Housing Wire

JANUARY 18, 2024

Mortgage rates continued their descent this week to mark their lowest level since May 2023, welcome news for homebuyers who have been waiting on the sidelines for rates to drop. The 30-year fixed-rate mortgage averaged 6.6% by the end of 2024 from the current federal funds rate range of 5.25%-5.5%.

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Fixed-rate mortgage Mortgages New Construction Construction 529

Housing Wire

FEBRUARY 1, 2024

Mortgage rates continued their downward plunge this week as inflation keeps decelerating. The 30-year fixed-rate mortgage averaged 6.63% as of Feb. 1, a decrease from last week’s figure of 6.69%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

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Mortgages Fixed-rate mortgage MLS Staging 462

Housing Wire

JUNE 16, 2022

neighborhood, housing market, Fall, homes, new house sales, forbearance. 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.

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Marketing Fixed-rate mortgage Loan Officer Pre-approval 417

Housing Wire

MARCH 24, 2022

And there’s good reason to believe mortgage rates will be in the 5% range before too long. According to data from Freddie Mac ‘s PMMS survey, mortgage rates on the traditional 30-year fixed-rate mortgage jumped 26 basis points to 4.42% this week, with increases across all loan types.

Fixed-rate mortgage 462

Fixed-rate mortgage Mortgages Banks Loans 462

Housing Wire

JANUARY 25, 2024

Mortgage rates stabilized in the past week but remain close to the narrow range observed since the start of this month. The 30-year fixed-rate mortgage averaged 6.69% as of Jan. 25, an increase from last week’s figure of 6.60%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 417

Mortgages Fixed-rate mortgage MLS Banks 417

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.

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Mortgages Marketing Banks Loans 370

Housing Wire

SEPTEMBER 29, 2023

The loan officers that Scott Groves talks to are struggling. Mortgage rates are around 7.7%, the highest levels in over 20 years, and LOs across America are having to reset their strategies. It’s no longer about just outlasting a bad market for a couple of months. “I Really struggling.

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Loan Officer Mortgages Fixed-rate mortgage Loans 407

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 370

Marketing Fixed-rate mortgage Banks Loans 370

Housing Wire

SEPTEMBER 30, 2021

Sam Khater, Freddie Mac’s chief economist, said in a statement that rates rose across all loan types, in conjunction with the 10-year U.S. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.88%. The 15-year fixed-rate mortgage averaged 2.28%, up from last week when it averaged 2.15%.

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Fixed-rate mortgage Mortgages Banks Loans 487

Housing Wire

APRIL 14, 2022

Justin Woodward has experienced the best and the worst of the mortgage industry in only 18 months. A seasoned retail and commercial banking salesman in Fort Wayne, Indiana, the 39-year-old Woodward joined Interfirst Mortgage as a loan officer in October 2020 after a recommendation from an old college friend.

Mortgages 521

Mortgages Marketing Lending Loans 521

Housing Wire

OCTOBER 19, 2022

Mortgage demand continued its downward trend last week, reaching the lowest level in 25 years, according to the latest survey from the Mortgage Bankers Association (MBA). Mortgage applications are now into their fourth month of declines, dropping to the lowest level since 1997.”. But another index measures rates even higher.

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Fixed-rate mortgage Mortgages Banks Loans 395

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.

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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.

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Equity Lending Banks Loans 462

Housing Wire

SEPTEMBER 22, 2022

New York-based Unlock Technologies , a fintech operating in the shared-equity market, and real estate investment firm Saluda Grade , have closed a $180 million private-label securitization (PLS) backed entirely by Unlock-originated residential home-equity agreements (HEAs). 21, according to Mortgage News Daily.

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Equity Marketing Fixed-rate mortgage Finance 383

Housing Wire

FEBRUARY 10, 2022

The average 30-year-fixed rate mortgage climbed to 3.69% for the week ending Feb. It’s the highest level since the start of the pandemic, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.73%. Mortgage applications decreased 8.1%

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Fixed-rate mortgage Mortgages Loans Banks 407

Housing Wire

JANUARY 27, 2022

The average 30-year-fixed rate mortgage declined one basis point from the week prior to 3.55% during the week ending Jan. 27, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.77%. Sponsored Video. for the week ending Jan.

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Fixed-rate mortgage Mortgages Banks Loans 454

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.”

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Equity Marketing Debt-to-income ratio Lending 370

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%.

