Housing Wire

NOVEMBER 30, 2021

The Federal Housing Finance Agency (FHFA) today announced the baseline conforming loan limit for 2022 will be $647,200, an increase of 18%. The federal government will now back mortgage loans of nearly $1 million, with the new ceiling loan limit for one-unit properties in most high-cost areas now $970,800 — or 150% of $647,200.

Mortgages 535

Mortgages Loans Finance Industrial 535

Housing Wire

OCTOBER 10, 2023

Chicago-based Guaranteed Rate raised agency conforming loan limits to $750,000 on Monday, representing an increase of 3.2% We raised the conforming loan limits to $750,000 on our Fannie Mae and Freddie Mac 30-year fixed. It followed the announcement made by Rocket Pro TPO , the wholesale arm of Rocket Mortgage , on Oct.

Loans 410

Loans Banks Mortgages Finance 410

Housing Wire

OCTOBER 12, 2023

Mortgage-rate-lock volume fell 20% in September, led by a combination of seasonal decline in purchase activity and rising interest rates, according to Optimal Blue ’s Originations Market Monitor report. The average loan amount increased to $353,000 in September while the average purchase price on locked loans remained the same at $450,000.

VA loan 445

VA loan Mortgages FHA loan Loans 445

Housing Wire

MARCH 11, 2024

The spring homebuying season kicked off with a monthly jump in purchase mortgage locks despite rising interest rates. Overall, 86% of originations in February consisted of purchase mortgages, with refis accounting for 14%. The OBMMI 30-year conforming rate index increased by 36 basis points (bps) to 6.89%. for cash-out loans.

VA loan 450

VA loan FHA loan Loans Lending 450

Housing Wire

OCTOBER 11, 2023

The country’s top lender, United Wholesale Mortgage (UWM), raised agency conforming loan limits to $750,000 following other firms’ moves ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected next month. UWM will honor expected limits for conventional and VA loans locked starting Oct. This represents a 3.2%

Loans 441

Loans VA loan Finance Mortgages 441

Housing Wire

SEPTEMBER 9, 2022

Pennymac followed the tracks of Rocket Pro TPO and United Wholesale Mortgage in raising conforming loan limits ahead of the Federal Housing Finance Agency ‘s (FHFA) decision to do so in November. Official 2023 conforming loan limit changes will be determined by the FHFA announcement, she added.

Loans 410

Loans Finance Branding Mortgages 410

Housing Wire

FEBRUARY 12, 2024

Mortgage rates continued their downward trajectory at the start of 2024, incentivizing homebuyers to apply for loans. The spread between the 10-year Treasury yield and mortgage rates narrowed to 250 basis points in January, 19 basis points less than a month earlier. These include jumbo and nonqualified mortgage (non-QM) loans.

VA loan 410

VA loan Marketing Loans Mortgages 410

Housing Wire

SEPTEMBER 7, 2022

The wholesale arm of Rocket Mortgage on Tuesday raised anticipated agency conforming loan limits to $715,000, a sign that the nation’s largest mortgage lender is confident the maximum loan limit set by the federal government will rise by at least 10% in 2023. 6, the lender said Tuesday. “We’re

Loans 466

Loans Mortgages Lending Equity 466

Housing Wire

NOVEMBER 29, 2022

The Federal Housing Finance Agency (FHFA) on Tuesday announced that the baseline conforming loan limit for 2023 will be $726,200, an increase of 12.21%, or $79,000, compared to 2022. . It will also result in further debate about whether the government should be backing mortgages as high as $1 million.

Mortgages 370

Mortgages Loans Finance As-is 370

Inman

OCTOBER 2, 2023

The move could help qualifying borrowers avoid taking out a jumbo mortgage at a higher rate as Rocket gets a jump on an expected increase in Fannie Mae and Freddie Mac's 2024 loan limits.

Loans 180

Loans Mortgages Finance 180

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% in the week ending Jan. ”

Mortgages 473

Mortgages Fixed-rate mortgage Loans Residential 473

Housing Wire

SEPTEMBER 21, 2022

Ann Arbor, Michigan-based mortgage lender Homepoint has raised conforming loan limits ahead of the Federal Housing Finance Agency ’s (FHFA) decision expected to November. The decision follows that of competitors Rocket Mortgage , United Wholesale Mortgage , Pennymac and Finance of America.

