Housing Wire

DECEMBER 28, 2023

As we prepare to bid adieu to 2023, mortgage rates this week again stayed below seven percent. The 30-year fixed-rate mortgage averaged 6.61% as of Dec. 28, a slight decrease from the 6.67% rate recorded on Dec. 21 according to Freddie Mac ‘s Primary Mortgage Market Survey released on Thursday.

Fixed-rate mortgage 491

Fixed-rate mortgage Mortgages Finance Equity 491

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

JANUARY 6, 2021

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. In the final week of the year, the 15-year fixed-rate mortgage averaged 2.19%, a full point lower than the same period in 2019.

Fixed-rate mortgage 525

Fixed-rate mortgage Mortgages Loan Officer Loans 525

Housing Wire

FEBRUARY 3, 2022

Amid higher rates, lower volumes, and fiercer competition , Santander Bank decided it will stop originating residential mortgages and home equity loans in the United States. Santander’s decision regarding mortgage and home equity is another sign that the good times of the U.S. mortgage industry are in the past.

Banks 441

Banks Mortgages Fixed-rate mortgage Equity 441

Housing Wire

APRIL 10, 2025

Unlike existing owners, these buyers have no low-rate loan to protect, no equity to leverage, and no fallback. The 30-year fixed-rate mortgage is a cornerstone of American housing finance, but it wasnt built for flexibility. Yet while the U.S. So why hasnt the U.S. moved forward? It was built for stability.

Design 224

Design Marketing Fixed-rate mortgage Finance 224

Housing Wire

SEPTEMBER 24, 2021

Another bill joined the fray, and its sponsors propose creating a new 20-year-fixed-rate mortgage program through Ginnie Mae. The move could “allow qualified homebuyers to build equity-and wealth- at twice the rate of a conventional 30-year mortgage.”.

Mortgages 500

Mortgages Equity Fixed-rate mortgage Development 500

Housing Wire

FEBRUARY 15, 2024

Escrow accounts also frequently handle mortgage insurance payments as conventional loan borrowers with less than 20% equity in their homes are required to have mortgage insurance. Federal Housing Administration (FHA) borrowers must pay mortgage insurance for the life of their loan regardless of equity levels.

Fixed-rate mortgage 491

Fixed-rate mortgage Equity Mortgages Loans 491

Housing Wire

SEPTEMBER 27, 2023

. “The higher interest rate environment had profound effects on the mortgage market in 2022, with borrowers paying much more in monthly payments,” CFPB Director Rohit Chopra said in a statement. “These trends are likely to continue given further increases in interest rates in 2023.”

Debt-to-income ratio 430

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 430

Housing Wire

DECEMBER 11, 2023

After hitting a 23-year high of 8% in October, mortgage rates have cooled down to the lowest levels since July. There is a lot more inquiry for home equity line credit. People are afraid to give up that rate that has a three in front of their mortgage,” said Steinway. We are definitely seeing an uptick in demand.

Mortgages 458

Mortgages Fixed-rate mortgage Equity Loans 458

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

Equity 432

Equity Lending Fixed-rate mortgage Loans 432

Housing Wire

MARCH 2, 2023

Mortgage rates are surging again due to sustained economic growth and continued inflation, eclipsing 7% on Thursday. The 30-year fixed-rate mortgage on Thursday, March 2 touched 7.10% , up 16 basis points from 6.94 There are two reasons for this price stability—record low inventory and record high equity.

Mortgages 441

Mortgages Fixed-rate mortgage Equity Loan Officer 441

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 397

Equity Fixed-rate mortgage Principal Mortgages 397

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

JANUARY 4, 2023

That’s because costs for borrowers were higher, reflecting the mortgage market’s response to the Federal Reserve ‘s tightening monetary policy. The MBA estimates the 30-year fixed-rate mortgages with conforming loan balances ($647,200 or less) increased to 6.58% for the week ending December 30 from 6.42% in the previous week.

Mortgages 527

Mortgages Fixed-rate mortgage Loans Equity 527

Housing Wire

APRIL 22, 2021

A year after issuing its first Single-Family Green Mortgage Backed Security on Earth Day 2020, Fannie Mae has now completed 25 transactions for the program, totaling $167 million in bonds backed by mortgages on newly constructed, energy-efficient homes. but are well-established in Europe.

