Housing Wire

MARCH 11, 2024

The spring homebuying season kicked off with a monthly jump in purchase mortgage locks despite rising interest rates. Rate lock volume rose 5% from January to February due to a notable 8.3% for rate-and-term refis and by 3.1% for cash-out loans. for rate-and-term refis and by 3.1% for cash-out loans.

Lending 411

Lending Mortgage Marketing 411

Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% The 30-year fixed-rate mortgage averaged 6.6% 12 compared to a week earlier.

Mortgage 528

Mortgage Inventory Retail Construction 528

Housing Wire

NOVEMBER 28, 2023

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550, up 5.5% Conforming loan limits are increasing at a slower pace, mirroring home prices, overall. The regulator compares home prices year over year and adjusts the limit by the corresponding amount.

Finance 532

Finance Government Law Mortgage 532

Housing Wire

DECEMBER 6, 2023

Falling mortgage rates last week brought increased demand. Total home loan applications increased 2.8% 1 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). The 30-year fixed-rate mortgage averaged 7.17% last week. for the week ending Dec. the week prior.

Mortgage 512

Mortgage Marketing Inventory Finance 512

Housing Wire

FEBRUARY 8, 2024

Mortgage delinquencies kept rising slightly in the fourth quarter of 2023 as Americans continued to indulge in personal spending. But delinquency rates remain well below historic averages, according to new data from the Mortgage Bankers Association (MBA). And the past-due rate for U.S. in the previous quarter.

Mortgage 349

Mortgage Inventory 349

Housing Wire

NOVEMBER 29, 2023

Lower mortgage rates have brought increased mortgage demand. Total home loan applications increased 0.3% 24 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). Mortgage rates for the 30-year fixed loan averaged 7.29% as of Nov. the week prior.

Mortgage 359

Mortgage Marketing 359

Housing Wire

FEBRUARY 28, 2024

Higher interest rates in recent weeks have made a dent in housing activity, bringing down mortgage demand. Mortgage applications decreased by 5.6% on a seasonally adjusted basis during the week ending Feb. 23, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey.

Mortgage 338

Mortgage Retail Inventory Marketing 338

Housing Wire

OCTOBER 4, 2023

Mortgage applications ground to a halt for the week ending Sept. 29, falling 6% from the week prior as mortgage rates jumped to a 23-year high of 7.53%, according to new weekly data from the Mortgage Bankers Association. Mortgage application activity is now at its lowest level since 1996, the MBA reported.

Mortgage 466

Mortgage Contracts Marketing 466

Housing Wire

FEBRUARY 12, 2024

Mortgage rates continued their downward trajectory at the start of 2024, incentivizing homebuyers to apply for loans. Cash-out and rate-and-term refinance volumes rose 30% and 20%, respectively. The Optimal Blue Mortgage Market Indices’ 30-year conforming rate dropped 4 basis points in January to reach 6.53%.

Housing Market 338

Housing Market Marketing Government Inventory 338

Housing Wire

FEBRUARY 28, 2024

United Wholesale Mortgage (UWM) ended 2023 as the top U.S. mortgage company, with more than $108 billion in home loans produced in the period, a record purchase volume and increased margins. financially profitable, which the company attributed to mortgage servicing rights (MSR) markdowns. million for the year.

Mortgage 391

Mortgage Inventory Marketing Lending 391

Housing Wire

DECEMBER 20, 2023

Mortgage demand fell for the first time since November as mortgage rates reached their lowest level since June 2023. Total home loan applications decreased by 1.5% 15 compared to the previous week, according to data from the Mortgage Bankers Association (MBA). for the week ending Dec. the week prior.

Mortgage 353

Mortgage Marketing Finance 353

Housing Wire

NOVEMBER 15, 2023

Both purchase and refinance applications increased to their highest weekly pace in five weeks after mortgage rates logged the largest decline in a year. Total home loan applications increased 2.8% 10 compared to the previous week , according to weekly data from the Mortgage Bankers Association (MBA).

