Housing Wire

OCTOBER 5, 2023

Fannie Mae on Thursday announced that its Desktop Underwriter (DU) system will include new changes to the maximum allowable loan-to-value (LTV) ratios for two- to four-unit, principal residence, purchase and limited cash-out transactions, as well as other updates to further align the system with recent changes to the Selling Guide.

Loans 450

Loans Fixed-rate mortgage Principal Renovation 450

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Borrower demand for home loans increased across the board, despite rates being at their highest level in over a month. retail residential mortgage applications. Mortgage apps also rose 4.7% for home purchases and 1.7% for refinancing.

Loans 397

Loans Mortgages Loan Officer Fixed-rate mortgage 397

Housing Wire

JUNE 23, 2021

. “Despite the jump in rates, refinances also increased for the second consecutive week, pushed higher by a 4% bump in conventional refinance applications,” Kan said, “Government purchase applications drove most of last week’s increase, which also contributed to a slightly lower overall average purchase loan size.”.

Fixed-rate mortgage 414

Fixed-rate mortgage Mortgages Loans Construction 414

Housing Wire

OCTOBER 6, 2021

Joel Kan, MBA’s associate vice president of economic and industry forecasting, said that “higher rates are reducing borrowers’ incentive to refinance, as declines were seen across all loan types.” drop in conventional loans application. According to Kan, it was not enough to bring down the average loan balance of $410,000.

Fixed-rate mortgage 441

Fixed-rate mortgage Mortgages Loans Industrial 441

Housing Wire

FEBRUARY 26, 2025

Increasing for-sale inventory in some markets has provided prospective buyers more options as we approach the spring homebuying season. The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances decreased to 7.00% from 7.03%.

Fixed-rate mortgage 205

Fixed-rate mortgage Mortgages Loans Marketing 205

Housing Wire

NOVEMBER 25, 2020

“The ongoing refinance wave has continued into November, and both the refinance index and the share of refinance applications were at their highest levels since April, as another week of lower rates drew more conventional loan borrowers into the market,” Kan said.

Fixed-rate mortgage 450

Fixed-rate mortgage Mortgages Loans Industrial 450

Housing Wire

NOVEMBER 1, 2023

Rates for a 30-year, fixed-rate mortgage are the highest in over 20 years and may stay elevated for some time. In many cases, that product may still be a fixed-rate mortgage. But for some borrowers, a less traditional loan type could make the most financial sense.

Loans 407

Loans Fixed-rate mortgage Lending Loan Officer 407

Housing Wire

AUGUST 18, 2021

The refinance share of mortgage activity decreased to 67.3% The share of applications for conventional purchase loans decreased from the week prior, while Federal Housing Administration and Veterans’ Affairs loans, typically popular with first-time homebuyers, gained a larger share. of total applications from 68.0%

Fixed-rate mortgage 450

Fixed-rate mortgage Mortgages Loans Industrial 450

Housing Wire

APRIL 10, 2025

With current rates hovering near 7%, selling a home today often means trading a historically low payment for one nearly double the size. Existing home sales have hit multi-decade lows. Mortgage originations have dropped off a cliff. Servicing portfolios are clogged with long-dated, low-yield loans that strain balance sheets.

Design 224

Design Marketing Fixed-rate mortgage Finance 224

Housing Wire

FEBRUARY 3, 2021

. “The one-week reversal in the recent upswing in rates drove an increase in both conventional and government refinance activity, as borrowers continue to lock in these historically low rates,” Kan said. ” The FHA share of total mortgage applications decreased to 9.1% the week prior.

Fixed-rate mortgage 431

Fixed-rate mortgage Mortgages Loans Industrial 431

Housing Wire

OCTOBER 27, 2021

Higher rates continue to reduce borrowers’ incentive to refinance,” said Joel Kan, MBA’s associate vice president of economic and industry forecasting. Both new and existing-home sales last month were at their strongest sales pace since early 2021, but first-time home buyers are accounting for a declining share of activity.”.

