Housing Wire

MAY 3, 2023

30-year fixed mortgage rates declined slightly last week, the first rate drop in three weeks, but it wasn’t enough to boost mortgage demand. Mortgage applications fell last week by 1.2% The 30-year fixed rate decreased five basis points to 6.5% the previous week.

Mortgages 371

Mortgages Fixed-rate mortgage Banks Lending 371

Housing Wire

AUGUST 5, 2021

The average 30-year fixed-rate mortgage slipped back down to 2.77% for the week ending August 5, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates had rebounded slightly to 2.80%. Presented by: Black Knight.

Fixed-rate mortgage 523

Fixed-rate mortgage Mortgages Lending Renovation 523

Housing Wire

DECEMBER 16, 2021

The average 30-year-fixed rate mortgage increased to 3.12% during the week ending Dec. 16, up from 3.10% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.67%. Rising mortgage rates have already begun to sap demand.

Fixed-rate mortgage 496

Fixed-rate mortgage Mortgages Lending Banks 496

Housing Wire

SEPTEMBER 16, 2021

The average 30-year-fixed mortgage continued to hover around the 2.86% mark for the week ending Sept. Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” A year ago, the average 15-year-fixed-rate mortgage was 2.35%.

Fixed-rate mortgage 471

Fixed-rate mortgage Mortgages Lending Loans 471

Housing Wire

AUGUST 17, 2023

Reflecting the housing industry’s headwinds, just 16 mortgage lenders and brokers made the annual list of Inc. It’s a sharp decline from 2022, when nearly 70 mortgage lenders and brokers were named. The top mortgage lender on the Inc. Founded in 2019, the Virginia-based lender saw a 2,230% three-year growth rate.

Mortgages 362

Mortgages Loan Officer Fixed-rate mortgage Loans 362

Housing Wire

SEPTEMBER 29, 2023

Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. I would say a vast majority of LOs have woken up to the fact that it won’t get easier,” said Groves, a branch manager at Synergy One Lending and owner of Consolidated Coaching. “I

Loan Officer 403

Loan Officer Mortgages Fixed-rate mortgage Loans 403

Housing Wire

JUNE 1, 2023

Mortgage rates jumped last week amid a debt ceiling impasse and expectations of another federal funds rate hike. However, rates have started to reverse course over the last few days, following news of a debt agreement and an expectation that the Federal Reserve may pause hikes. trillion U.S.

Mortgages 361

Mortgages Fixed-rate mortgage Banks Loans 361

Housing Wire

MARCH 23, 2023

The collapses of Silvergate Bank , Silicon Valley Bank and Signature Bank , the rescue of First Republic Bank and the acquisition of Credit Suisse by UBS, brought turbulence to the financial markets that led to a decline in mortgage rates – despite the Federal Reserve hiking federal funds rate by 25 basis point on Wednesday.

Loans 410

Loans Mortgages Banks Fixed-rate mortgage 410

Housing Wire

SEPTEMBER 2, 2021

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.93%.

Fixed-rate mortgage 528

Fixed-rate mortgage Mortgages Banks Finance 528

Housing Wire

OCTOBER 14, 2021

The average 30-year-fixed mortgage rose seven basis points to 3.05% for the week ending Oct. 14, to its highest level since April, according to Freddie Mac’s latest PMMS survey of mortgage rates. Two weeks ago, rates rose 13 basis points to 3.01%, eclipsing the 3% mark for the first time since June.

Fixed-rate mortgage 386

Fixed-rate mortgage Mortgages Lending Banks 386

Housing Wire

AUGUST 10, 2023

“Homeownership is central to building wealth but has been out of reach for many minority families as a result of systemic inequalities in housing and finance,” Kevin Reen, head of Wells Fargo Home Lending, said in a statement. Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream.

Fixed-rate mortgage 369

Fixed-rate mortgage Closing costs Lending Banks 369

Housing Wire

JANUARY 21, 2022

Freddie anticipates that home purchase mortgage originations will increase in the next two years, spurred by demand coupled with house appreciation. The expectation is that home purchase mortgage originations will grow from $1.9 How lenders can turbocharge mortgage operations for today’s home buyers. trillion in 2021 to $2.1

Fixed-rate mortgage 450

Fixed-rate mortgage Mortgages Lending Sales 450

Housing Wire

MAY 3, 2023

In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates. The Fed’s move on Wednesday was well anticipated and should not cause a major shift in mortgage and other interest rates, experts noted.

