Housing Wire

JULY 15, 2021

The average 30-year fixed-rate mortgage fell two basis points from the week prior to 2.88%, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The summer swoon in mortgage rates continues as the 30-year fixed-rate mortgage fell for the third consecutive week,” Khater said.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Banks Investor 493

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

AUGUST 24, 2023

Mortgage rate shot up again last week as the bond market continues to grapple with a growing economy in the run up to the next Federal Open Market Committee meeting. Investors are concerned that the central bank will continue raising the funds rate, pushing borrowing costs even higher. What to expect with the Fed ?

Mortgages 364

Mortgages Fixed-rate mortgage Banks Investor 364

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%. A year ago, at this time, it averaged 2.21%.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Lending Banks 493

Housing Wire

SEPTEMBER 16, 2021

.” “The holding pattern in rates reflects the markets’ view that the prospects for the economy have dimmed somewhat due to the rebound in new COVID cases,” said Sam Khater, Freddie Mac’s chief economist. According to Freddie Mac, the 30-year-fixed-rate mortgage was down slightly from last week’s 2.88% (with an average of 0.7

Fixed-rate mortgage 471

Fixed-rate mortgage Mortgages Lending Loans 471

Housing Wire

AUGUST 10, 2023

The grant funds can only be used toward the down payment on a Wells Fargo fixed-rate conventional loan secured by a property that will be the purchaser’s primary residence. Eligible buyers can combine the bank’s grant with other programs including — Wells Fargo’s Dream. Mortgage , and/or Closing Cost Credit.

Fixed-rate mortgage 369

Fixed-rate mortgage Closing costs Lending Banks 369

Housing Wire

MAY 3, 2023

The Federal Reserve (Fed) raised its key federal funds rate for the 10th consecutive time, announcing a 0.25% rate hike Wednesday to 5% to 5.25%, a level they have not reached since 2007. For months, the central bank said it needed to make additional changes before it took its foot off the gas. It represents a shift or sorts.

Banks 370

Banks Fixed-rate mortgage Loan Officer Mortgages 370

Housing Wire

OCTOBER 7, 2021

The week before , rates had made it above the 3% mark for the first time since June. Sam Khater, Freddie Mac’s chief economist, said in a statement that rates remain close to 3% as a result of continued unknowns in the financial markets, as the pandemic lingers on. Mortgage rates typically move in tandem with the ten-year U.S.

Mortgages 477

Mortgages Fixed-rate mortgage Banks Development 477

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 406

Loans Mortgages Banks Fixed-rate mortgage 406

Housing Wire

APRIL 9, 2024

One of the authors, Matthew Termine, worked at the fintech mortgage brokerage Morty from 2019 to 2024, first as corporate counsel and then as vice president of legal, regulatory, and compliance. He worked for an independent mortgage broker that actually shopped between options. He left in February. This is not unique to UWM brokers.

Fixed-rate mortgage 362

Fixed-rate mortgage Loans Mortgages Loan Officer 362

Housing Wire

AUGUST 12, 2021

The average 30-year fixed-rate mortgage rose to 2.87% for the week ending in August 12, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The increase follows six consecutive weeks of mortgage rate declines. for the week ending Aug.

Fixed-rate mortgage 477

Fixed-rate mortgage Mortgages Banks Finance 477

Housing Wire

FEBRUARY 3, 2023

The past few years in the housing industry have been nothing short of unprecedented. In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. There is risk involved as HELOCs are tied to the prime rate and can continue to rise. Residential Lending at TD Bank.

Renovation 356

Renovation Fixed-rate mortgage Equity Finance 356

Housing Wire

JANUARY 18, 2021

As the calendar flipped to 2021, it didn’t take long for the rise in mortgage rates. Just two weeks into the new year, Freddie Mac reported that mortgage rates climbed 14 basis points to 2.79% , a dramatic contrast to 2020, a year in which mortgage rates set record lows 16 times. in 2021 and 3.2%

Mortgages 545

Mortgages Fixed-rate mortgage Banks Industrial 545

Housing Wire

AUGUST 7, 2023

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. Independent mortgage bankers use lines of credit to fund all of their loans and therefore must sell them promptly on the secondary mortgage market.

Closing 344

Closing Fixed-rate mortgage Debt-to-income ratio Lending 344

Housing Wire

AUGUST 26, 2021

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.91%.

Fixed-rate mortgage 464

Fixed-rate mortgage Mortgages Loans Construction 464

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. Mortgage rates On the day Broeksmit addressed the crowd in Philadelphia, mortgage rates were north of 7.7%

Fixed-rate mortgage 364

Fixed-rate mortgage Banks Lending Mortgages 364

Housing Wire

APRIL 6, 2023

Mortgage rates fell again this week, but the primary cause was not the banking crisis fiasco. According to Freddie Mac ’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage declined to 6.28% as of April 4, down from 6.32% the previous week. It was the expectation that the U.S.

Mortgages 457

Mortgages Fixed-rate mortgage Investor Loans 457

Housing Wire

JUNE 14, 2023

The Federal Reserve (Fed) maintained the federal funds rate in the 5% to 5.25% range on Wednesday, following 10 consecutive hikes that brought rates to a level never seen since 2007. The Fed imposed its fastest series of rate increases since the 1980s, but it wants to avoid over-tightening and causing a significant recession. “In

Banks 368

Banks Fixed-rate mortgage Mortgages Investor 368

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

OCTOBER 14, 2021

Sam Khater, Freddie Mac’s chief economist, said in a statement that “as inflationary pressure builds due to the ongoing pandemic and tightening monetary policy, we expect rates to continue a modest upswing.” Treasury bonds and mortgage-backed securities. Presented by: Black Knight. for the week ending Oct.