Fixed-rate mortgage 441

Fixed-rate mortgage Mortgages Loans Sales 441

Housing Wire

AUGUST 26, 2021

The average 30-year fixed-rate mortgage held steady at 2.87% for the week ending in August 26, according to mortgage rates data released Thursday by Freddie Mac ‘s PMMS. The week prior, mortgage rates declined slightly to 2.86%. A year ago at this time, the 30-year fixed-rate mortgage averaged 2.91%.

Fixed-rate mortgage 473

Fixed-rate mortgage Mortgages Loans Construction 473

Housing Wire

SEPTEMBER 20, 2023

15, mortgage applications rose 5.4% from the prior week , according to data from the Mortgage Bankers Association. Last week, purchase applications increased for both conventional and FHA loans but remained 26% lower than the same week a year ago. The Federal Housing Administration loans’ share remained unchanged at 14.2%.

Fixed-rate mortgage 450

Fixed-rate mortgage Mortgages FHA loan Loans 450

Housing Wire

OCTOBER 19, 2023

Rates on the 30-year fixed-rate mortgage eclipsed 8% this week as the Treasury yield surpassed 4.9% Per Mortgage News Daily , mortgage rates touched 8.03% on Wednesday, up from 7.69% the previous week. By contrast, the 30-year, fixed-rate mortgage was at 6.94% a year ago at this time.

Fixed-rate mortgage 473

Fixed-rate mortgage Mortgages Construction Loans 473

Housing Wire

MARCH 24, 2023

According to the report, about 37% of the loan modifications completed in Q4 reduced borrowers’ monthly payments by at or over 20%. Rising rates led to a reduction in mortgage refinances during that quarter, declining to 111,251 in Q4 2022, down from 194,189 the previous quarter.

Fixed-rate mortgage 431

Fixed-rate mortgage VA loan FHA loan Loans 431

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% 12 compared to a week earlier.

Fixed-rate mortgage 530

Fixed-rate mortgage Mortgages New Construction Construction 530

Housing Wire

SEPTEMBER 27, 2023

Based on the FOMC’s most recent projections, rates are expected to be higher for longer, which has driven Treasury yields to new heights. It is still facing limited for-sale inventory and struggling with affordability issues. At Mortgage News Daily , 30-year fixed-rate mortgage rates were at 7.50% on Tuesday.

Mortgages 439

Mortgages Fixed-rate mortgage Loans Marketing 439

Housing Wire

JUNE 1, 2022

Purchase applications last week were 14% lower than last year, with more activity in the larger loan sizes, said Kan. The results are consistent with the MBA’s May forecast , which shows a significant drop in mortgage originations and home sales in 2022 than a year ago. million home sales this year, compared to 6.13

Fixed-rate mortgage 432

Fixed-rate mortgage Mortgages VA loan Loans 432

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. for 30-year fixed-rate loans.

Marketing 545

Marketing FHA loan Fixed-rate mortgage Loans 545

Housing Wire

AUGUST 11, 2021

“Homeowners continue to respond to lower rates, with refinance activity climbing to the highest level since February 2021,” said Kan. The refinance share of loan counts was at 68%, compared to a 63.4% share for refinances by dollar volume, as purchase loans continue to see significantly higher loan sizes.”.

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages Loans Industrial 397

Housing Wire

JANUARY 19, 2024

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. Following years of volatility in mortgage rates, the housing market will begin its gradual return to a more normal balance in 2024.

Mortgages 541

Mortgages Fixed-rate mortgage Sales Equity 541

Housing Wire

DECEMBER 10, 2020

Despite slightly higher Treasury yields, mortgage rates held steady at record lows this week, according to a survey by Freddie Mac. Rates remained at last week’s level of 2.71% for the 30-year fixed rate mortgage, according to Freddie Mac’s Primary Mortgage Market Survey.

Mortgages 508

Mortgages Fixed-rate mortgage Loans Closing 508

Housing Wire

OCTOBER 26, 2023

Average mortgage rates on 30-year fixed home loans continued their march towards 8% this week as the Treasury yield surpassed 5%. Rates have been steadily climbing for seven straight weeks, the longest consecutive increase since Spring 2022, according to Freddie Mac ‘s Primary Mortgage Market Survey.