Loans 370

Loans Finance Mortgages As-is 370

Housing Wire

OCTOBER 11, 2021

Earlier in the month, PennyMac Financial and United Wholesale Mortgage publicly announced that they are each raising their conforming loan ceilings by 14%, nearly two months ahead of the Federal Housing Finance Agency ‘s official decree. They’re not the only ones getting a jump on new conforming loan limits.

Loans 421

Loans Lending Mortgages Banks 421

Housing Wire

OCTOBER 1, 2021

PennyMac announced this week that it is upping conforming loan limits by almost 14% through broker and correspondent channels. The 2021 baseline national conforming loan limit for a one-unit property is currently capped at $548,250, though this number is expected to increase sometime in November.

Loans 458

Loans Lending Finance Equity 458

Housing Wire

SEPTEMBER 8, 2022

Fiercer competition in the wholesale channel spurred United Wholesale Mortgage (UWM) to increase the ceiling on conforming loans on Wednesday, ahead of the Federal Housing Finance Agency’s (FHFA) decision in November. UWM said it is focused on “giving mortgage brokers a competitive advantage.”.

Loans 384

Loans Lending Finance Equity 384

Housing Wire

JANUARY 9, 2024

Ohio-based mortgage lender CrossCountry Mortgage has adopted the updated credit scoring model FICO Score 10 T to support origination of non-conforming loans and issue mortgage-backed securities (MBS), the company announced on Tuesday.

Loans 441

Loans Investor Mortgages Lending 441

Housing Wire

MARCH 13, 2024

A decline in interest rates buoyed mortgage demand for another week. Mortgage applications increased by 7.1% on a seasonally adjusted basis during the week ending March 8, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. retail residential mortgage applications.

Mortgages 450

Mortgages Loans Residential Marketing 450

Housing Wire

JANUARY 24, 2024

Mortgage demand continued to increase last week, as seen in an uptick in purchase activity. Mortgage applications rose by 3.7% 19 compared to one week earlier on a seasonally adjusted basis, per the Mortgage Bankers Association ‘s (MBA) weekly mortgage applications survey. retail residential mortgage applications.

Mortgages 479

Mortgages Fixed-rate mortgage Loans Residential 479

Housing Wire

SEPTEMBER 10, 2023

in August, the third consecutive decline as mortgage rates climbed to the highest level in more than 20 years. From what the data is showing us, much of this still very scarce activity is occurring among first-lien holders with older mortgages, or with particularly low balances, for whom today’s rates become less of an issue.”

Marketing 473

Marketing Loans Mortgages Closing 473

Housing Wire

MARCH 6, 2024

The typically busy spring housing market seems to already be at the doorstep despite stubbornly higher mortgage rates. Mortgage applications increased by 9.7% on a seasonally adjusted basis during the week ending March 1, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey.

Mortgages 432

Mortgages FHA loan Loans Residential 432

Housing Wire

FEBRUARY 7, 2024

Mortgage demand picked up last week as lower interest rates steered homebuyers back into the market, but activity remains weaker than a year ago because of limited inventory. Mortgage applications increased by 3.7% Mortgage applications increased by 3.7% The 30-year fixed-rate mortgage averaged 6.63% as of Feb.

Mortgages 473

Mortgages Fixed-rate mortgage Loans Residential 473

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. month over month.

Mortgages 431

Mortgages VA loan Loans Investor 431

Housing Wire

FEBRUARY 9, 2024

The availability of mortgage credit increased in January, according to a report issued by the Mortgage Bankers Association (MBA) based on data sourced from ICE Mortgage Technology. The MBA’s Mortgage Credit Availability Index (MCAI) increased in January to 92.7, and the Conforming MCAI rose by 0.2%

Mortgages 432

Mortgages Lending Loans Technology 432

Housing Wire

FEBRUARY 21, 2024

Mortgage demand continued its downward trajectory last week as interest rates moved back above 7%. Mortgage applications decreased by 10.6% 16, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.77% as of Feb. And the U.S.

