Housing Wire

MARCH 26, 2024

Of these actions, 2.682 million have been permanent loan modifications and 3.519 million actions have been other forms of assistance that allowed troubled borrowers to stay in their homes. Loan modifications dropped from 14,363 in Q3 to 12,758 in Q4, an 11.2% The rate for U.S.

Government 428

Government Mortgage Inventory Real Estate 428

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 435

Lending Mortgage Marketing 435

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 533

Finance Government Law Mortgage 533

Housing Wire

APRIL 24, 2024

Seniors could choose to employ home equity through a reverse mortgage or other equity-tapping product to manage a series of expenses in retirement , but when it comes to managing their tax burden , it can get more complicated. But some financial advisers are hesitant to recommend the strategy.

Bracketing 343

Bracketing Clients Law Finance 343

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 420

Mortgage Buyers Agents Real Estate Agent 420

Housing Wire

JANUARY 9, 2024

Home-equity lending overall found its wings in 2023 as a number of independent mortgage banks ramped up product lines over the course of the year — despite a bump in the road in the third quarter when mortgage rates surged past 7%. Market indicators so far appear tentatively promising.

Lending 448

Lending Inventory Mortgage Finance 448

Housing Wire

MARCH 5, 2024

Ahead of Friday’s national jobs report, mortgage rates have found stability after increasing for multiple weeks. Polly ’s average 30-year fixed rate for conventional loans was 7.17% on Tuesday, down from 7.24% one week earlier, according to HousingWire’s Mortgage Rates Center. one week earlier. Between Feb.

Mortgage 448

Mortgage Inventory Sellers Investors 448

Housing Wire

FEBRUARY 5, 2024

Recent market trends — including an improvement in mortgage rates, housing affordability and potential refinance opportunities — suggest positive signs for the real estate market this year, according to February’s Mortgage Monitor report from Intercontinental Exchange (ICE). Mortgage rates held at 6.71% as of Jan.

Housing Market 452

Housing Market Marketing Mortgage Lending 452

Housing Wire

DECEMBER 21, 2023

Mortgage rates stayed below 7% for the second week in a row, a welcome relief after a 17-week streak of above-7% rates. The 30-year, fixed mortgage rate averaged 6.67% for the week ending Dec. 21, according to Freddie Mac ‘s Primary Mortgage Market Survey. by mid-year and to decline further to 6.2%

Mortgage 500

Mortgage Inventory Construction Marketing 500

Housing Wire

JANUARY 17, 2024

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. Overall, mortgage applications rose by 10.4% Overall, mortgage applications rose by 10.4% ” .”

Mortgage 439

Mortgage Retail Investors Marketing 439

Housing Wire

MARCH 3, 2024

First-time homebuyers made up 55% of agency purchase mortgages in 2023, according to Intercontinental Exchange (ICE) eMBS data, the highest such share in the 10 years ICE has been tracking the metric. In January, ICE’s conforming 30-year fixed mortgage rate lock index showed rates averaging 6.6%.

Lending 502

Lending Mortgage Buyers Government 502

Housing Wire

FEBRUARY 15, 2024

The combination of high home prices and insufficient savings for a down payment makes it challenging for first-time homebuyers to pull the trigger on a property purchase. They’re using a DPA program through the New Jersey Housing and Mortgage Finance Agency (NJHMFA). said Michael Ullmann, a producing branch leader at Movement Mortgage.

Mortgage 450

Mortgage Buyers Loan Officers Sellers 450

Appraisal Buzz

APRIL 2, 2024

With mortgage rates now well above 6.5% and home prices rising to all-time highs due to lack of inventory, first-time homebuyers are getting discouraged by declining affordability. This underscores how higher mortgage rates and rising home prices have negatively impacted affordability for millions of would-be home buyers.

Housing Market 393

Housing Market Marketing Inventory Mortgage 393

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

Loan Officers 409

Loan Officers Mortgage Buyers Finance 409

Housing Wire

APRIL 25, 2024

The majority of respondents to a recent Zillow survey said they have experienced discrimination in housing, with racial minorities and members of the LGBTQ+ community among the groups reporting fair housing issues at even higher rates. Renters (61%) reported higher rates of discrimination than homeowners (53%).

Real Estate Agent 327

Real Estate Agent Law Real Estate Clients 327

Housing Wire

APRIL 10, 2024

loans from mortgage services and place them in its portfolio at a fixed 2.5% interest rate. The estimate is based on the savings from avoiding foreclosures compared to the cost of purchasing these homes. Meanwhile, missed payments were moved to the end of the loan term. Department of Veteran Affairs (V.A.)

Mortgage 356

Mortgage Government Lending Law 356

Housing Wire

APRIL 26, 2024

Homebuyer affordability declined in March as mortgage rates and home prices remained elevated. The national median monthly payment for purchase mortgage applicants rose to $2,201 in March, up from $2,184 in February. The national median monthly mortgage payment rose $17 from February to March. in February.

Mortgage 276

Mortgage Housing Market Buyers Marketing 276

Housing Wire

NOVEMBER 22, 2023

Mortgage applications rose to their highest level in six weeks after the 30-year fixed mortgage rate fell to 7.44% last week. Total home loan applications increased 3% for the week ending Nov. 17 compared to the previous week , according to data from the Mortgage Bankers Association (MBA). the previous week.

