Housing Wire

SEPTEMBER 23, 2020

9 , Joel Kan, MBA’s associate vice president of economic and industry forecasting, said the recent rebound in refinance activity was driven mainly by borrowers applying for conventional loans. The adjustable-rate mortgage (ARM) share of activity fell slightly to 2.2% trillion the MBA is forecasting for 2020. from 3.07%.

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Fixed-rate mortgage Mortgages Marketing Loans 534

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 420

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Housing Wire

JANUARY 19, 2022

Mortgage applications increased 2.3% from the previous week, largely due to a strong purchase market, according to the Mortgage Bankers Association (MBA) survey for the week ending Jan. Higher rates led to the “slowest pace of refinance activity in over two years,” mainly among FHA and VA loans, Kan said in a statement.

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Loans Mortgages VA loan Fixed-rate mortgage 391

Housing Wire

FEBRUARY 11, 2022

The latest mortgage rate survey from Freddie Mac puts rates for the 30-year fixed-rate mortgage at 3.69%, while the average rate in the latest mortgage application survey from the Mortgage Bankers Association was 3.83%. Other indices put mortgage rates even higher.

Industrial 382

Industrial Mortgages Fixed-rate mortgage Equity 382

Housing Wire

DECEMBER 14, 2023

The holidays have come early for the mortgage industry. Mortgage rates fell below the 7% threshold this week as markets prepared for Federal Reserve Chairman Jerome Powell’s announcement on Wednesday. The 30-year, fixed mortgage rate averaged 6.95% for the week ending Dec. on Thursday.

Mortgages 477

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Housing Wire

SEPTEMBER 9, 2020

According to Joel Kan, MBA’s associate vice president of economic and industry forecasting, last week’s drop in rates led to the rebound in refinance activity – driven mainly by borrowers applying for conventional loans. Nevertheless, there continues to be resiliency in the purchase market. from 3.41%.

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Fixed-rate mortgage Mortgages Marketing Loans 395

Housing Wire

JANUARY 13, 2021

The jump underlines the seasonality behind last week’s decreas e in mortgage rates, as well as the expectation of additional fiscal stimulus from the incoming administration, per MBA Associate Vice President of Economic and Industry Forecasting Joel Kan. The seasonally adjusted purchase index increased 8% after a 0.8%

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Fixed-rate mortgage Mortgages Loans Industrial 498

Housing Wire

JULY 14, 2021

The sudden increase in applications was driven “heavily” by increased refinancing as mortgage rates dipped again, said Joel Kan, MBA associate vice president of economic and industry forecasting. The refinance share of activity of total mortgage applications increased to 64.1% from 61.6% the previous week.

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Fixed-rate mortgage Mortgages Loans Investor 510

Housing Wire

DECEMBER 22, 2021

Mortgage applications fell 0.6% 17, with fewer borrowers looking for purchases in the lower end of the market, according to the Mortgage Bankers Association (MBA) survey published on Wednesday. Compared to a year ago, mortgage applications declined across the board. The overall market composite index dipped 31.9%

Mortgages 383

Mortgages VA loan FHA loan Fixed-rate mortgage 383

Housing Wire

JULY 7, 2021

“Treasury yields have been volatile despite mostly positive economic news, including last week’s June jobs report, which showed ongoing improvements in the labor market,” said Joel Kan, MBA associate vice president of economic and industry forecasting. “However, rates continued to move lower, especially late in the week.”

Fixed-rate mortgage 450

Fixed-rate mortgage Mortgages Loans Industrial 450

Housing Wire

DECEMBER 9, 2021

Mortgage rates decreased one basis point to 3.10% in the week ending Dec. 9, remaining low and stable despite tighter housing supply and affordability, according to the latest Freddie Mac PMMS mortgage report. Economists at Freddie Mac said the 15-year fixed-rate mortgage averaged 2.38% last week, down from 2.39% the week prior.

Mortgages 502

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Housing Wire

JUNE 28, 2022

Roughly a year ago, the Austin-based fintech began to sell its loans to First Guaranty Mortgage Corporation (FGMC), a lender and investor that specializes in non-qualified mortgage loans and is controlled by behemoth investment management firm Pacific Investment Management Company (PIMCO). . Treasury rates. .