Fixed-rate mortgage 384

Fixed-rate mortgage Mortgages Lending Banks 384

Housing Wire

SEPTEMBER 23, 2021

HousingWire spoke to Sage Nichols about some of the current trends and technology in mortgage underwriting and how CoreLogic’s Complete Collateral is helping underwriters work more efficiently. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.90%. Mortgage loan application volume grew by 4.9%

Mortgages 441

Mortgages Fixed-rate mortgage Construction Banks 441

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. Freerateupdate.com – which ranked sixth as the fastest-growing mortgage lender on Inc. The companies are U.S.-based,

Mortgages 359

Mortgages Loan Officer Fixed-rate mortgage Loans 359

Housing Wire

JULY 3, 2023

PrimeLending , a Texas-based retail mortgage bank, aims to expand its market share by growing within its existing footprint in a margin-thinning environment. PrimeLending, led by president and CEO Steve Thompson, ranked as the 34th largest mortgage lender in the first quarter of 2023, with an estimated origination volume of $1.73

Loan Officer 335

Loan Officer Marketing Pre-approval Fixed-rate mortgage 335

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 361

Fixed-rate mortgage Principal Banks Loans 361

Housing Wire

APRIL 7, 2023

Musk went on to comment that the rise in defaults among commercial and residential loans could “hammer” banks. This remark comes on the heels of the collapse of Silicon Valley Bank on March 10, the second-biggest bank failure in U.S. When this back and forth was unfolding, mortgage demand rose 2.9%

Commercial 335

Commercial Banks Fixed-rate mortgage Residential 335

Housing Wire

OCTOBER 19, 2022

A doubling of 30-year fixed rate mortgage rates, shrinking profit margins and a risk of recession presents a challenging environment for independent mortgage banks (IMBs), but smaller IMBs are better positioned to weather challenges, claimed the Community Home Lenders of America (CHLA), a lobby group that represents smaller mortgage lenders.

VA loan 359

VA loan FHA loan Fixed-rate mortgage Banks 359

Housing Wire

OCTOBER 28, 2021

Mortgage rates are also rising, but purchase demand remains firm, showing that latent purchase demand exists among consumers,” he added. Last week, the average 30-year-fixed mortgage rate slightly came in at 3.09%, while a year ago today the 30-year fixed-rate mortgage averaged 2.81%.

Mortgages 471

Mortgages Fixed-rate mortgage Banks Development 471

Housing Wire

JULY 22, 2021

The average 30-year fixed-rate mortgage sank 10 basis points to 2.78% for the week ending on July 22, continuing several weeks of declines , according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. central bank plans to continue its asset purchases until there is substantial progress on jobs.

Mortgages 471

Mortgages Fixed-rate mortgage Investor Technology 471

Housing Wire

FEBRUARY 9, 2022

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, mortgage rates continued to climb “as the Federal Reserve and other key global central banks responded to growing inflationary pressures and signaled that they will start to remove accommodative policies.”. the previous week.

Fixed-rate mortgage 375

Fixed-rate mortgage Loans Mortgages Banks 375

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.

Equity 419

Equity Lending Banks Loans 419

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 463

Fixed-rate mortgage Mortgages Equity Lending 463

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 352

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 352

Housing Wire

FEBRUARY 10, 2021

Perry brings 25 years of legal experience in the financial services industry, with expertise in fair housing and community development. Nunnink will lead efforts to create improvements for renters and the rental housing industry and work across multifamily to elevate diversity, equity and inclusion principles throughout the division.

Equity 523

Equity Fixed-rate mortgage Investor Development 523

Housing Wire

MAY 19, 2022

Purchase mortgage rates this week averaged 5.25%, down five basis points from a week ago , as some individuals put the American homeownership dream on standby due to higher rates and surging home prices, according to the latest Freddie Mac PMMS. Another index shows rates at a higher mark.

Mortgages 455

Mortgages Fixed-rate mortgage Banks Loans 455

Housing Wire

OCTOBER 13, 2022

The financial chaos that sparked the savings and loan crisis of the 1980s, leading to a government bailout, now haunts the independent mortgage banking market this Halloween season — and beyond. The pressure cooker prompting that dire prediction is being heated by persistent inflation and rising interest rates. Storm Brewing.

Mortgages 355

Mortgages Marketing Banks Loans 355

Housing Wire

NOVEMBER 10, 2023

The 30-year, conventional fixed mortgage rate hit 7.48% on Friday, down from 7.55% a month ago, HousingWire ’s Mortgage Rates Center showed. What’s going on with mortgage rates? “So the fact that the Fed didn’t raise rates, the market rushed to say, ‘well, rates are going to get cut.’

Mortgages 413

Mortgages Fixed-rate mortgage Loans Banks 413

Housing Wire

MAY 25, 2023

The debt limit fight between the Republican-controlled House of Representatives and President Joe Biden’s White House is adding pressure to a shrinking mortgage market. Freddie Mac ‘ s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage averaged 6.57% as of May 25, up 18 basis points from last week’s 6.39%.

Mortgages 373

Mortgages Fixed-rate mortgage Investor Loans 373