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 482

Fixed-rate mortgage Mortgages Equity Lending 482

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.

Equity 388

Equity Marketing Fixed-rate mortgage Finance 388

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. The decision will not impact the commercial mortgage business. Inside Mortgage Finance reported that Santander residential production totaled $2.7

Banks 451

Banks Mortgages Fixed-rate mortgage Equity 451

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.”. The bill is sponsored by Sens.

Mortgages 506

Mortgages Equity Fixed-rate mortgage Development 506

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. When interest rates hovered around 8%, it really hurt affordability,” Steinway said. HousingWire’s Mortgage Rates Center showed 30-year conforming rates at 6.998% on Monday.

Mortgages 468

Mortgages Fixed-rate mortgage Equity Loans 468

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 441

Debt-to-income ratio Mortgages Fixed-rate mortgage Equity 441

Housing Wire

JANUARY 4, 2023

The last week of the calendar year is usually a slow time for the mortgage industry, but 2022 was something else. Mortgage applications decreased 13.2% That’s because costs for borrowers were higher, reflecting the mortgage market’s response to the Federal Reserve ‘s tightening monetary policy.

Mortgages 528

Mortgages Fixed-rate mortgage Loans Equity 528

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 Lower mortgage rates back in January brought buyers back into the market. on Wednesday.

Mortgages 451

Mortgages Fixed-rate mortgage Equity Loan Officer 451

Housing Wire

AUGUST 29, 2024

million residential mortgage originations in the second quarter of 2024, an increase of 23.2% The increase in overall lending in Q2 came amid the Spring homebuying season and lower mortgage interest rates that dipped downward after months of increases, according to Attom ’s Q2 residential property mortgage origination report.

Mortgages 413

Mortgages Fixed-rate mortgage Lending Residential 413

Housing Wire

JANUARY 19, 2024

Fannie Mae has a rosy outlook for mortgage rates. The government sponsored enterprise is projecting that rates will drop below 6% by the end of 2024, which in turn will boost refi volumes and help thaw the existing home sales market. The ESR group expects the annualized pace of existing home sales to move up to 4.5

Mortgages 541

Mortgages Fixed-rate mortgage Sales Equity 541

Housing Wire

MARCH 29, 2023

The demand for home-equity loans, particularly home-equity lines of credit (HELOCs) as well as shared-equity investment products, is now stronger than at any time since before the global financial crisis some 15 years ago. Those 17 deals were backed by home-equity collateral valued in total at $3.9

Equity 388

Equity Lending Loans Banks 388

Housing Wire

APRIL 14, 2022

economy, it doesn’t appear that mortgage rates will be dropping below that mark anytime soon. Purchase mortgages this week averaged 5%, up 28 basis points from 4.72% a week ago , according to the latest Freddie Mac PMMS. A year ago at this time, rates were at 3.13%. Jumbos on Wednesday were locked at 4.69%.

Mortgages 430

Mortgages Fixed-rate mortgage Banks Renovation 430

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. rebranded as Rithm Capital ). Toohig said Raymond James finished the year with some $1.1 billion in 2021 to $9.6

Equity 370

Equity Marketing Debt-to-income ratio Lending 370

Housing Wire

APRIL 10, 2025

Millions of homeowners are locked into 23% mortgage rates and simply wont sell, creating a chain reaction thats grinding the entire system to a halt. But this isnt just a temporary side effect of high interest rates. homeowners hold mortgages below 4%, according to the Federal Housing Finance Agency. And while U.S.

Design 235

Design Marketing Fixed-rate mortgage Finance 235

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.” To get a better idea of the potential impact that HMBS 2.0

Development 440

Development Industrial Mortgages Fixed-rate mortgage 440

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. The way ARMs work is lenders offer lower mortgage rates for the initial three, five, seven years. The mortgage industry is different from 14 years ago.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages Loans Loan Officer 370

Housing Wire

SEPTEMBER 16, 2022

Rocket Mortgage and its wholesale arm Rocket Pro TPO will reduce homebuyers’ monthly mortgage payments by one full percentage point for the first year of their loan. Rocket Mortgage will be covering the difference in mortgage payments in the first 12 months through a special escrow account.

Mortgages 403

Mortgages Seller concession Fixed-rate mortgage Loans 403

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. Randy Howell, president of Mortgage Power Inc.

