mortgage Lending Residential 432

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

JANUARY 10, 2023

About 14% of respondents said that mortgage rates will go down in the next 12 months, while 51% stated that mortgage rates will go up. The agency expects the average 30-year fixed rate mortgage rate in 2023 to rise to 6.3% in the same period.

Fixed-rate mortgage 501

Fixed-rate mortgage Lending Mortgages Sales 501

Housing Wire

JANUARY 5, 2024

Generally, the Fed will adjust its lending rate by a quarter percent, but at times the adjustment has been larger. Homeowners : Depending on the type of mortgage they have and their financial goals, rising or falling interest rates will affect homeowners differently.

Fixed-rate mortgage 468

Fixed-rate mortgage Agents Marketing Lending 468

Housing Wire

FEBRUARY 26, 2021

In Mississippi, single women on average paid 3.47% on a 30-year, conventional fixed-rate mortgage in 2019. Over the lifespan of the mortgage, the single woman in this instance will have roughly $7,000 more in mortgage payments than the single man. Should lenders look to non-QM when the refi boom slows?

Mortgages 514

Mortgages Lending Fixed-rate mortgage Loans 514

Housing Wire

OCTOBER 14, 2021

If we’ve learned anything in the past year, it’s that operational flexibility and accurate servicing valuation are key to lending profitability. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.81%. The 15-year fixed-rate mortgage averaged 2.30% last week, up from the prior week, when it averaged 2.23%.

Fixed-rate mortgage 418

Fixed-rate mortgage Mortgages Lending Banks 418

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. Spelling out the specifics may make some borrowers feel more comfortable taking on a fixed-rate loan at a 7% or higher rate.

Loans 435

Loans Fixed-rate mortgage Lending Loan Officer 435

Housing Wire

FEBRUARY 13, 2023

“Mortgage rates declined in January, continuing a trend that began in early November 2022,” Kevin McMahon, president of Optimal Blue, a division of Black Knight, said in a statement. Cash-out refinances remain down more than 85% from last year and rate/term refinances are still down more than 88% from the same month in 2021.

Fixed-rate mortgage 394

Fixed-rate mortgage Lending Mortgages Loans 394

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. the previous week.

Mortgages 418

Mortgages Fixed-rate mortgage Banks Lending 418

Housing Wire

AUGUST 10, 2021

The data is based on a representative sampling of the mortgage applications initiated on ICE’s Encompass Lending Platform. The average 30-year fixed-rate mortgage was 3.22% in June, down from 3.27% in May but up from 2.93% in December 2020.

Mortgages 418

Mortgages Marketing Fixed-rate mortgage Lending 418

Housing Wire

FEBRUARY 10, 2021

Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program. Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development. She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase.

Equity 529

Equity Fixed-rate mortgage Investor Development 529

Housing Wire

JUNE 4, 2024

Different lenders have different standards and criteria that they look at when deciding who to lend to,” Channel wrote. It’s for that reason that different lenders can offer such drastically different rates to the exact same people. And, by extension, it’s also why shopping around for a lender can help homebuyers save so much money.”

Mortgages 456

Mortgages Fixed-rate mortgage Loans Lending 456

Housing Wire

APRIL 12, 2024

The hotter-than-expected inflation figure raised questions about the Federal Reserve ’s appetite to cut rates this year. It also brought the 30-year fixed-rate mortgage to an average of 7.21% on Friday, up from 7.15% one week earlier, according to HousingWire’s Mortgage Rates Center. year over year.

Mortgages 468

Mortgages Banks Fixed-rate mortgage Lending 468

Housing Wire

JUNE 6, 2022

We are bringing together the most robust, powerful and efficient technology ever seen in lending and pairing that with a $25 billion a year loan originator,” Cagney, co-founder and CEO of Figure, said in a statement during the announcement. But things did not happen as expected.

Fixed-rate mortgage 418

Fixed-rate mortgage Lending Technology Loans 418

Housing Wire

AUGUST 15, 2024

Community financial institutions can originate fixed-rate mortgage loans that are attractive to homebuyers and sell them in the secondary market, thereby reducing the lending institutions’ risk of carrying long-term loans on their balance sheets.

Industrial 476

Industrial Fixed-rate mortgage Banks Loans 476

Housing Wire

NOVEMBER 10, 2021

The dip in rates might have helped to bring some buyers back into the market, but housing inventory is still extremely low and price growth remains elevated.”. Freddie Mac ‘s PPMS Mortgage Survey published earlier this week found that the average 30-year-fixed rate mortgage dropped to 3.09% during the same week.

