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 370

Mortgages Loan Officer Fixed-rate mortgage Loans 370

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 404

Loan Officer Mortgages Fixed-rate mortgage Loans 404

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 423

Loans Mortgages Banks Fixed-rate mortgage 423

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 393

Fixed-rate mortgage Mortgages Lending Banks 393

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 370

Fixed-rate mortgage Closing costs Lending Banks 370

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 402

Mortgages Debt-to-income ratio Banks Fixed-rate mortgage 402

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 416

Fixed-rate mortgage Loans Mortgages Loan Officer 416

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 382

Mortgages Fixed-rate mortgage Technology Loans 382

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 370

Mortgages VA loan Fixed-rate mortgage Banks 370

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

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 370

Mortgages Loan Officer Banks Lending 370

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 407

Fixed-rate mortgage Banks Lending Mortgages 407

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 381

Renovation Fixed-rate mortgage Equity Finance 381

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 364

Banks Fixed-rate mortgage MLS Lending 364

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 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 382

Banks Fixed-rate mortgage Mortgages Investor 382

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 406

Fixed-rate mortgage Principal Banks Loans 406

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 424

Equity Lending Fixed-rate mortgage Loans 424

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 442

Industrial Loan Officer Fixed-rate mortgage Lending 442

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 393

Mortgages Equity Loans Seller concession 393

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 376

Equity Lending Loans Banks 376

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 370

Equity Marketing Debt-to-income ratio Lending 370

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 84

Fixed-rate mortgage Banks Lending Mortgages 84

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 381

Equity Marketing Fixed-rate mortgage Finance 381

Realty Biz

AUGUST 12, 2023

Buying a home is a significant decision, and understanding mortgage terms can make the process smoother. Here are some key terms and their definitions: Mortgage : A loan specifically used to purchase real estate. Fixed-Rate Mortgage : A mortgage in which the interest rate remains the same for the entire term of the loan.

Purchase and sale agreement 97

Purchase and sale agreement Mortgages Pre-approval Title search 97

Marco Santarelli

MARCH 31, 2024

Generally, there is an inverse relationship between the two: as interest rates rise , house prices tend to fall , and vice versa. This phenomenon occurs because changes in interest rates directly affect the cost of mortgage payments. Additionally, the type of mortgage rates—fixed or variable—can also play a role.

Fixed-rate mortgage 105

Fixed-rate mortgage Lending Mortgages Banks 105

Lighter Side of Real Estate

APRIL 6, 2022

You’re probably well aware that mortgage rates are rising. So you might be searching for a way to maintain the buying power you had when rates were a little lower, or just a competitive edge so you can offer a little more for the houses you bid on. The truth is, an adjustable rate mortgage can lead to trouble.

Mortgages 140

Mortgages Fixed-rate mortgage Banks Lending 140

Housing Wire

OCTOBER 22, 2021

This week’s HW+ spotlight features Karen Mayfield, head of National Retail Sales at Wyndham Capital Mortgage. In her role, Mayfield is tasked with expanding on the company’s digital roots into the retail mortgage environment. So why do I need an expensive loan officer? Homebuyers still want to work with people.

Loan Officer 365

Loan Officer Fixed-rate mortgage Loans Industrial 365

Realty Biz

JUNE 9, 2021

One area to keep a close eye on is whether the current surge of inflation will also bring a surge in mortgage interest rates. There is a very good reason to watch this metric because the rate of inflation traditionally remains below the rate for a 30-year mortgage. Banks lend money to make a profit.

Mortgages 120

Mortgages Fixed-rate mortgage Banks Lending 120

Marco Santarelli

DECEMBER 2, 2023

Many people who are looking to buy a home in the US are wondering if they will ever see mortgage rates as low as 3% again. After all, just a year ago, the average 30-year fixed-rate mortgage was around 3.1% , according to Freddie Mac. But since then, mortgage rates have been steadily rising.

Mortgages 105

Mortgages Fixed-rate mortgage Investor MLS 105

Marco Santarelli

APRIL 1, 2024

The landscape of the US housing market is ever-evolving, and with it, the dynamics of mortgage rates. As we navigate through 2024 , a noticeable trend has been the rising mortgage rates, which have become a topic of interest for potential homebuyers, investors, and economists alike.

Mortgages 52

Mortgages Fixed-rate mortgage Lending Banks 52

HomeLight

DECEMBER 27, 2023

Speaking with a mortgage lender — or several — before you buy a home shows that you’re a serious consumer, but talking with one of these experts before you sell a house also has several benefits. That starts with determining what it will take to pay off your mortgage. Learn More 1.

Pre-approval 109

Pre-approval Mortgages Equity Principal 109

Realty Biz

FEBRUARY 15, 2023

If you’ve been watching the housing markets lately, you’ve noticed a startling trend: mortgage rates have been rising seemingly out of control over the past few months. Where have these rate hikes come from, and what do they mean for the larger real estate industry in general? But what, exactly, is going on?

Industrial 93

Industrial Mortgages Lending Fixed-rate mortgage 93

Marco Santarelli

OCTOBER 14, 2023

If you are thinking about buying a home or refinancing your current mortgage , you might be wondering how interest rates have changed over time and what factors affect them. In this blog post, we will take a look at the historical trends of mortgage rates in the U.S. How Have Mortgage Rates Changed by Year Since 1950?

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Debt-to-income ratio Mortgages Fixed-rate mortgage Construction 88

Housing Wire

DECEMBER 30, 2022

“It’s going to be competitive — thin margins, little business and LOs getting out of the industry,” Dave Krichmar, banker at Legend Lending Corporation, said of the mortgage industry in 2023. Mortgage products expected to get love . Now you need to work on who will be buying in this market.

Loans 402

Loans Renovation Construction Mortgages 402