Loans 382

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Housing Wire

JULY 28, 2021

The 10-year Treasury yield went into free fall last week, as investors grew concerned about the rise in COVID-19 variant cases and the potential economic fallout, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting. Those ultra-low rates naturally resulted in a sharp uptick in refinancing activity.

Fixed-rate mortgage 382

Fixed-rate mortgage Mortgages Loans Finance 382

Housing Wire

DECEMBER 16, 2020

Homeowners once again acted on the decline in rates, with refinance activity rising for the second straight week and up 105% from a year ago,” Kan said. “This is perhaps a sign that more first-time buyers are entering the market,” Kan said. The unadjusted purchase index also increased, jumping 0.4% from the previous week.

Fixed-rate mortgage 446

Fixed-rate mortgage Mortgages Loans Industrial 446

Housing Wire

NOVEMBER 2, 2022

Despite new language in the Federal Open Market Committee statement that suggested a potential slowdown in curbing inflation, Federal Reserve Chairman Jerome Powell maintained a hawkish tone on raising the federal funds rates during Wednesday’s press conference. It may be another year or two before that happens,” Yun said.

Industrial 401

Industrial Mortgages Fixed-rate mortgage Principal 401

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.

Marketing 414

Marketing Fixed-rate mortgage Loan Officer Pre-approval 414

Housing Wire

JUNE 23, 2021

Purchase activity was higher for the third straight week, according to Joel Kan, MBA’s vice president of economic and industry forecasting. 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.

Fixed-rate mortgage 351

Fixed-rate mortgage Mortgages Loans Construction 351

Housing Wire

MARCH 10, 2021

With spring approaching – signaling the start of a busy buying season – the purchase market sported its strongest showing in four weeks, with gains in both conventional and government applications, according to Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Fixed-rate mortgage 414

Fixed-rate mortgage Mortgages Loans Industrial 414

Housing Wire

JUNE 16, 2021

Both purchase and refinance applications increased, with refinances notably up 5.5%, according to Joel Kan, the MBA’s vice president of economic and industry forecasting. “The jump in refinances was the result of the 30-year fixed rate falling for the third straight week to 3.11%, which is the lowest since early May,” Kan said.

Fixed-rate mortgage 510

Fixed-rate mortgage Mortgages Loans Industrial 510

Housing Wire

MARCH 17, 2021

Mortgage applications dropped for the second straight week — falling 2.2%, according to the latest report from the Mortgage Bankers Association. The continued increase in mortgage rates is to blame, according to MBA’s Associate Vice President of Economic and Industry Forecasting Joel Kan. from 11.6%

Fixed-rate mortgage 403

Fixed-rate mortgage Mortgages Loans Construction 403

Housing Wire

JANUARY 6, 2022

The average 30-year fixed rate mortgage increased to 3.22% during the week ending Jan. 6, up from 3.11% the week prior, according to the latest Freddie Mac PMMS Mortgage Survey. A year ago, the 30-year fixed rate mortgage averaged 2.65%. Rising mortgage rates have already begun to sap demand.

Fixed-rate mortgage 493

Fixed-rate mortgage Mortgages Lending Loans 493

Housing Wire

APRIL 21, 2021

The jump in applications can be traced to mortgage rates falling to the lowest level in two months, prompting a small resurgence in refinance activity, said Joel Kan, MBA associate vice president of economic and industry forecasting. The post Mortgage applications rebound following drop in rates appeared first on HousingWire.

Fixed-rate mortgage 457

Fixed-rate mortgage Mortgages Loans Industrial 457

Housing Wire

JUNE 9, 2021

“Most of the decline in mortgage rates came late last week, with the 30-year fixed-rate mortgage declining to 3.15 percent,” said Joel Kan, the MBA’s vice president of economic and industry forecasting. Demand is still strong overall, especially in certain markets in the South and West.

Fixed-rate mortgage 439

Fixed-rate mortgage Mortgages Loans Industrial 439

Housing Wire

JANUARY 17, 2024

Mortgage rates at their lowest level in three weeks led to an increase in borrowers’ demand for home loans last week, spreading some optimism in the industry in the first few weeks of 2024. Overall, mortgage applications rose by 10.4% Overall, mortgage applications rose by 10.4%

Mortgages 439

Mortgages Fixed-rate mortgage Loans Residential 439

Housing Wire

NOVEMBER 4, 2020

According to Joel Kan , MBA’s associate vice president of economic and industry forecasting, borrowers made a grab for both conventional and government refi’s. The drop in rates spurred an uptick in demand for refinances,” Kan said. Mortgage rates continue to hover at record lows this fall. of total applications.