Mortgages 441

Mortgages Fixed-rate mortgage Loans Residential 441

Housing Wire

SEPTEMBER 12, 2023

Mortgage credit availability increased slightly in August but remained close to the very low levels last seen in January 2013, according a report from the Mortgage Bankers Association. The trade group’s monthly Mortgage Credit Availability Index picked up by 0.3% The conforming index dropped to its lowest level since 2011.

Mortgages 397

Mortgages Lending Loans Banks 397

Housing Wire

FEBRUARY 14, 2024

Mortgage demand was weaker last week as interest rates moved higher across the board. Mortgage applications decreased by 2.3% 9, according to the Mortgage Bankers Association ’s (MBA) weekly mortgage applications survey. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. Last week, refis comprised 34.2%

Mortgages 410

Mortgages Fixed-rate mortgage Loans Residential 410

Housing Wire

DECEMBER 12, 2023

In the mortgage business, November typically represents the start of the slow season. While mortgage rates cooled down significantly from October, it wasn’t enough to overcome seasonal, historic trends and low levels of inventory. Jumbo rates fell 34 bps to 7.61%, FHA dropped 54 bps to 6.90%, and VA dropped 61 bps to 6.79%.

Mortgages 441

Mortgages Loans Marketing 441

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.

Mortgages 450

Mortgages Fixed-rate mortgage Loans Residential 450

Housing Wire

APRIL 24, 2024

Mortgage lenders should get used to the concept of ”higher for longer” interest rates and work to bring profitability to their businesses, according to Stan Middleman, founder, president and CEO at Freedom Mortgage. In September 2023, to support its operations, Freedom Mortgage raised $1.3 compared to the previous year.

Debt-to-income ratio 432

Debt-to-income ratio Mortgages Loans Finance 432

Housing Wire

JULY 12, 2023

In other words, nearly nine out of every 10 mortgages originated is a purchase loan. Rate lock activity fell 1% month over month in May, with conforming loans gaining share mainly at the expense of non-conforming loan products. The benchmark 30-year mortgage finished the month 6 basis points (bps) higher at 6.78%.

Marketing 370

Marketing Loans Lending Mortgages 370

Housing Wire

SEPTEMBER 28, 2023

Mortgage rates climbed again this week as investors braced themselves for ‘higher-for-longer’ conditions following last week’s Fed meeting. By contrast, the 30-year fixed-rate mortgage was at 6.70% a year ago at this time. Other indices showed significantly higher mortgage rates this week. on September 27 from 4.3% a week prior.

Fixed-rate mortgage 466

Fixed-rate mortgage Mortgages Loans Investor 466

Housing Wire

NOVEMBER 29, 2022

The conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac will pass the $1 million mark for the first time in 2023, reigniting a debate about the government’s role in the mortgage market and its persistent affordability challenges. ” Raise the (conforming loan) roof.

Loans 284

Loans VA loan Lending Mortgages 284

Housing Wire

SEPTEMBER 21, 2023

Mortgage rates remained well above 7% on Thursday as markets digested Wednesday’s Fed meeting. 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 7.19% as of Sept. Other indices showed different mortgage rates this week.

Mortgages 432

Mortgages Fixed-rate mortgage Loans Construction 432

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. Brokers, however, must follow some rules. Meanwhile, purchase originations are estimated at $1.5

Loans 450

Loans Mortgages Closing Marketing 450

Housing Wire

FEBRUARY 5, 2024

The 30-year fixed mortgage rate surpassed the 7% mark on Monday on the heels of strong economic data and the Federal Reserve signaling that it will move carefully with any future cuts to interest rates. The 30-year conforming fixed mortgage rate was at 7.04% on Mortgage News Daily and 6.91% on HousingWire’s Mortgage Rate Center.

Mortgages 473

Mortgages Investor Banks As-is 473

Housing Wire

MARCH 8, 2023

Dubbed the “ Same Day Mortgage ,” the program is aimed at giving a competitive edge to first-time buyers who are competing against the all-cash buyers who make up 28% of home purchases, the lender said. Loans that require appraisal are still 100% eligible for Same Day Mortgage, the company noted. “If

Loans 384

Loans Closing Closing costs Mortgages 384

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. Overall, mortgage applications fell last week by 8.8% from one week earlier on a seasonally adjusted basis, per the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey.

Mortgages 384

Mortgages Fixed-rate mortgage Marketing Loans 384