Remove refinance
article thumbnail

Refinances make a comeback in July

Housing Wire

Refinances are flowing once again, according to July mortgage origination figures in a report from Black Knight, and early data from August suggests more are on the way. For the first time since February , refinance activity accounted for half of all origination activity, according to a report by Black Knight. month-over-month.

Mortgages 427
article thumbnail

Refinance wave boosts mortgage applications 3.8%

Housing Wire

The refinance wave showed no signs of stopping as refinance activity gained 6% from the previous week – up 88% higher than the same week last year. The drop in rates spurred an uptick in demand for refinances,” Kan said. The post Refinance wave boosts mortgage applications 3.8% from 11.7%.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Are we seeing a cash-out refinance crisis?

Housing Wire

I hear a lot of chatter about a boom in cash-out refinances, and the presumption seems to be that this is destined to wreak havoc on the housing market and the economy at some point. First, the refinance boom’s main driver in the 2000s was unhealthy because of the marketplace’s speculative unhealthy lending standards.

Equity 541
article thumbnail

Who stands to lose with 50bp GSE refinance fee?

Housing Wire

Fannie Mae and Freddie Mac announced they will add a 50 basis points fee to all refinances starting Sept. The Mortgage Bankers Association said this GSE refinance fee will hurt Americans during a time of crisis. The Mortgage Bankers Association said this GSE refinance fee will hurt Americans during a time of crisis.

Mortgages 529
article thumbnail

Refinance applications fall as mortgage rates rise

Housing Wire

13 compared to the week prior and fewer borrowers opted to refinance, according to the latest report from the Mortgage Bankers Association. The increase in mortgage rates caused a 5% decrease in refinancing, driven by a 7% drop in conventional refinance applications. The refinance share of mortgage activity decreased to 67.3%

article thumbnail

Refinance applications sputter despite low rates

Housing Wire

27, with a notable drop in refinance applications, according to the latest report from the Mortgage Bankers Association. The refinance index fell 4% but was still higher than it was a year ago. Despite low rates, refinance applications declined, with some borrowers still waiting for rates to drop even lower. from 67.3%

article thumbnail

Mortgage rate increases push refinance share lower

Housing Wire

With two consecutive weeks of mortgage rates over 3%, refinances continued to retreat. The refinance share of mortgage activity decreased to 62.2% The refinance index was down 2% from the week prior, a staggering 26% lower than it was the same week last year. Mortgage applications increased 0.3% the week prior.