Fixed-rate mortgage 411

Fixed-rate mortgage Finance Investor Loans 411

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. So, it’s imperative to speak with a lender.

Renovation 384

Renovation Fixed-rate mortgage Equity Finance 384

Housing Wire

JANUARY 19, 2024

Courtesy of Fannie Mae Refinance mortgage origination volume will remain subdued as about 90% of outstanding Fannie Mae single-family conventional 30-year fixed rate mortgage loans currently have a note rate below 6%. “So, Of the total $1.98 trillion origination volume in 2024, $1.5 trillion in 2023.

Mortgages 541

Mortgages Fixed-rate mortgage Sales Equity 541

Housing Wire

JUNE 15, 2022

In 2021, more than 90% of borrowers who closed a loan with fintech mortgage lender Neat Loans opted for a 30-year fixed-rate mortgage. In the most recent Freddie Mac PMMS Mortgage Survey, which tracks purchase mortgage rates, the 30-year fixed-rate mortgage last week averaged 5.23% while the 5-year ARM averaged 4.12%. “It’s

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

AUGUST 29, 2024

In the second quarter, purchase loans were the most common type of mortgage in the U.S., of all mortgages. Refis followed with 33.8%, and home-equity lending made up 17.7%. to about 546,000; and home equity line of credit (HELOC) increased 26.5% accounting for 48.5% Purchase loan activity jumped 32.7% to about 283,000.

Mortgages 397

Mortgages Fixed-rate mortgage Lending Residential 397

Housing Wire

DECEMBER 9, 2020

House X negotiates the home purchase contract and enables its customers to make more informed decisions through its proprietary House X Report and offers incentives including a 1% discounted mortgage for the first 12 months of “a special 30-year fixed-rate mortgage.”

Fixed-rate mortgage 397

Fixed-rate mortgage Equity Residential Technology 397

Housing Wire

JANUARY 12, 2024

As rates are currently declining, it makes sense for them to get a new mortgage. The lock-in effect is still real but listings are starting to tick up Declining mortgage rates appear to have helped the inventory situation somewhat. The 30-year fixed-rate mortgage averaged 6.66% as of Jan.

Fixed-rate mortgage 473

Fixed-rate mortgage Mortgages Equity Finance 473

Housing Wire

APRIL 14, 2022

.” The gulf between the average 30-year-fixed rate conforming mortgage and a 30-year jumbo, a product for wealthier borrowers, widened to 42 basis points, according to Black Knight ‘s Optimal Blue OBMMI pricing engine, which considers refinancings and additional data from the Mortgage Bankers Association (MBA).

Mortgages 421

Mortgages Fixed-rate mortgage Banks Renovation 421

Housing Wire

JANUARY 5, 2024

Homeowners : Depending on the type of mortgage they have and their financial goals, rising or falling interest rates will affect homeowners differently. Refinancing into a fixed-rate mortgage may provide stability and consistency, although homeowners should be prepared for tighter lending restrictions.

Fixed-rate mortgage 441

Fixed-rate mortgage Agents Marketing Lending 441

Housing Wire

JANUARY 10, 2022

The Federal Reserve has announced plans to gradually “taper” its supportive monetary policy: Net acquisitions of agency mortgage-backed securities are expected to cease by the end of March and the Federal Open Market Committee has signaled possibly three 25-basis point increases in the federal funds target by yearend 2022.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

FEBRUARY 6, 2023

Compared to the same time last year, the monthly mortgage payment on an averaged-priced home is 40% higher, or nearly $600 more, using a 20% down payment on a 30-year fixed-rate mortgage. On the flip side, temporary rate buydowns remained a relatively small share of originations.

