Housing Wire

AUGUST 19, 2021

The average 30-year fixed-rate mortgage declined slightly to 2.86% for the week ending in August 19, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates rose to 2.87% , after six consecutive weeks of mortgage rate declines.

Mortgages 508

Mortgages Fixed-rate mortgage Banks Finance 508

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. Family members or friends can become a non-occupant co-borrower on a mortgage to help borrowers take out a loan if they have poor credit, limited employment history or a high debt balance.

Loan Officer 409

Loan Officer Mortgages Fixed-rate mortgage Loans 409

Housing Wire

SEPTEMBER 27, 2023

Homebuyers faced surging mortgage costs, fees and monthly payments in 2022 amid a tightening monetary policy designed to combat persistent inflation. “These trends are likely to continue given further increases in interest rates in 2023.” At Mortgage News Daily , it was at 7.50%. million in 2022. million in 2021.

Debt-to-income ratio 376

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 376

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 420

Loans Mortgages Banks Fixed-rate mortgage 420

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. Still, there has been some progress in the labor market.

Fixed-rate mortgage 485

Fixed-rate mortgage Mortgages Banks Finance 485

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 473

Fixed-rate mortgage Mortgages Equity Lending 473

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 a long-term player in the non-QM mortgage market. Redwood Trust Inc. , The Angel Oak Cos.

Mortgages 380

Mortgages Loans Residential Lending 380

Housing Wire

FEBRUARY 3, 2023

In 2020 and 2021, many homeowners refinanced, locking in historically low 30-year fixed rate mortgages. HELOCs have continued to set the stage as flexible, helpful products that provide quick access to financing for a multitude of uses including home renovations, debt consolidations or emergency purchases.

Renovation 366

Renovation Fixed-rate mortgage Equity Finance 366

Housing Wire

SEPTEMBER 22, 2022

Mortgage rates, now around 6.5%, are cooling down the housing market and triggering mass layoffs in the mortgage and real estate industries. Mortgage rates have nearly doubled to around 6.5% Mortgage rates have nearly doubled to around 6.5% Will Savage, an LO at PMC Mortgage.

Mortgages 413

Mortgages Loan Officer Pre-approval Fixed-rate mortgage 413

Housing Wire

OCTOBER 27, 2022

Mortgage rates have surged firmly above the 7% mark, making alternatives such as temporary rate buydowns and down payment assistance programs more popular, according to loan officers. A year ago at this time, rates averaged 3.14%. United Wholesale Mortgage (UWM) launched the product in August.

Mortgages 361

Mortgages Fixed-rate mortgage Loan Officer Seller concession 361

Housing Wire

NOVEMBER 10, 2023

Mortgage rates this week saw the biggest one-week decline in a year and potential homebuyers waiting for rates to drop responded, said Josh Mettle, division president and co-creator of NEO Home Loans. “I I think we were up right around 15% increase in the number of initial mortgage applications. Speaking on Nov.

Mortgages 426

Mortgages Fixed-rate mortgage Loans Banks 426

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 370

Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

APRIL 7, 2022

Purchase mortgage rates have risen faster in the last three months than at any time since May 1994, climbing ever closer to the 5% mark due to a combination of rising inflation , the war in Ukraine, and disruptions to the supply chain. A year ago at this time, rates were at 3.13%. Another index shows mortgage rates even higher.

Mortgages 383

Mortgages Fixed-rate mortgage Loans Banks 383

Housing Wire

APRIL 27, 2023

Mortgage rates are trending up ahead of the Federal Reserve’s meeting next week, with the FOMC expected to increase the federal funds rate. The prospect of lower mortgage rates for the remainder of the year should be welcome news to borrowers who are looking to purchase a home.”

Mortgages 365

Mortgages Fixed-rate mortgage Loans Closing costs 365

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%. from $490 billion in the second quarter. That represents an aggregate gain of $1.1

Equity 438

Equity Lending Banks Loans 438

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 458

Fixed-rate mortgage Mortgages Lending Sales 458

Housing Wire

OCTOBER 13, 2022

In the reflection, a mortgage executive sees faint images of the savings and loan crisis of the 1980s and 1990s. 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.