Mortgage 392

Mortgage Marketing Finance 392

Housing Wire

NOVEMBER 8, 2023

Mortgage applications picked up for the first time in four weeks as mortgage rates dropped by 25 basis points, to 7.61%. The Fed’s rate hike pause, combined with a softer October jobs report and the U.S Treasury’s issuance update, paved the way for rates to come down. 3, total home loan applications increased 2.5%

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Mortgage Inventory Finance 403

Housing Wire

APRIL 2, 2024

New American Funding (NAF) has snagged top Chicago loan officer Larry Steinway as it looks to grow its presence in the Chicagoland area. billion of loan volume in his nearly 30-year career, started at NAF on April 1 as its vice president producing area sales manager tasked with expanding the lender’s footprint in the Chicagoland area.

Loan Officers 347

Loan Officers Retail Finance Buyers 347

Housing Wire

NOVEMBER 1, 2023

Mortgage applications fell for the third week in a row as mortgage rates surged toward 8%. 27, total home loan applications fell 2.1% compared to the week prior , according to weekly mortgage application data from the Mortgage Bankers Association (MBA). For the week ending Oct. of all applications.”

Mortgage 383

Mortgage Government Marketing Finance 383

Housing Wire

NOVEMBER 13, 2023

Affordability headwinds continued in the mortgage industry with mortgage rate lock volume remaining virtually flat in October. Both purchase and refinance volumes continued to wane in the face of the highest mortgage rates in over two decades, according to Optimal Blue’ s originations market monitor report.

Mortgage 355

Mortgage Investors Marketing Business 355

Housing Wire

SEPTEMBER 20, 2023

In the week leading up to the Federal Open Market Committee meeting, mortgage applications finally ticked up. 15, mortgage applications rose 5.4% from the prior week , according to data from the Mortgage Bankers Association. The refinance share of mortgage activity increased to 31.6% For the week that ended Sept.

Mortgage 393

Mortgage Inventory Contracts Buyers 393

Housing Wire

MARCH 5, 2024

Housing affordability is at its lowest level in more than a decade, according to the National Association of Home Builders (NAHB), and there are few ways to circumvent the rising costs of housing. Mortgage assumption is a niche option that gained momentum in 2023. trillion in FHA and VA loans. Raunaq Singh About $8.5

Mortgage 395

Mortgage Buyers Agents Real Estate Agent 395

Housing Wire

AUGUST 30, 2023

Mortgage applications for home purchases and refinances increased for the first time in five weeks but remain at low levels. 25, mortgage applications picked up 2.3% The seasonally adjusted purchase index increased 2% from one week earlier while the unadjusted purchase index was 27% lower than the same week one year ago.

Mortgage 360

Mortgage Contracts Government Inventory 360

Housing Wire

DECEMBER 13, 2023

mortgage lender United Wholesale Mortgage (UWM) is offering discounted rates on some government loans until January for brokers to create their own “refi boom,” the company announced on Wednesday. The initiative includes three new exclusive rates – 5.749% paying 1.5

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Government Mortgage Clients Investing 367

Housing Wire

AUGUST 31, 2023

Mortgage rates ticked down modestly after job openings data for July came out yesterday, but rates remain elevated. Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.18% as of Aug.

Mortgage 372

Mortgage Housing Market Contracts Buyers 372

Housing Wire

MARCH 5, 2024

The federally insured reverse mortgage known as a Home Equity Conversion Mortgage (HECM) is unique, as are the rates that impact the HECM product. For this reason, I will provide a short monthly educational focus, followed by a summary of the HECM rate market. With a HECM loan, the U.S.

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Mortgage Insurance Home Value Development 351

Housing Wire

APRIL 9, 2024

In a message to mortgage brokers, United Wholesale Mortgage (UWM) defended itself from the Hunterbrook Media report that claims the lender orchestrated a scheme to steer loans. He worked for an independent mortgage broker that actually shopped between options.

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Legal Brokerage Mortgage Loan Officers 366

Housing Wire

JANUARY 3, 2024

Mortgage demand fell over the holidays despite declining mortgage rates. Mortgage applications decreased 9.4% 29 compared to two weeks earlier, according to data from the Mortgage Bankers Association (MBA). Purchase applications decreased by 5% week over week on an adjusted basis. for the week ending Dec.

Mortgage 339

Mortgage Housing Market Construction Inventory 339

Housing Wire

FEBRUARY 6, 2024

The elevated interest rate environment has brought an old product, the assumable mortgage, back into fashion. Assumable mortgages remain a niche market compared to new mortgage issuance. The fees are typically lower than those of new loans and no appraisal is needed. But these transactions have grown recently.

