Housing Wire

NOVEMBER 30, 2021

However, mortgage applications declined across the board in comparison to a year ago. The overall market composite index dipped 29.6% Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said mortgage rates rose for the third week in a row, reducing incentives for many borrowers to refinance.

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Housing Wire

JANUARY 13, 2021

. “This is a positive sign of more lower-income and first-time buyers returning to the market,” Kan said. The post New-year optimism reflected in mortgage applications jump appeared first on HousingWire.

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Housing Wire

JULY 28, 2021

Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity. “With over 95% of refinance applications for fixed rate mortgages, borrowers are looking to secure a lower rate for the life of their loan,” Kan said Wednesday. from 64.9% the previous week. from 10.5%.

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Housing Wire

MARCH 24, 2022

The national median monthly mortgage payment settled in loan applications increased 8.3%, from $1,526 in January to $1,653 in February, according to a survey published Thursday by the Mortgage Bankers Association. Conventional loans’ national median mortgage payment went from $1,582 in January to $1,749 in February.

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Housing Wire

JUNE 23, 2021

If the fed were to tighten policy, Fannie Mae’s ESR Group expects this to drag on upcoming housing market growth and even stifle home sales, house prices, construction and mortgage originations. With inventory tight, the slowdown in demand has yet to impact prices, meaning the summer will likely remain a strong seller’s market.”.

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Housing Wire

MARCH 17, 2021

“Purchase market activity was up 5% from a year ago, as the recovering job market and demographic factors drive demand, despite ongoing supply and affordability constraints,” Kan said. The refinance share of mortgage activity decreased as well, to 62.9% The FHA share of total mortgage applications increased to 11.7%

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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.

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HomeLight

NOVEMBER 6, 2023

Assuming a mortgage allows you to step into the shoes of the seller and take over their loan, often at a lower interest rate. It’s a unique approach that can make your dream of owning a home in today’s complex, high-priced housing market more attainable. Get Started What is an assumable mortgage?

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Housing Wire

APRIL 21, 2021

. “Borrowers acted on the decrease in rates for most loan types, with both conventional and government refinance applications showing gains,” Kan. The spring housing market also saw a boost from lower rates, with purchase applications — driven by a jump in conventional applications — increasing over 5%.”

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Housing Wire

APRIL 7, 2021

As has been the case for several weeks now, rising mortgage rates and low inventory are contributing to the slowdown in mortgage applications, said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Refinance mortgage applications declined for the fifth straight week.

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Housing Wire

JUNE 9, 2021

Mortgage applications fell 3.1% in the week ending June 4, and refis took the biggest dip, according to the latest report from the Mortgage Bankers Association. Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 the previous week.

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Housing Wire

MAY 12, 2021

. “Additionally, refinance loan balances increased for the fourth straight week, an indication that higher-balance borrowers acted to take quick advantage of lower rates.” ” Kan added that the first week of May was strong for the purchase market, with applications up 13% from a year ago.

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Housing Wire

APRIL 28, 2021

. “Even with a few weeks of lower rates, most borrowers have likely already refinanced, which is why activity has decreased in seven of the last eight weeks,” Kan said. The purchase market’s recent slide comes despite a strengthening economy and labor market.

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Housing Wire

MARCH 24, 2021

. “As both home-price growth and mortgage rates continue this upward trend, we may see affordability challenges become more severe if new and existing supply does not significantly pick up.”. That’s coupled with a rise in mortgage rates , too.

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Housing Wire

APRIL 13, 2021

The share of refinances in mortgage origination volume dipped below 50% for the first time in 15 months in March, according to Black Knight ‘s new monthly data report, the Originations Market Monitor. On the other hand, credit scores averaged close to 666 for FHA loans, around four points higher year-over-year.

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Housing Wire

OCTOBER 7, 2020

“Continuing the trend seen in recent months, the purchase market is growing at a strong clip,” Kan said. The average loan size increased again to a new record at $371,500, as activity in the higher loan size categories continues to lead growth.”. The average contract interest rate for 5/1 ARMs fell to 2.8% from 2.95%.

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Housing Wire

MARCH 31, 2021

“Record-low inventory is pushing home-price growth at double the rate from a year ago, and even above the 10% growth rates seen in 2005,” Kan said. “The housing market is in desperate need of more inventory to cool price growth and preserve affordability.

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Housing Wire

APRIL 5, 2023

retail residential mortgage applications. But the decline in demand for mortgage loans was more evident in the government market, which consists of Federal Housing Administration (FHA), U.S. Last week, mortgage apps in the space were 8.4% down compared to the previous week.

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Housing Wire

FEBRUARY 24, 2021

The adjustable-rate mortgage share of activity increased to 2.7% The housing market in most of the country remains strong, with activity last week 7% higher than a year ago,” Kan said. The post Texas storm deflates mortgage application numbers appeared first on HousingWire. of total applications.