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Fixed-rate mortgage Mortgages Lending Banks 505

Housing Wire

OCTOBER 26, 2023

According to Spector, many of the borrowers who are locked in a low, fixed-rate mortgage are incentivized to stay in their homes. Executives see opportunities for the consumer-direct channel to offer customers refinances when interest rates fall. Pennymac’s total loan acquisitions and originations reached $25.1

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Fixed-rate mortgage Principal Banks Loans 417

Housing Wire

MARCH 3, 2022

Despite the global turmoil sparked by Russia’s recent invasion of Ukraine and the volatility in interest rates that has followed, the mortgage servicing rights (MSR) market remains on track to record one of its most dynamic runs in decades, according to multiple market experts.

Marketing 370

Marketing Fixed-rate mortgage Mortgages Loans 370

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.

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Fixed-rate mortgage Closing costs Lending Banks 370

Housing Wire

AUGUST 17, 2023

The top mortgage lender on the Inc. 5000 list was VA Wholesale Mortgage , which specializes in offering home loans to veterans and active duty military members. Founded in 2019, the Virginia-based lender saw a 2,230% three-year growth rate. Zap Mortgage (no.294) Trius Lending Partners (no.678), 678), InstaLend (no.769)

Mortgages 370

Mortgages Loan Officer Fixed-rate mortgage Loans 370

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 407

VA loan FHA loan Fixed-rate mortgage Banks 407

Housing Wire

FEBRUARY 3, 2022

The average 30-year-fixed rate mortgage remained flat for the third consecutive week at 3.55% for the week ending Feb. 3, reflecting the impacts of the Omicron variant in the economy, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.73%.

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Fixed-rate mortgage Mortgages Banks Residential 395

Housing Wire

SEPTEMBER 16, 2021

Mortgage rates have been around that mark for roughly two months, leading economists at Freddie Mac to liken it to “Groundhog Day.” 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 It averaged about 2.87% a year ago.

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Fixed-rate mortgage Mortgages Lending Loans 475

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 462

Mortgages Fixed-rate mortgage Investor Loans 462

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.

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Renovation Fixed-rate mortgage Equity Finance 383

Housing Wire

MARCH 17, 2022

As the Federal Reserve raised short-term rates for the first time in years, mortgage rates climbed 31 basis points to 4.16%, according to data from Freddie Mac ‘s PMMS survey. The 30-year fixed-rate mortgage exceeded four percent for the first time since May of 2019,” said Sam Khater, Freddie Mac’s chief economist.

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Fixed-rate mortgage Mortgages Technology Banks 427

Housing Wire

OCTOBER 7, 2021

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. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.87%.

Mortgages 481

Mortgages Fixed-rate mortgage Banks Development 481

Housing Wire

DECEMBER 7, 2022

Industry analysts say they expect loan volume to remain depressed for at least the next two quarters, meaning it will be a long winter for loan originators. The recent declines in mortgage rates brought a glimmer of hope that borrowers might be developing more of a stomach for home loans. this past week.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Loan Officer 370

Housing Wire

OCTOBER 16, 2023

The market is rocky, margins are tight. 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. And warehouse lines.

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Fixed-rate mortgage Banks Lending Mortgages 417

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 427

Mortgages Fixed-rate mortgage Loans Banks 427

Housing Wire

APRIL 5, 2022

Atlanta-based non-QM wholesale lender Angel Oak Mortgage Solutions has updated its rate lock policy to a 30-day lock period due to the fast-rising interest rates landscape. Lenders offer borrowers to lock the mortgage rates for a period between the offer and the closing date, which vary according to their policies.

Marketing 407

Marketing Investor Loans Banks 407

Housing Wire

APRIL 14, 2022

What happens when the Federal Reserve begins pulling back in a serious way from the mortgage-backed securities (MBS) market that it has helped to prop up through billions of dollars in bond purchases since the start of the pandemic in 2020 — to the point where it now holds a $2.7 trillion agency MBS portfolio? The Feds existing $2.7

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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.

Mortgages 383

Mortgages Fixed-rate mortgage Technology Loans 383

Housing Wire

NOVEMBER 4, 2021

The average 30-year-fixed rate mortgage dropped to 3.09 % during the week ending Nov. 4, down from 3.14% the week prior , according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed-rate mortgage averaged 2.78 %. A year ago at this time, it averaged 2.32%.

Fixed-rate mortgage 437

Fixed-rate mortgage Mortgages Banks Industrial 437

Housing Wire

MARCH 31, 2022

Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refis and data from the Mortgage Bankers Association , reported that rates on Wednesday averaged 4.81%, up about 10 bps from a week prior. And several loan officers who spoke to HousingWire this week said they had clients lock rates in the 5.1%

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Mortgages Fixed-rate mortgage Loan Officer Banks 509