Mortgages 361

Mortgages Marketing Banks Loans 361

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 382

Fixed-rate mortgage Loans Mortgages Loan Officer 382

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 382

Fixed-rate mortgage Banks Lending Mortgages 382

Housing Wire

NOVEMBER 3, 2021

The central bank’s Federal Open Markets Committee said Wednesday that thanks to “substantial further progress” the economy has made, it will reduce the pace of its $120 billion in monthly purchases by $10 billion for Treasury securities and $5 billion for agency mortgage-backed securities. today to about 4% by the end of 2022.

Fixed-rate mortgage 448

Fixed-rate mortgage Banks Mortgages Finance 448

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 522

Mortgages Marketing Lending Loans 522

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 352

Closing Fixed-rate mortgage Debt-to-income ratio Lending 352

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 449

Mortgages Loan Officer Loans Equity 449

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 363

Mortgages Loan Officer Banks Lending 363

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. Mortgage executives project that number to remain steady or even tick up in the third quarter.

Mortgages 393

Mortgages Equity Loans Seller concession 393

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 344

Loan Officer Marketing Pre-approval Fixed-rate mortgage 344

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 379

Fixed-rate mortgage Principal Banks Loans 379

Marco Santarelli

APRIL 12, 2024

The landscape of US mortgage rates is a dynamic and ever-evolving arena, influenced by a myriad of economic factors and policy decisions. Current Trends and Forecasts for Next 5 Years Recent analyses and expert forecasts suggest a period of fluctuation in mortgage rates in the United States. by the end of 2025.

Mortgages 116

Mortgages Fixed-rate mortgage Loans Closing costs 116

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

SEPTEMBER 22, 2022

The senior debt offering in the securitization was oversubscribed, with participation across mutual funds, credit funds, banks and asset managers,” Unlock’s announcement of the deal states. The interest rate for a 30-year, fixed-rate mortgage averaged 6.47% on Tuesday, Sept. 21, according to Mortgage News Daily.

Equity 367

Equity Marketing Fixed-rate mortgage Finance 367

Housing Wire

SEPTEMBER 20, 2023

Most Fed officials last June had penciled in two more rate rises this year, one in July and one more in the fall. Most investors are already wondering what it would take for the central bank to lift rates again later this year. Today’s decision not to raise rates will likely influence credit markets.

Fixed-rate mortgage 416

Fixed-rate mortgage Mortgages Investor MLS 416

Housing Wire

JULY 26, 2023

While the markets have already “priced in” this rate hike, which was widely expected, most investors are already wondering what it would take for the central bank to lift rates again later this year. For the housing market, that likely means a few more months with mortgage rates above 6%.

Fixed-rate mortgage 369

Fixed-rate mortgage Investor Mortgages Banks 369

Housing Wire

FEBRUARY 10, 2021

She previously advised on solutions for complex corporate finance transactions with firms such as JPMorgan Chase. 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 526

Equity Fixed-rate mortgage Investor Development 526

Housing Wire

JANUARY 25, 2022

The Community Home Lenders Association (CHLA), which represents small and mid-sized IMBs, just sent a letter to the Federal Housing Finance Authority (FHFA) , asking for tweaks to FHFA’s recently announced fee hikes on second home and high balance Fannie Mae and Freddie Mac loans. Are these proponents referring to banks?

Marketing 353

Marketing Fixed-rate mortgage Banks Loans 353

Housing Wire

MAY 3, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 385

Equity Fixed-rate mortgage Principal Mortgages 385

Housing Wire

JUNE 1, 2022

Between February 2020 and January 2022, we witnessed something in the mortgage industry that we thought we’d never see — 30-year fixed-rate mortgages under 3.5%. These rates drew a record number of people refinancing their homes, with cash-out refinances reaching $1.2 trillion in 2021. homeowners.

Equity 384

Equity Fixed-rate mortgage Principal Loans 384

Housing Wire

SEPTEMBER 9, 2022

The pace of mortgage-backed securities (MBS) issuance in the nonagency market slowed considerably in July and August as rising interest rates and Federal Reserve MBS-purchase policy have combined to dampen the momentum exhibited in the private-label space in 2021 and over the first half of this year.

Marketing 364

Marketing Fixed-rate mortgage Bankruptcy Mortgages 364