Purchase Applications Reach Recent High
The fall home-selling season is set to begin next week, and two leading indicators suggest that buyer demand is on the upswing despite wobbly consumer confidence figures.
Mortgage Rates Hit Highest Level in Eight Weeks. What Gives?
Mortgage rates have been climbing in recent weeks following a spate of encouraging reports on the U.S. economy, including a hotter-than-expected September jobs report and a snapshot of consumer prices.
Don’t Miss the Chance to Refi
If the past is prologue, millions of homeowners with high-rate mortgages won’t refinance their loans, even as mortgage rates tumble.
Mortgage Rates Surged to Nearly 7 Percent This Week
Nonetheless, mortgage applications actually increased slightly from the prior week, driven by a rise in FHA and VA purchase applications.
FHFA Nixes Controversial DTI Fees
After industry opposition to a fee that would have levied an upfront fee on borrowers with debt-to-income ratios greater than 40 percent, the Federal Housing Finance Agency announced it’s dropping the plan.
Report: IMBs Lend More in LMI, Minority Neighborhoods
Even though the Community Reinvestment Act does not apply to independent mortgage banks, these nonbank lenders provide a higher share of their mortgages in minority and low- and moderate-income neighborhoods than banks do, according to a new report from the Urban Institute.
MBA: Purchase Mortgage Applications Reach 28-Year Low
Purchase mortgage applications for the second straight week reached the lowest level since 1995 amid rising interest rates, according to the Mortgage Bankers Association.
MBA: Loan Forbearances Start to Decline Again
As the mortgage industry moves closer to the end of new COVID-related forbearances, the number of homeowners in forbearance decreased last month, according to the Mortgage Bankers Association.
MBA: Commercial, Multifamily Lending to Fall in 2023
Nationwide commercial and multifamily mortgage lending is expected to fall this year by 15 percent, according to an updated forecast from the Mortgage Bankers Association.
Strong Jobs Report Could Push Up Mortgage Rates
The U.S. economy put in a surprisingly strong showing in in January, adding 517,000 new jobs despite layoffs in tech firms, on Wall Street and in the mortgage industry. And while experts say it’s a sign the country is on a path to a “soft landing” from 2022’s tumultuous inflation, it could push mortgage rates up.
Boston Buyer Competition Warmed Slightly as Rates Fell
Falling mortgage rates appear to have brought more buyers out in December than in November, according to a new report from brokerage and listings portal Redfin.
Mortgage Applications Reach Lowest Level in 25+ Years
Amid current economic conditions and the typically low demand for mortgages at year-end, mortgage applications at the end of December reached the lowest level since 1996, according to the Mortgage Bankers Association.
Mortgage Rates-Bond Yield Gap Perplexes Economists
If the normal spread between the interest rates on 10-year Treasury notes and mortgage bonds existed today, the average 30-year mortgage rate could be as low as 5.7 percent.
MBA Sees ‘Pockets of Weakness’ in Forbearance Data
While the number of homeowners in forbearance remained unchanged last month, the Mortgage Bankers Association said it saw signs of weakness in November’s data.
MBA: Purchase Applications Declined Despite Rate Drop
While November saw a nearly 1 percent drop in mortgage rates, the past four weeks have seen applications decrease overall more than 10 percent, according to the Mortgage Bankers Association.
MBA: Forbearance Rate Increases for First Time Since 2020
The number of homeowners in forbearance increased last month for the first time in more than two years, partly thanks to Hurricane Ian’s hit to Florida homebuyers.
Black Knight: Declines in Homebuying More than Seasonal Downturn
October saw homebuyers’ ability to afford a home tumble yet again according to separate data reports yesterday.
MBA: Mortgage Applications at Slowest Pace Since 1997
Mortgage application activity last week slowed to a pace not seen in 25 years as mortgage rates continued to rise, according to the Mortgage Bankers Association.
MBA: Ginnie Mae Forbearances Increased in August
While the number of homeowners in forbearance continued to decline last month, the forbearance rate for Ginnie Mae loans increased for the first time since 2020, according to the Mortgage Bankers Association.
MBA: Forbearance Rate for Portfolio Loans Continues Decline
The number of homeowners in forbearance continued to decline last month, and most of the forbearance exits came from portfolio loans and private-label securities, according to the Mortgage Bankers Association.
