Housing Wire

SEPTEMBER 6, 2024

Mortgage rate pricing for homebuyers hasn’t changed significantly as lenders have already priced in a Federal Reserve rate cut of 25 basis points (bps) that is expected later this month, loan originators told HousingWire. That’s why we are not seeing much movement in rates.” That did not happen.

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Housing Wire

DECEMBER 15, 2021

“Fewer homeowners have a strong incentive to refinance at current rates,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. The trade group estimates that the average contract 30-year fixed-rate mortgage for conforming loans ($548,250 or less) remained unchanged at 3.30%.

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Housing Wire

MAY 25, 2022

“Currently, higher rates, low inventory, and high prices are keeping prospective buyers out of the market.”. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) marginally fell to 10.4% and the Veterans Affairs (VA) loans fell to 10.4%

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Housing Wire

JUNE 1, 2022

Refinance share of the mortgage activity declined to 31.5% Purchase applications last week were 14% lower than last year, with more activity in the larger loan sizes, said Kan. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($642,000 or less) fell to 5.33% from 5.46% in the prior week.

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Housing Wire

DECEMBER 8, 2021

“Mortgage rates declined for the first time in a month, prompting a pickup in refinancing, with government refinances increasing more than 20% over the week,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. of total mortgage applications, down from 59.4% in the same period.

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Housing Wire

MARCH 16, 2022

Mortgage rates, which recently hit 4.27% for 30-year-fixed rate mortgages, are now a full percentage point higher than a year ago. That’s led to a significant decline in refinance activity, both for conventional and government loans. from 0.39 (including the origination fee) for 80 percent LTV loans.

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Housing Wire

MAY 4, 2022

The uptick, as measured by the Mortgage Bankers Association ‘s (MBA’s) Market Composite Index, was propelled primarily by purchase-application activity, as rates remain elevated, hovering in the low 5% range and a drag on refinance volume. The seasonally adjusted purchase index rose 4.1% percent, up from 4.89

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Housing Wire

NOVEMBER 24, 2021

“Both conventional and government loan applications increased, and the average loan size for a purchase loan was at $407,200, continuing its ongoing 2021 run of being mostly above $400,000,” Kan said. For jumbo mortgage loans (greater than $548,250), it went to 3.28% from 3.26%. Refi represented 63.1%

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Housing Wire

MARCH 3, 2021

“Purchase applications increased, with a rise in government applications – likely first-time buyers – pulling down the average loan size for the first time in six weeks.”. The FHA share of total mortgage applications increased to 12.1% The VA share of total mortgage applications decreased to 12.3% from 11.2%

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Housing Wire

JUNE 26, 2023

The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans. 35% of loan modifications completed in Q1 “reduced borrowers’ monthly payments by more than 20%,” the report’s findings said. “The

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Housing Wire

JANUARY 13, 2021

“Even with the rise in mortgage rates, refinancing did not slow to begin the year, with the index hitting its highest level since last March,” said Kan. “Both conventional and government refinance applications increased, with applications for government loans having their strongest week since June 2012.”. from 10.1%

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Housing Wire

DECEMBER 22, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that the average purchase loan increased to $416,200. of total mortgage applications, up from 63.3% VA loans comprised 11.5%, an increase of nine basis points. The share of USDA loans was 0.5%. Refi apps fell 42.4%

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Housing Wire

JUNE 8, 2022

The average contract interest rate for 30-year-fixed-rate mortgages with conforming loan balances ($642,000 or less) rose to 5.40% from 5.33%. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $647,000) rose to 4.90% from 4.93%.

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Housing Wire

NOVEMBER 30, 2021

Regarding purchase activity, he said the increase in applications was driven by a 6% growth in conventional loans apps, which tend to be larger than government loans. The average loan amount increased to $414,700, the highest since February. For jumbo mortgage loans (greater than $548,250), it went to 3.27% from 3.28%.

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Housing Wire

JULY 28, 2021

Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity. “With over 95% of refinance applications for fixed rate mortgages, borrowers are looking to secure a lower rate for the life of their loan,” Kan said Wednesday.