Equity 384

Equity Fixed-rate mortgage Mortgages Loans 384

Housing Wire

MARCH 23, 2022

“The jump in rates comes as markets moved to price in a much faster pace of rate hikes, as well as expectations of fewer MBS purchases from the Federal Reserve ,” Joel Kan, associate vice president of economic and industry forecasting for the MBA, said in a statement. of total applications last week, from 44.8% the previous week.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Equity 370

Housing Wire

SEPTEMBER 16, 2022

UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage. Rocket said that a homebuyer with a $400,000, 30-year fixed rate mortgage with 5.75% interest would generally pay about $2,334 in principal and interest.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

Housing Wire

FEBRUARY 10, 2021

Freddie Mac appointed Pamela Perry as vice president of single-family equitable housing, and Amanda Nunnink as vice president of equity in multifamily housing. Freddie Mac announced Wednesday the creation of new leadership roles in order to address housing equality in single- and multifamily housing businesses. Pamela Perry.

Fixed-rate mortgage 370

Fixed-rate mortgage Equity Investor Development 370

Housing Wire

APRIL 8, 2021

Should the property increase in value over time, then you, in turn, will have built up more equity. The equity built from owning a home can extend far beyond the homeowners themselves. Like the financial equity you may build when you own a home, you’re building emotional equity for yourself and your family.

Equity 410

Equity Fixed-rate mortgage Principal Mortgages 410

Housing Wire

FEBRUARY 11, 2022

Some mortgage rate indices topped 4% on Thursday, blowing past predictions that rates might reach those levels by the end of 2022. Economists had predicted rates would rise as the overall economy stabilized. Other indices put mortgage rates even higher.

Industrial 384

Industrial Mortgages Fixed-rate mortgage Loan Officer 384

Housing Wire

JULY 19, 2024

Late last month, Ginnie Mae released a term sheet for one of the most anticipated new developments for the reverse mortgage industry — a new Home Equity Conversion Mortgage (HECM)-backed Securities (HMBS) product referred to as “ HMBS 2.0.”

Development 428

Development Industrial Mortgages Fixed-rate mortgage 428

Housing Wire

AUGUST 24, 2023

Freddie Mac‘s Primary Mortgage Market Survey, which focuses on conventional and conforming loans with a 20% down payment, shows the 30-year fixed rate averaged 7.23% as of August 24, up from last week ’s 7.09%. By contrast, the 30-year fixed-rate mortgage was at 5.55% a year ago at this time.

Mortgages 370

Mortgages Fixed-rate mortgage Banks Investor 370

Keeping Current Matters

MAY 20, 2021

The level of equity homeowners have is at an all-time high. Census , over 38% of owner-occupied homes are owned free and clear, meaning they don’t have a mortgage. Those with a mortgage are seeing their equity skyrocket too. Home Equity Report from ATTOM Data Solutions : “17.8 According to the U.S.

Equity 322

Equity Principal Fixed-rate mortgage Loans 322

Keeping Current Matters

FEBRUARY 4, 2021

In today’s housing market, there are clear financial benefits to owning a home: increasing equity , the chance to build your net worth , and appreciating home values, just to name a few. As soon as you buy a home, your monthly housing costs begin to work for you as forced savings in the form of equity.

Fixed-rate mortgage 335

Fixed-rate mortgage Equity Finance Mortgages 335

Housing Wire

JUNE 6, 2022

They will also work together to develop new products, such as a home equity line of credit (HELOC) and piggyback products. “We In early April, the company launched a cryptocurrency-backed 30-year fixed-rate mortgage product for borrowers to use bitcoin and/or ether as collateral.

Fixed-rate mortgage 397

Fixed-rate mortgage Lending Technology Loans 397

Housing Wire

DECEMBER 8, 2020

LIBOR is commonly used in setting the interest rate for many adjustable-rate consumer financial products and its end will affect adjustable and variable rate loans, reverse mortgages, credit cards, home equity loans, and adjustable-rate mortgages. How are lenders proceeding, then?

Fixed-rate mortgage 418

Fixed-rate mortgage Loans Mortgages Equity 418

Housing Wire

AUGUST 25, 2022

During the second-quarter earnings season, executives from publicly traded mortgage lenders detailed their forays into jumbo loans, non-qualified mortgages, reverse mortgages, home equity products and even personal loans. ” Tapping that equity. ” Just a little less vanilla. .”

Mortgages 397

Mortgages Equity Loans Seller concession 397