Mortgage 465

Mortgage Government Marketing Finance 465

Housing Wire

APRIL 12, 2024

Wells Fargo and JPMorgan Chase usually open the quarterly earnings seasons in the mortgage space, giving analysts something to chew on before nonbanks release their financial reports. Wells Fargo CEO Charlie Scharf told analysts that “credit trends remain generally consistent“ and loan delinquencies continue to perform as forecasted.

Mortgage 397

Mortgage Retail Lending Business 397

Housing Wire

JANUARY 31, 2024

Mortgage demand slumped last week as consumers hit the brakes on purchase applications. Mortgage applications decreased by 7.2% 26 compared to one week earlier on a seasonally adjusted basis, according to the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey. in the week ending Jan.

Mortgage 403

Mortgage Retail Buyers Finance 403

Housing Wire

APRIL 4, 2024

In the March rate update , we discussed why Federal Housing Administration (FHA)-sponsored Home Equity Conversion Mortgages (HECMs) utilize two interest rates. This rate is used, among other things, to help determine a borrower’s initial principal limit (borrowing capacity). of a prospect’s home value.

Mortgage 332

Mortgage Home Value Development Appraisal 332

Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgage 459

Mortgage Construction Buyers Inventory 459

Housing Wire

FEBRUARY 20, 2024

Some racial minorities also witnessed a surge in their homeownership rates. According to a new report from the National Association of Realtors (NAR) titled “A Snapshot of Race and Home Buying in America,” Asian and Hispanic Americans achieved historic heights in homeownership rates in 2022 of 63.3% and 51.1%, respectively.

Buyers 413

Buyers Inventory Realtors Mortgage 413

Housing Wire

APRIL 18, 2024

The recent hotter-than-expected inflation reading sent mortgage rates upward. On Thursday, HousingWire’s Mortgage Rates Center showed the average 30-year fixed rate for conventional loans at 7.31%, up from 7.19% a week earlier. There’s no guarantee that rates will come down soon.”

Mortgage 318

Mortgage Housing Market Realtors Inventory 318

Housing Wire

DECEMBER 5, 2023

California-based Pennymac Financial Services ’s broker division, Pennymac TPO , launched a home equity loan product as tappable home equity nears its 2022 peak. A home equity loan — also known as a second mortgage — enables a homeowner to borrow money by leveraging equity in a home.

Mortgage 378

Mortgage Clients Technology Finance 378

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 376

Loan Officers Retail Finance Buyers 376

Housing Wire

OCTOBER 19, 2023

In late August, when mortgage rates were well over 7% and beginning their climb toward 8%, Jeff Anderson had a client do what few other homeowners are willing to do: She gave up her 4% mortgage rate. By doing a cash-out refi, she landed a $340,000 FHA loan and locked in a 6.9% mortgage rate at the end of August. “At

Mortgage 479

Mortgage Clients Lending Home Improvement 479

Housing Wire

OCTOBER 4, 2023

In an environment where 30-year fixed mortgage rates are racing towards 8%, loan officer pipelines are thinning dramatically. But LOs who cater to first-time homebuyers’ needs – offering FHA loans and down payment assistance loans — are faring better, Michael Ullmann, producing branch leader at Movement Mortgage , explained.

Loan Officers 441

Loan Officers Mortgage Finance Buyers 441

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 366

Housing Market Marketing Government Inventory 366

Housing Wire

DECEMBER 3, 2023

Rising home prices have pushed the third quarter’s tappable home equity amount near its 2022 peak, but interest rates are making homeowners reluctant to extract that wealth. Indeed, in recent quarters, equity withdrawal rates have been running at less than half their long-run averages.

Mortgage 434

Mortgage Technology Lending Marketing 434

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.

Legal 396

Legal Brokerage Mortgage Loan Officers 396

Housing Wire

JANUARY 31, 2024

United Wholesale Mortgage (UWM) announced Wednesday that it’s allowing its broker partners to offer a temporary discount of 100 basis points (bps) for conventional rate-and-term refinances. The discount is valid on new loan locks through March 29. But there’s no seasoning requirement on loans originated by other companies.

Government 436

Government Mortgage Clients Business 436

Housing Wire

MARCH 28, 2024

Modern manufactured homes are an unusual feature of today’s housing market, the rare homeownership opportunity that is both lower-cost and high-quality. The result is that safe and affordable financing is out of reach for tens of thousands of credit-ready homebuyers looking to purchase a manufactured home. Yet help might be on the way.

Business 426

Business Finance Buyers Lending 426

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 515

Mortgage Marketing Inventory Finance 515

Housing Wire

MARCH 15, 2024

Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks reported an average net loss of $2,109 on each loan they originated in the fourth quarter of 2023, according to the Mortgage Bankers Association (MBA). Loan production expenses averaged around $7,389 per loan.

Valuation 425

Valuation Mortgage Inventory Marketing 425

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 416

Finance Buyers Mortgage Inventory 416

Housing Wire

JANUARY 12, 2024

Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer. But with RateReduce Sell, sellers will be able secure a lower rate by buying down points permanently.

Sellers 422

Sellers Real Estate Agent Loan Officers Mortgage 422