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Eye on Housing

JULY 27, 2022

Census Bureau reveals that the four-quarter moving average (MA) share of new home sales financed through FHA was 11.0% Conventional loans financed 74.8% NAHB analysis of the most recent Quarterly Sales by Price and Financing published by the U.S. in Q2 2022–its smallest share since early 2008.

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Housing Wire

DECEMBER 12, 2023

While sellers of existing homes have struggled with rising rates and softening demand, homebuilders have not only survived, but thrived in this market thanks to the use of mortgage rate buydowns , a tool more widely used by builders since their business is selling homes and clearing inventory.

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Marco Santarelli

APRIL 24, 2024

Holding Your Ground: The Waiting Game's Potential Pitfalls Let's imagine you decide to wait for rates to fall. But here's the rub: the housing market is a dynamic entity, and its future trajectory can be unpredictable. In a competitive market, a buyer with a pre-approved mortgage is often seen as more attractive by sellers.

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Lab Coat Agents

FEBRUARY 7, 2023

Are you in the market to buy your first home? The most common types of mortgages are: 30-year fixed-rate mortgage: With this type of loan, the interest rate remains fixed for the entire term, typically 30 years. The minimum down payment for an FHA loan is 3.5%. What Are VA Loans?

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Housing Wire

OCTOBER 21, 2020

Fratantoni brought up this point, saying that short-term rates will stay at 0% at least until 2022 and said that we will see a very cautious Fed when it comes to raising rates from here. However, he forecasted that rates will steadily rise over the next year. Housing inventory and prices.

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RIS Media

NOVEMBER 4, 2020

Mortgage applications increased 3.8 percent from the previous week , according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. The Market Composite Index, a measure of mortgage loan application volume, increased 3.8 percent the previous week.

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Norada Real Estate

JUNE 22, 2022

Financing turnkey rental properties is the most difficult question to solve for a buyer with no experience in the real estate market. They usually buy them at REO auctions, renovate them and rent them out to the tenants, before putting the property on the market for sale. Financing Turnkey Rental Properties With Loan.

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RIS Media

NOVEMBER 9, 2020

Mortgage applications increased 3.8 percent from the previous week , according to the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Oct. The Market Composite Index, a measure of mortgage loan application volume, increased 3.8 percent the previous week.

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RIS Media

DECEMBER 9, 2020

Mortgage applications decreased 1.2 percent from one week earlier , according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending Dec. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.2 percent from 11.9

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HomeLight

OCTOBER 15, 2020

Here’s a quick rundown of the three major government-backed loans. FHA loans : These are mortgages offered by the Federal Housing Administration , and they’re geared toward buyers with lower credit scores who don’t qualify for a conventional loan. Fixed-rate mortgage.

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Realty Biz

APRIL 8, 2024

No seller wants to take their home off the market if a buyer can’t prove they can obtain a mortgage. What Type of Mortgage Should I Choose? Fixed-rate mortgages keep the same interest rate for the entire loan term, while adjustable-rate mortgages (ARMs) can change. Answer: Yes.

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Windemere Buying

FEBRUARY 14, 2022

A jumbo loan is an example of a non-conforming loan, due to its loan amounts being higher than the amount limits laid out in the underwriting guidelines. The two most common conventional loans are 30-year and 15-year fixed-rate mortgages.

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Realty Biz

SEPTEMBER 30, 2023

These lenders understand the challenges you might be facing and are willing to work with you to find a suitable mortgage option with scores down to 500. Government-backed programs: Government-backed mortgage programs, such as FHA loans, VA loans, and USDA loans, often have more relaxed credit score requirements.

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Realty Biz

FEBRUARY 7, 2023

Figure Out What Mortgage Program Works Best When you start looking for a mortgage , one of the first steps should be deciding what loan terms you want. For example, do you want a 30-year fixed or adjustable-rate mortgage? A fixed-rate mortgage will give you more stability if you stay in the home longer.

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Realty Biz

MARCH 30, 2023

Understand the Types of Mortgages, Interest Rates, and Fees Before you can get started, it's important to understand the different types of mortgages available and the associated interest rates. To get the best rate for your situation, be sure to look closely at each type of mortgage.

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Realty Biz

JANUARY 3, 2023

Experts say that it’s still possible to find affordable housing in a high-interest-rate environment: "There are still ways for first-time home buyers to make housing more affordable, even with interest rates being at their highest levels since 2003. While interest rates may be high, home prices are coming down in some markets.

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Housing Wire

JANUARY 20, 2021

The 30-year fixed rate rose to 2.92%, its highest level since last November. Additionally, the 15-year fixed rate increased for the first time in seven weeks to 2.48%. The post Mortgage applications decrease as rates move higher appeared first on HousingWire.

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Realty Biz

APRIL 11, 2022

The basic process begins by asking questions like what type of mortgage is best for you? A 30-year fixed rate mortgage is the most common for first-time buyers. I think loan types like 30-year fixed and ARMs, along with discount points are basic places to start asking questions when interest rates are going up.

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