Fixed-rate mortgage 502

Fixed-rate mortgage Mortgages FHA loan Loans 502

Housing Wire

OCTOBER 21, 2020

Joel Kan, MBA’s vice president of economic and industry forecasting, pointed to a rise in mortgage rates last week for why conventional and government purchase activity took a step back. The 30-year fixed rate climbed two basis points to 3.02, the highest since late September. from 2.59%.

Fixed-rate mortgage 449

Fixed-rate mortgage Mortgages Loans Industrial 449

Housing Wire

MAY 12, 2021

. “The decline in rates helped the refinance index reach its highest level in eight weeks, driven by a 4% increase in conventional refinances,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting.

Fixed-rate mortgage 431

Fixed-rate mortgage Mortgages Loans Industrial 431

Housing Wire

NOVEMBER 18, 2021

Mortgage rates strongly increased above 3% in the week ending November 18, according to the latest Freddie Mac PMMS mortgage report. The 30-year fixed-rate mortgage hit 3.10%, up 12 basis points from 2.98% the week prior. A year ago at this time, the average 30-year fixed-rate loan averaged just 2.72%.

Fixed-rate mortgage 498

Fixed-rate mortgage Mortgages Loans Industrial 498

Housing Wire

OCTOBER 28, 2020

After two weeks of slight declines , mortgage applications regained their footing last week, rising 1.7% from the week prior, according to a report from the Mortgage Bankers Association. With the 30-year fixed rate at MBA’s all-time survey low of 3%, conventional refinances rose 5%. from 2.61%.

Fixed-rate mortgage 513

Fixed-rate mortgage Mortgages Loans Industrial 513

Housing Wire

OCTOBER 14, 2020

. “Applications for government mortgages offset some of the overall decline by increasing 3%, driven by a solid gain in government purchase applications and an 11% jump in VA refinance applications,” said Joel Kan, MBA’s vice president of economic and industry forecasting. from 3.31%.

Fixed-rate mortgage 430

Fixed-rate mortgage Mortgages Loans Industrial 430

Housing Wire

APRIL 27, 2022

Interest in residential mortgage loans fell 8.3% for the week ending April 22, including a sharp decline in purchase applications, which indicates a potential weakness in home sales in the coming months, according to the Mortgage Bankers Association ‘s (MBA) latest survey. year-over-year, with declines across all loan types.

Mortgages 382

Mortgages Fixed-rate mortgage Marketing Loans 382

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.

Loan Officer 404

Loan Officer Mortgages Fixed-rate mortgage Loans 404

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.

Fixed-rate mortgage 351

Fixed-rate mortgage Mortgages Loans Industrial 351

Housing Wire

AUGUST 19, 2020

The seasonally adjusted purchase index gained 1% compared with the previous week and was 27% higher than the same week one year ago – the third straight month of year-over-year increases, said Joel Kan, MBA’s associate vice president of economic and industry forecasting. The average contract interest rate for 5/1 ARMs fell to 2.95% from 3%.

Fixed-rate mortgage 541

Fixed-rate mortgage Mortgages Loans Industrial 541

Housing Wire

AUGUST 12, 2020

Consumers responded to mortgage rates that fell to new low last week , with the refinance index jumping 9% from the previous week to its highest level since April, said Joel Kan, MBA’s associate vice president of economic and industry forecasting. The adjustable-rate mortgage (ARM) share of activity fell last week to 2.7%

Fixed-rate mortgage 545

Fixed-rate mortgage Mortgages Loans Industrial 545

Housing Wire

APRIL 28, 2021

Mortgage applications decreased despite mortgage rates falling for the third week in a row, indicating high prices and low inventory, said Joel Kan, MBA associate vice president of economic and industry forecasting. The purchase market’s recent slide comes despite a strengthening economy and labor market.

Fixed-rate mortgage 426

Fixed-rate mortgage Mortgages Loans Industrial 426

Housing Wire

OCTOBER 7, 2020

Refinances continued to hover around two-thirds the share of mortgage activity as they increased to 65.4% Continuing the trend seen in recent months, the purchase market is growing at a strong clip,” Kan said. The adjustable-rate mortgage (ARM) share of activity remained unchanged at 2.2% of total applications from 63.3%

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