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Purchase mortgage demand drops 13% year over year: MBA

Housing Wire

Department of Veterans Affairs (VA) loan applications. 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% And the VA share of total applications increased from 12% to 12.1%

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Mortgage applications fall for fourth week

Housing Wire

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.

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Average mortgage rate climbs to 13-year high of 5.27%

Housing Wire

and the adjustable-rate mortgage share remained unchanged at 9.3% of total applications, according to the Mortgage Bankers Association. The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. Refi applications dropped to 33.9%

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Opinion: how to close the minority homeownership gap

Housing Wire

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.

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Mortgage demand falls despite a decline in rates

Housing Wire

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.

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Today’s Mortgage Rates March 20, 2025: Rates Rise Marginally This Week

Marco Santarelli

30-Year Fixed: This remains a popular choice for many homebuyers due to its lower monthly payments , making homeownership more accessible. However, it's crucial to understand the risk of rate adjustments after the initial fixed-rate period.

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A Guide to Assumable Mortgages in Today’s Market

HomeLight

This means that a qualified buyer can take over the existing FHA loan, subject to lender approval. You will need to qualify for traditional FHA loan requirements, such as having a credit score of at least 580 and being able to make a minimum down payment of 3.5%. VA funding fee.

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