Mortgages 360

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 360

Housing Wire

SEPTEMBER 9, 2021

The average 30-year fixed-rate mortgage was stagnant at 2.88% for the week ending Sept. 9, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior , mortgage rates also held steady at 2.87%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.86%.

Fixed-rate mortgage 464

Fixed-rate mortgage Mortgages Equity Lending 464

Housing Wire

MARCH 29, 2022

Mike Cagney didn’t expect to be releasing a cryptocurrency-backed 30-year fixed-rate mortgage product so soon. The plan was for Figure Technologies to launch such a product only after completing the merger with multichannel mortgage lender Homebridge Financial Services. Per Crunchbase , the company has raised $1.6

Mortgages 376

Mortgages Fixed-rate mortgage Technology Loans 376

Housing Wire

MAY 5, 2022

Mortgage rates surged to 5.27% over the last week, the highest average since 2009, according to the latest Freddie Mac PMMS. This week’s average purchase mortgage rate rose 17 basis points from the prior week’s 5.10%. A year ago at this time, 30-year fixed-rate purchase rates were at 2.96%.

Mortgages 362

Mortgages VA loan Fixed-rate mortgage Banks 362

Housing Wire

APRIL 14, 2022

Consolidation in the mortgage industry is likely in 2022, analysts and lending executives said. Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. “I had not done first mortgage lending before, but I was familiar with the basics of real estate lending.

Mortgages 519

Mortgages Marketing Lending Loans 519

Housing Wire

DECEMBER 29, 2023

After nearly two years of trudging through a frozen housing market , the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three times in 2024, shifting toward the next phase in its monetary policymaking. “It There’s still going to be a lag.

Mortgages 440

Mortgages Loan Officer Loans Equity 440

Housing Wire

AUGUST 11, 2022

Likewise, Atlanta-based A ngel Oak Mortgage Inc. , a real estate investment trust focused on nonqualified mortgages, or non-QM, recently announced that it was struggling with red ink — recording a net loss of $52.1 Keith Lind, CEO of non-QM lender Acra Lending, put it this way: “These aren’t bad loans, just bad prices.”. “We

Mortgages 376

Mortgages Loans Residential Lending 376

Housing Wire

AUGUST 7, 2023

Since 2008, the number of private secondary mortgage providers has reduced dramatically, and those that remain in the market generally purchase jumbo loans from more affluent borrowers. While banks also have the capacity to make loans and hold them on their balance sheets, the majority sell most or all of their loans to secondary providers.

Closing 349

Closing Fixed-rate mortgage Debt-to-income ratio Lending 349

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.

Fixed-rate mortgage 370

Fixed-rate mortgage Loans Mortgages Loan Officer 370

Housing Wire

NOVEMBER 10, 2022

Mortgage lenders have imposed new rounds of layoffs in the fourth quarter, reflecting a dreadful landscape for originators. . This week, the latest Freddie Mac weekly survey data showed that the 30-year fixed-rate mortgage increased to 7.08%, up 13 basis points compared to last week. A massive job cut.

Mortgages 362

Mortgages Loan Officer Banks Lending 362

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. In many cases, that product may still be a fixed-rate mortgage. Spelling out the specifics may make some borrowers feel more comfortable taking on a fixed-rate loan at a 7% or higher rate.

Loans 341

Loans Fixed-rate mortgage Lending Loan Officer 341

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. TD Bank ’s HELOC Trend Watch survey found that 43% of homeowners who are planning to renovate intend to use a HELOC or home equity loan to finance the project. Residential Lending at TD Bank.

Renovation 362

Renovation Fixed-rate mortgage Equity Finance 362

Housing Wire

OCTOBER 16, 2023

And the grind may not end anytime soon, Mortgage Bankers Association President and CEO Bob Broeksmit told attendees in a fiery speech at the trade group’s annual conference this week in Philadelphia. on a standard 30-year fixed-rate mortgage. The Fed, for example, could buy mortgage-backed securities.

