Remove 2003 Remove Inventory Remove Marketing Remove Mortgage
article thumbnail

New American Funding onboards top Chicago loan officer 

Housing Wire

Larry Steinway, VP producing area sales manager at New American Funding He joins NAF from Revolution Mortgage , where he served as branch production sales manager and SVP of mortgage lending for a little over a year. Chicago, I think, is suffering more than most markets in the United States. Steinway, who closed more than $1.5

article thumbnail

MBA forecast for 2021: Prepare for rising mortgage interest rates

Housing Wire

At its Annual event Wednesday, Mortgage Bankers Association Chief Economist Mike Fratantoni forecast that interest rates could rise in the year to come, but that they will remain near all-time lows. The chart below shows interest rates for the 30-year fixed-rate mortgage will end this year at about 3% and could hit around 3.3%

Mortgage 403
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

United Wholesale Mortgage plans $16B public debut via acquisition

Housing Wire

United Wholesale Mortgage , the largest wholesale lending firm in the country, is joining the blank-check company craze and will make its public debut via an acquisition. UWM’s move into the public markets follows that of rival Rocket Companies , the country’s largest mortgage lender by volume. billion profit.

Mortgage 542
article thumbnail

Holiday week sees drop in mortgage applications

Housing Wire

The Mortgage Bankers Association reported that applications dropped 0.6% Purchase activities continued to show impressive year-over-year gains, with both the conventional and government segments of the market posting another week of growth,” Kan said. The refinance share of mortgage activity decreased to 69.5% the previous week.

Mortgage 310
article thumbnail

The risk of zero-down loans while the Fed talks recession

Housing Wire

The housing market is very subsidized for demand to grow and whenever the economy gets weaker, rates fall and that impacts the housing market in a disproportionate way. This can lead to home prices getting out of control , especially when total inventory gets to all-time lows. This is what we do in America.

Inventory 543
article thumbnail

The forbearance crash bros spoke too soon

Housing Wire

Despite what they promised, we sit here today with the United States housing market outperforming all other economic sectors in the world during the pandemic. In order for the housing market to crash due to too many loans going into default when forbearance programs end, the number of loans in these programs needs to grow.

Inventory 545
article thumbnail

Cash-out refis are in high demand as equity levels skyrocket

Housing Wire

“That works out to nearly $178,000 available in tappable equity to the average homeowner with a mortgage before hitting a maximum combined loan-to-value ratio of 80%.”. Overall, mortgage holders withdrew more than $70 billion in equity in the third quarter, equivalent to just 0.8% will result in the tightest affordability since 2009.

Inventory 441