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Housing market stays hot into fall with mortgage applications up 6.8%

Housing Wire

According to Mike Fratantoni, chief economist and vice president of research and technology at MBA, 2003 was the last time refinance activity was as high as the $1.75 The post Housing market stays hot into fall with mortgage applications up 6.8% of total applications from 62.8% the week prior. appeared first on HousingWire.

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MBA predicts record purchase mortgage volume in 2021

Housing Wire

The housing market has seen a meaningful rebound since the onset of the pandemic,” said Mike Fratantoni, MBA chief economist. trillion in mortgage originations – the highest since 2003 and a 50% increase from 2019. . MBA is forecasting a rise in purchase originations to $1.59 For 2020, the MBA is estimating $3.9

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2020 housing disruption paves the way for years to come

Housing Wire

While we may be ready to firmly plant our feet in 2021, we shouldn’t leave the past 12 months behind without taking a critical look at how the COVID-19 pandemic has impacted the housing market, and how it will pave the way for 2021 and beyond.

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The last time houses were this unaffordable was 2006

Housing Wire

Adjustable-rate mortgages, which typically have lower interest rates than fixed-rate mortgages, have become an attractive option for borrowers in a challenging housing market. How lenders can continue to serve borrowers despite housing affordability challenges. As of mid-April, applications for ARM mortgages jumped to 8.5%

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Here’s why we won’t see a housing crisis after COVID-19

Housing Wire

I already hear murmurs from the fear-mongering housing bears that once the forbearance plans expire, we can expect to see a collapse of the housing market in America like we haven’t seen since the bubble years. The post Here’s why we won’t see a housing crisis after COVID-19 appeared first on HousingWire.

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Are we seeing a cash-out refinance crisis?

Housing Wire

I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point. Cash-out loan borrowers who increased their loan balances could get a more favorable rate than in previous years.

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Mortgage lending volume in 2020 likely to break records

Housing Wire

trillion in refinancings, the highest level since 2003 and more than double the level seen in 2019, the mortgage giant said in a forecast on Tuesday. ” The low rates likely will boost the sales of new houses to 777,000 this year, a gain of 14% from 2019, the forecast said. The dollar-volume record will be boosted by $2.4

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