Mortgages 418

Mortgages Fixed-rate mortgage Lending Industrial 418

Housing Wire

AUGUST 7, 2023

The financial incentives are simply not there for mortgage companies that want to do more minority lending; therefore, it shouldn’t be a surprise that most banks and mortgage lenders do just enough minority lending to stay out of regulatory trouble but secretly have no desire to do much beyond that.

Closing 370

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

Housing Wire

MARCH 27, 2023

Fannie Mae has projected that the recent bank failures may act as the catalyst that tips an already precarious economy into a recession — primarily due to the combination of tighter lending standards by small- and mid-sized regional banks.

Banks 397

Banks Lending Fixed-rate mortgage Construction 397

Housing Wire

MAY 19, 2022

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment. It’s a very well-trodden path.”.

Industrial 476

Industrial Loan Officer Fixed-rate mortgage Lending 476

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs allow homeowners to draw funds from their credit lines when they need them and typically offer lower rates than other fixed loan mortgage products and many unsecured consumer lending options.

Renovation 397

Renovation Fixed-rate mortgage Equity 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 surprising surge in rates – up from 3% in January to over 6% in June – breathed new life into ARMs on the demand side, especially for loans with large balances.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

AUGUST 10, 2023

“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Mortgage , and/or Closing Cost Credit. Wells Fargo’s mortgage originations reached $7.8

Fixed-rate mortgage 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

SEPTEMBER 29, 2023

I would say a vast majority of LOs have woken up to the fact that it won’t get easier,” said Groves, a branch manager at Synergy One Lending and owner of Consolidated Coaching. 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

MARCH 16, 2023

Industry observers said that, at least in the short term, mortgage rate declines will support home prices but lead to a better outlook for the spring season. Freddie Mac’s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage at 6.60% as of March 16, down 13 basis points from the previous week.

Banks 397

Banks Mortgages Fixed-rate mortgage Lending 397

Housing Wire

NOVEMBER 23, 2022

MBA estimates the average contract 30-year fixed-rate mortgage for conforming loans ($647,200 or less) fell to 6.67% from the previous week’s 6.90%. At its recent peak about a month ago, rates reached 7.16%. Jumbo mortgage loans (greater than $647,200) this week also decreased to 6.30% from 6.51%, the MBA said.

As-is 418

As-is Mortgages Fixed-rate mortgage Loans 418

Housing Wire

DECEMBER 11, 2023

A top-tier borrower with a 780 FICO score and a 25-30% down payment for a single-family vanilla 30-year fixed-rate mortgage was quoted 6.875% on Thursday, said Larry Steinway, senior vice president of mortgage lending and branch manager of Revolution Mortgage. “We in 2024, followed by 5.5% in 2025.

Mortgages 482

Mortgages Fixed-rate mortgage Equity Loans 482

Housing Wire

JUNE 28, 2022

It’s caused frustration for FGMC’s lending partners. A West Coast-based lending executive told HousingWire that FGMC said it can’t or won’t honor locks in its correspondent pipeline, even loans that were cleared for funding and underwritten by FGMC. “On Friday, we stopped getting responses via email. .”

Loans 397

Loans Due diligence Fixed-rate mortgage Lending 397

Housing Wire

MARCH 29, 2022

Mike Cagney didn’t expect to be releasing a cryptocurrency-backed 30-year fixed-rate mortgage product so soon. The plan was for Figure Technologies to launch such a product only after completing the merger with multichannel mortgage lender Homebridge Financial Services.

Mortgages 397

Mortgages Fixed-rate mortgage Technology Loans 397

Housing Wire

JANUARY 26, 2022

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, all mortgage rates continue to climb, but the 30-year fixed rate rose for the fifth consecutive week to its highest level since March 2020. The keys to lending in a post-refi boom world.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Lending 370

Housing Wire

AUGUST 15, 2022

HELOCs allow homeowners to tap the equity in their home without incurring a much higher first-lien mortgage via a cash-out refinancing. The interest rate for a 30-year, fixed-rate mortgage averaged 5.22% as of August 11, according to Freddie Mac’s most recent weekly Primary Mortgage Market Survey.

Equity 459

Equity Lending Fixed-rate mortgage Loans 459