Industrial 388

Industrial Mortgages Fixed-rate mortgage Loan Officer 388

Housing Wire

MARCH 23, 2022

Interest in residential mortgage loans fell 8.1% for the week ending March 18 as mortgage rates rose to 4.5%, the highest level in years, according to the Mortgage Bankers Association ‘s latest survey. The MBA found that the refi share of mortgage activity decreased to 44.8% the previous week. the previous week.

Mortgages 370

Mortgages Fixed-rate mortgage Loans Equity 370

Housing Wire

FEBRUARY 15, 2024

Among homeowners who have a mortgage escrow account, only 52% fully understand how the account works, according to survey results released Thursday by property tax services provider LERETA. Federal Housing Administration (FHA) borrowers must pay mortgage insurance for the life of their loan regardless of equity levels.

Fixed-rate mortgage 498

Fixed-rate mortgage Equity Mortgages Loans 498

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.

Mortgages 370

Mortgages Fixed-rate mortgage Banks Investor 370

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 403

Mortgages Equity Loans Seller concession 403

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 441

Equity Lending Fixed-rate mortgage Loans 441

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 460

Mortgages Loan Officer Loans Equity 460

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 525

Mortgages Marketing Lending Loans 525

Housing Wire

MARCH 9, 2023

.” Powell’s speech had an immediate impact on the mortgage market. Interest rates on home loans, which were already ticking upward, jumped last week, and it’s adding affordability challenges to the market. Other indexes show rates even higher. Jumbo loans increased to 6.79% from 6.78% in the same period.

Mortgages 388

Mortgages Fixed-rate mortgage Land Loans 388

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 403

Equity Fixed-rate mortgage Principal Mortgages 403

Housing Wire

JANUARY 12, 2024

Nationwide, the share of homeowners with relatively low rates has fallen modestly from a record high of 92.8% homeowners with mortgages had an interest rate below 6%. To conduct this study , Redfin analyzed data from the Federal Housing Finance Agency ’s National Mortgage Database as of the third quarter of 2023.

Fixed-rate mortgage 482

Fixed-rate mortgage Mortgages Equity Finance 482

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. Horton, Lennar Corp. and NVR Inc.

Fixed-rate mortgage 427

Fixed-rate mortgage Finance Investor Loans 427

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 388

Equity Fixed-rate mortgage Principal Loans 388

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.

Loan Officer 370

Loan Officer Mortgages Fixed-rate mortgage Loans 370

Housing Wire

JUNE 6, 2024

Doug Duncan , the chief economist at Fannie Mae , believes pressures from fiscal and monetary policy have brought volatility to the secondary mortgage market, creating a “higher-for-longer” scenario in the U.S. economy that mortgage companies should be ready to face. Treasury, which brings the message to “watch for more volatility.”

Mortgages 474

Mortgages Pre-approval Equity Investor 474

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 388

Renovation Fixed-rate mortgage Equity Finance 388

Housing Wire

JANUARY 10, 2022

2021 was an extraordinary year for the housing market: mortgage rates at an all-time low, record high annual growth in single-family prices and rents, lowest foreclosure rates in a generation and the largest number of home sales in 15 years. for 30-year fixed-rate loans.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

JANUARY 5, 2024

Few things affect the real estate market more than the rise and fall of interest rates , which has a ripple effect that directly influences everything from buyer behavior to market trends. Back then, the FOMC lowered the rate to near zero, where it remained for several years.

Fixed-rate mortgage 451

Fixed-rate mortgage Agents Marketing Lending 451

Housing Wire

MARCH 20, 2023

Much as the Fed was blind to the liquidity crises created by its rapid pace of rate increases, we believe the Fed has also failed to appreciate how severely its actions have imperiled the housing market. In 2021, mortgage originations hit a record high of $4.4 Independent mortgage companies have no such luxury. trillion in 2023.

Banks 403

Banks Mortgages Fixed-rate mortgage Loans 403

Housing Wire

FEBRUARY 6, 2023

Home prices growth and mortgage rates have come down from the peaks in 2022, but affordability still remains a challenge. In turn, borrowers who are entering the market are leaning heavily toward buying down their first lien interest rates by paying points up front. rate locks, with cash-out refis making up 13.7%

Equity 388

Equity Fixed-rate mortgage Mortgages Loans 388