Mortgage 367

Mortgage Sellers Advertising Buyers 367

Housing Wire

NOVEMBER 2, 2023

Virginia-based community bank Trustar Bank sold its mortgage subsidiary to Archer Mortgage Holding Company, the companies announced on Thursday. According to its website, Trustar Bank offers 7/1 and 10/1 adjustable rate mortgages ( ARMs ), consumer construction loans and home equity line of credits.

Mortgage 367

Mortgage Loan Officers Construction Retail 367

Housing Wire

SEPTEMBER 13, 2023

The last time mortgage demand was this low, Toni Braxton’s “Un-break my heart” topped the Billboard charts. 8, mortgage applications fell 0.8% from the prior week , according to data from the Mortgage Bankers Association. The refinance share of mortgage activity decreased to 29.1% from 13.7%

Mortgage 360

Mortgage Contracts Finance 360

Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

Tools 374

Tools Inventory Sellers Buyers 374

Housing Wire

APRIL 26, 2024

The new guidance as published in the Federal Register and in a new ML “also restores FHA’s previous policy that discount points and interest rate buydowns are not allowable closing costs,” FHA explained. Historically, mortgage lenders and originators have been prohibited from contributing to closing costs to protect borrowers.”

Real Estate Agent 381

Real Estate Agent Development Real Estate Law 381

Housing Wire

MAY 4, 2022

Individuals across the country chasing the American dream of homeownership helped to push mortgage-application volume up by 2.5% The seasonally adjusted purchase index rose 4.1% from the prior week, fueled by increased conventional, Federal Housing Administration (FHA) and Veterans Affairs (VA) loan-application volume.

Mortgage 363

Mortgage Contracts Retail Inventory 363

Housing Wire

AUGUST 14, 2023

Rate lock activity fell for the second month in July as mortgage rates topped 7% for the first time since November 2022. Overall rate lock volume was down 7% month over month, with purchase lending accounting for 88% of total lock activity, according to Black Knight ‘s originations market monitor report.

Housing Market 326

Housing Market Mortgage Inventory Lending 326

Housing Wire

OCTOBER 2, 2023

Home prices continued to accelerate in August, rising a seasonally adjusted 0.68% from July and hitting another record high for the fourth consecutive month. This marks three months of clear acceleration in the rate of growth at the national level, with annual HPA up from 2.4%

Mortgage 385

Mortgage Lending Marketing Housing Market 385

Housing Wire

DECEMBER 1, 2023

The latest baseline increase in conforming loan limits has enabled loan originator Dave Krichmar’s client to make a 5% down payment instead of 10%. The self-employed homebuyer found an $800,000 home in Texas, but with the conforming loan limit for 2023 being $726,200, the buyer needed a jumbo loan or a bank statement loan.

Finance 387

Finance Buyers Mortgage Inventory 387

Housing Wire

MARCH 8, 2023

It’s counterintuitive but real: Despite surging mortgage rates , borrowers’ demand for home loans rose last week. There were very low levels of mortgage applications in the weeks prior to the surprising uptick. In addition, loan officers said that investors took advantage of a slower market.

Mortgage 358

Mortgage Loan Officers Investors Government 358

Housing Wire

JUNE 12, 2023

The housing market, which is facing challenges with mortgage rates , affordability, prices and inventory, hasn’t been this purchase-dominant in decades, according to Black Knight ’s originations market monitor report. Today, nearly nine out of every 10 mortgages originated is a purchase loan, the report notes.

Mortgage 398

Mortgage Housing Market Inventory Lending 398

Housing Wire

APRIL 27, 2022

Interest in residential mortgage loans fell 8.3% for the week ending April 22, including a sharp decline in purchase applications, which indicates a potential weakness in home sales in the coming months, according to the Mortgage Bankers Association ‘s (MBA) latest survey. from a year ago. the previous week. from 10.1%.

Housing Market 381

Housing Market Mortgage Marketing Retail 381

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Rates averaged 5.27% during the same period a year ago. Mortgage rates tend to align with the 10-year U.S.

Mortgage 356

Mortgage Inventory Housing Market Buyers 356