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Mortgage rates climb as US yields hit highest level since 2008

Housing Wire

bond yields hit their highest level since 2008. At Mortgage News Daily on Thursday morning, the 30-year fixed rate for conventional loans was 7.34%, up 29 basis points from the previous week. Several mortgage loan officers told HousingWire they were quoting rates between 7.2% on Wednesday. In early August, the U.S.

Mortgage 370
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How the Fed’s rate hike will affect the housing market

Housing Wire

neighborhood, housing market, Fall, homes, new house sales, forbearance. The Federal Reserve ’s 75 basis point interest rate hike – its largest since 1994 – proves the central bank is laser-focused on slowing inflation, but loan officers and housing economists don’t expect mortgage rates to come down until consumer prices fall.

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Mortgage market affordability and inventory challenges

Housing Wire

Black Knight reported that May was the least affordable housing market in 16 years. For the first time in three years, we have seen an increase in homes on the market and price reductions. In Portland, Oregon, for example, one loan officer noted that new listings doubled in the second half of May from 800 to 1,900 new listings.

Inventory 395
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HW+ Member Spotlight: Brian Gubernick

Housing Wire

This week’s HW+ member spotlight features Brian Gubernick, chief real estate officer at Homeward. He has more than 15 years of industry experience, holding multiple positions in the industry including being an investor, team owner/leader, brokerage operating partner, coach and trainer and corporate executive.

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ARMs race: adjustable-rate mortgages make a comeback

Housing Wire

But this year, as rates have crested 6%, about 70% of Neat’s originations are adjustable-rate mortgages, a product that until recently had fallen out of favor due to the role they played in the housing crash of 2008 and a decade-plus of fixed-rate mortgages under 5%. .

Mortgage 370
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Will new products stop the bleeding for mortgage lenders? 

Housing Wire

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. It comes at a time in which the housing market favors buyers and seller concessions become more frequent.

Mortgage 395
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Non-QM lenders are back. But will brokers pick up the phone?

Housing Wire

His corner of the Atlanta mortgage market – high-value home loans that wouldn’t be bought by the GSEs – was booming. Liquidity had dried up and bond investors were running for the hills. At that point, Dodson was actively working on a jumbo loan for friends of his from church. And it doesn’t.

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