Fixed-rate mortgage 371

Fixed-rate mortgage Banks Lending Mortgages 371

Housing Wire

MARCH 14, 2023

Consumer prices climbed at a slower pace in February, keeping alive the hope that the Federal Reserve may pause the federal funds rate hikes in its meeting next week following the Silicon Valley Bank and Signature Bank failures. A liquidity crisis hit American banks amid a deposit run. and shelter had a 0.8%

Banks 329

Banks Fixed-rate mortgage MLS Lending 329

Housing Wire

JUNE 14, 2023

The Federal Open Markets Committee (FOMC) has decided to pause its rate hikes in June after data that pointed to cooling inflation and the need to assess how much banks have slowed down their lending due to the recent tumult in the sector. Industry experts believe mortgage rates will remain high compared to last year.

Banks 372

Banks Fixed-rate mortgage Mortgages Investor 372

Marco Santarelli

APRIL 20, 2024

As of April 19, 2024, the mortgage landscape in the United States has been marked by a period of fluctuation, with rates experiencing a slight increase. The average rate for a conventional 30-year fixed mortgage was reported at 7.22% , while the 15-year fixed mortgage stood at 6.657%. and reach 5.5%

Mortgages 119

Mortgages Fixed-rate mortgage Lending Banks 119

Housing Wire

JUNE 16, 2022

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. In early January, rates were as low as 3.4%.

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

MAY 19, 2022

If there’s a bet to be made on the future of the non-agency lending space, it’s that the adjustable-rate mortgage (ARM) will become far more popular this year as purchase mortgages increasingly dominate a housing market pivoting to an up-rate environment.

Industrial 441

Industrial Loan Officer Fixed-rate mortgage Lending 441

Housing Wire

AUGUST 15, 2022

A combination of fast-rising home values and the fact that nearly two-thirds of borrowers with at least some home equity have mortgage rates below 4% — and would not benefit from refinancing — is helping to propel a resurgent market for home-equity lines of credit (HELOCs). billion in 2021 to $4.6 We’ll probably trade a little over $1.2

Equity 419

Equity Lending Fixed-rate mortgage Loans 419

Housing Wire

AUGUST 25, 2022

But there’s another threat that Homepoint executives must worry about – United Wholesale Mortgage (UWM), the top dog in wholesale, has embarked on a strategy of heavy price cutting, forcing Homepoint and others to limbo to compete for business. That has contributed to UWM’s competitors taking losses on loans when they can least afford it.

Mortgages 387

Mortgages Equity Loans Seller concession 387

Housing Wire

OCTOBER 26, 2023

David Spector, chairman and CEO, told analysts that the company had “outstanding results” even as mortgage rates neared 8% in Q3. According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. Pennymac announced on Thursday a $92.87 As of Sept.

Fixed-rate mortgage 368

Fixed-rate mortgage Principal Banks Loans 368

Housing Wire

MARCH 29, 2023

Homeowners collectively nationwide now have more than $10 trillion in tappable equity (equity beyond a 20% cushion) tied up in their properties, according to the Black Knight Mortgage Monitor. The Towd Point deal involved HELOCs as well as CES loans originated by nonbanks Rocket Mortgage and Spring EQ. to 2 points.”

Equity 341

Equity Lending Loans Banks 341

Housing Wire

MARCH 10, 2023

Stubborn inflation and high interest rates continue to wreak havoc on the mortgage-origination market, but there is one asset class in the housing market that is arguably flourishing in these hard times – home equity. I think in 2023, we’re going to see rates higher for longer,” Toohig concludes. to 2 points.”

Equity 357

Equity Marketing Debt-to-income ratio Lending 357

Toronto Realty Blog

APRIL 29, 2024

My mortgage is up for renewal in November of 2024. I closed on my current home in August of 2018 and at the time I had a variable rate. I can lock into a 5-year, fixed-rate mortgage this November which will probably be at least 2% higher than my current rate of 2.59%. ” Now I’m saying it.

Fixed-rate mortgage 85

Fixed-rate mortgage Banks Lending Mortgages 85

Housing Wire

FEBRUARY 10, 2021

Perry joined Freddie Mac in 2011 to oversee the company’s fair lending program. Before that, Nunnink held various production roles for banks and investment groups. Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development.

Equity 523

Equity Fixed-rate mortgage Investor Development 523