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It hasn’t been this hard to get a mortgage in six years

Housing Wire

Mortgage credit in August was the tightest in more than six years as a weak economy prompted lenders to tighten standards, the Mortgage Bankers Association said in a report on Thursday. The group’s Mortgage Credit Availability Index fell 4.7% The data comes from about 95 lenders and investors, MBA said. 20 forecast.

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DocuSign lays off 400 employees following stalemate in sale talks  

Housing Wire

A majority of the impacted positions came from the company’s sales and marketing organizations, the company said. Founded in 2003 by Tom Gonser, DocuSign went public in 2018 and was valued at about $6 billion at the time. DocuSign’s market capitalization is close to $10.5 DocuSign had 7,336 employees at the end of 2023.

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QC Ally acquires due diligence solutions firm Inglet Blair

Housing Wire

In a statement on Thursday, QC Ally said the acquisition would allow the company to further its mission of helping financial services firms achieve “true enterprise quality” throughout the lifecycle of the loan, from origination to servicing and deeper into secondary markets.

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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. 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.

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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%

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New report shows who took advantage of the Covid refi boom

Housing Wire

mortgage market faced a new “ refinance boom” when mortgage rates declined by nearly 200 basis points between November 2018 and November 2020, following the Federal Reserve rate cuts that were made to remedy the economic impacts of the Covid-19 pandemic. When broken down by investor type, 38% of U.S.

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What will housing credit look like in next recession?

Housing Wire

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. However, the current housing market is much different than the credit boom-and-bust cycle of 2002-2008, and it’s vital to understand why.