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Housing Wire

MARCH 10, 2021

“Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said. “Signs of faster economic growth, an improving job market and increased vaccine distribution are pushing rates higher.

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Housing Wire

JUNE 9, 2021

“Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 Compared to last year, fewer people are applying for purchase mortgages, the MBA reported, as home prices continue to rise and prospective buyers avoid astronomical bidding wars.

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Housing Wire

NOVEMBER 4, 2020

“Mortgage rates continue to hover at record lows this fall. The 30-year fixed mortgage rate remained essentially unchanged at 3.01 percent last week, but rates for 15-year fixed-rate loans, FHA loans and jumbo loans all fell to new MBA survey lows.”. of total applications.

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Housing Wire

APRIL 21, 2021

The jump in applications can be traced to mortgage rates falling to the lowest level in two months, prompting a small resurgence in refinance activity, said Joel Kan, MBA associate vice president of economic and industry forecasting. The post Mortgage applications rebound following drop in rates appeared first on HousingWire.

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Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

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Housing Wire

JUNE 23, 2021

. “Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan said, “Government purchase applications drove most of last week’s increase, which also contributed to a slightly lower overall average purchase loan size.”.

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Housing Wire

MAY 12, 2021

. “The decline in rates helped the refinance index reach its highest level in eight weeks, driven by a 4% increase in conventional refinances,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. The post Mortgage applications jump as rates fall to 2.96% appeared first on HousingWire.

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Housing Wire

OCTOBER 7, 2020

The average loan size increased again to a new record at $371,500, as activity in the higher loan size categories continues to lead growth.”. As a result, the lower price tiers are seeing slower growth, which is contributing to the rising trend in average loan balances,” Kan said. The post Mortgage applications rise 4.6%

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Housing Wire

AUGUST 23, 2023

Mortgage applications fell for the fifth consecutive week as the 30-year fixed-rate mortgage rose to 7.31%, its highest level since December 2000. For the week that ended August 18, mortgage applications fell 4.2% from the prior week , according to data from the Mortgage Bankers Association. from 13.8%

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Housing Wire

MAY 26, 2021

The post Mortgage applications decrease 4% appeared first on HousingWire.

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Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. They do this to reduce their risk and to free up their capital to process more loans. Fixed-rate mortgages provide stability and predictability.

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Housing Wire

APRIL 28, 2021

Here is a more detailed breakdown of this week’s mortgage application data: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.17% from 3.2%

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Housing Wire

MARCH 17, 2021

The post Mortgage applications continue to fall as rates climb appeared first on HousingWire.

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Housing Wire

MARCH 31, 2021

The average contract interest rate for 30-year fixed-rate mortgages decreased to 3.29% from 3.35% — the first decrease in three weeks The average contract interest rate for 15-year fixed-rate mortgages decreased to 2.71% from 2.72% The average contract interest rate for 5/1 ARMs increased to 2.85% from 2.79%.

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Housing Wire

JANUARY 6, 2021

Here is a more detailed breakdown of this week’s mortgage application data: The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($510,400 or less) increased to 2.86% from 2.9% The post Mortgage applications drop over holidays appeared first on HousingWire.

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Housing Wire

MAY 19, 2021

Mortgage applications increased for the second straight week , this time jumping 1.2% for the week ending May 14, 2021, according to the latest report from the Mortgage Bankers Association. All loan types hit their highest levels in two weeks.

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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.

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Housing Wire

APRIL 7, 2021

The post Rising rates push mortgage applications down for fifth week appeared first on HousingWire.

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Housing Wire

MARCH 24, 2021

The post Mortgage applications dip as home prices climb appeared first on HousingWire.

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Housing Wire

MAY 5, 2022

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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Point2Homes

AUGUST 26, 2021

In this guide, we’ll take a quick look at the different types of mortgage loans available. Conventional Loans. A conventional loan is any mortgage loan that is not guaranteed or insured by a government entity. Conventional loans are provided through private lenders, banks or credit unions.

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Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8% in the same period.

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