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Cause for concern? FHA, VA delinquencies are rising quickly

Housing Wire

New data released Thursday by the Mortgage Bankers Association (MBA) revealed that the delinquency rate for mortgages on one- to four-unit residential properties increased to a seasonally adjusted rate of 3.98% of all loans outstanding at the end of 2024. Department of Veterans Affairs loans.

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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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Looking backward to look forward: Kevin Sears discusses NAR’s vision for 2025

Housing Wire

Sears cited the trade group’s efforts in advocating for changes in VA loan procedures. Department of Veterans Affairs can still use their loan benefit when working with a buyer’s agent regardless of how their agent is being compensated. “So, as I look to 2025 and where we want to go, it is to stick to the basics.

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Refi activity picks up to highest level in two years

Housing Wire

Refinance applications picked up as mortgage rates fell last week, but purchase loan activity had only a small gain, according to data released Wednesday by the Mortgage Bankers Association (MBA). The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S. 2 compared to the previous week.

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Mortgage applications dropped as rates moved higher last week: MBA

Housing Wire

According to HousingWire ’s Mortgage Rates Center , the average rate for 30-year conventional loans was at 7.12% on Wednesday, up from 7.06% a week earlier, while the 15-year conventional rate rose from 6.70% to 6.96% during the same period. The MBA’s survey — which covers 75% of all retail residential mortgage applications in the U.S.

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Mortgage demand drops as interest rates rise, economy remains resilient

Housing Wire

decline in purchase loan demand. Conventional loan refinances, which tend to have larger balances than government loans and hence are more responsive for a given change in mortgage rates, fell to a greater extent over the week.” 4, Federal Housing Administration (FHA) loans decreased by 40 bps and represented 16.2%

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New home applications drop in November

Housing Wire

“November new home sales activity, both mortgage applications and home sales, ran at a pace considerably ahead of 2019, showing the ongoing strong growth in housing demand and new residential construction,” Kan said. The average loan size of new homes increased from $355,684 in October to $357,554 in November, according to the survey.

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