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

Housing Wire

Despite mortgage rates rising slightly from a previously all-time low, mortgage applications gained 6.8% last week, according to a report from the Mortgage Bankers Association. Refinances also nearly reached two thirds share of mortgage activity last week, increasing to 64.3% of total applications from 62.8% from 3.07%.

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MBA predicts record purchase mortgage volume in 2021

Housing Wire

The Mortgage Bankers Association on Tuesday released revised estimates for the third and fourth quarter of 2020 as well as predicting record purchase volume for 2021. The rebounding economy is also likely to mean higher mortgage rates , with the MBA forecasting 2.9% The Simple Secret to Maximizing Profitability in a High Volume Market.

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Nations Lending, Carpenter Realtors launch Commitment Mortgage

Housing Wire

Full-service mortgage lender Nations Lending and local Indiana real estate firm Carpenter Realtors launched a joint venture, Commitment Mortgage , in order to offer an end-to-end experience — from finding a home to closing a loan in a cooled-down housing market. “We trillion, according to the Mortgage Bankers Association.

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Mortgage lending volume in 2020 likely to break records

Housing Wire

Fannie Mae , the world’s largest mortgage financier, said mortgage lending this year probably will reach an all-time high of $3.9 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 annual average U.S.

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Lenders target growing Hispanic homeownership market

Housing Wire

Guaranteed Rate and CrossCountry Mortgage have their eyes fixed on serving more Hispanic borrowers, who are expected to make up 70% of homeownership growth in the U.S. A Spanish website and mortgage applications tool to help Hispanics overcome language barriers went live this week by CrossCountry Mortgage. billion in loans.

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What will housing credit look like in next recession?

Housing Wire

With the banking crisis spurring more talk of a recession, the question now is: What would housing credit look like in a recession? housing market would crash during the pandemic. One of the main reasons for that fear was that housing credit was about to get tight, meaning fewer people could buy homes with mortgages.

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The last time houses were this unaffordable was 2006

Housing Wire

in February, which was the first month to see price growth greater than 20%, according to Black Knight ’s monthly mortgage monitor report. Since the start of 2022, rates have gone up 200 basis points and housing prices have surged 5.9%. How lenders can continue to serve borrowers despite housing affordability challenges.