Mortgages 450

Mortgages Fixed-rate mortgage Loans Investor 450

Housing Wire

MAY 18, 2022

The results are consistent with MBA’s May forecast released on Monday, which shows far fewer home sales and mortgage originations in 2022 than a year ago. Meanwhile, the MBA expects 5.934 million home sales in 2022, compared to 6.127 million in 2021. Total originations are expected to be at $2.5 trillion last year.

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages Loans Residential 397

Housing Wire

AUGUST 25, 2021

Lower rates led to an increase in refinance applications, with government loan applications jumping 10 percent to the highest level since May 2021.” ” Kan also noted that purchase applications for both conventional and government loans increased on the week that ended Aug. of total applications. the week prior.

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages Loans Investor 397

Housing Wire

DECEMBER 2, 2020

Purchase loan amounts continue to be significantly higher than their average over the past decade and hit $375,000 last week, the largest since the inception of MBA’s survey in 1990. Housing demand remains strong, and despite extremely tight inventory and rising prices, home sales are running at their strongest pace in over a decade.”.

Fixed-rate mortgage 351

Fixed-rate mortgage Mortgages Loans Industrial 351

Housing Wire

APRIL 6, 2022

Interest in residential mortgage loans fell 6.25% for the week ending April 1 as rates jumped yet again , ever nearer to 5%, according to the Mortgage Bankers Association ‘s latest survey. Refinance applications are in a free fall, as few borrowers these days have an incentive to change their current loans rates.

Mortgages 421

Mortgages Fixed-rate mortgage Residential Loans 421

Housing Wire

SEPTEMBER 1, 2021

Unlike prior weeks , there was little movement of mortgage rates or Treasury spreads. The 30-year-fixed-rate mortgage stayed at 3.03%. Despite low rates, refinance applications declined, with some borrowers still waiting for rates to drop even lower. 27, the highest average in five weeks. from 67.3%

Fixed-rate mortgage 394

Fixed-rate mortgage Mortgages Loans Industrial 394

Housing Wire

SEPTEMBER 7, 2023

A slight cooling in mortgage rates wasn’t enough to keep mortgage applications from sinking to a 28-year low. 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 7.12% as of Sept.

Mortgages 450

Mortgages Fixed-rate mortgage Marketing MLS 450

Housing Wire

SEPTEMBER 30, 2022

The latest weekly survey data from Freddie Mac shows the 30-year fixed-rate mortgage jumped 40 basis points to an average of 6.70% this week, the highest level since 2007. The survey also indicates a large dispersion in rates, meaning that homebuyers can save hundreds of dollars by shopping around with different lenders.

Mortgages 458

Mortgages Fixed-rate mortgage Loans Loan Officer 458

Housing Wire

JANUARY 5, 2024

Lower interest rates make mortgages more accessible, paving the way for more buyers into the market and potentially resulting in increased demand and higher prices. Rising interest rates, however, mean higher mortgage payments, and can dampen buyer enthusiasm or affordability , slow down sales or lead to dropping home prices.

Fixed-rate mortgage 441

Fixed-rate mortgage Agents Marketing Lending 441

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.

Mortgages 466

Mortgages Fixed-rate mortgage MLS Staging 466

Housing Wire

FEBRUARY 29, 2024

Mortgage rates continued to trend up this week and dampen homebuyer momentum. The 30-year fixed-rate mortgage averaged 6.94% as of Feb. 29, an increase from last week ’s figure of 6.90%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 473

Mortgages Fixed-rate mortgage New Construction Construction 473

Housing Wire

AUGUST 10, 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 6.96% as of August 10, up from last week ’s 6.90%. By contrast, the 30-year fixed-rate mortgage was at 5.22% a year ago at this time.

Fixed-rate mortgage 370

Fixed-rate mortgage Mortgages New Construction Loans 370

Housing Wire

JUNE 8, 2022

“The purchase market has suffered from persistently low housing inventory and the jump in mortgage rates over the past two months. In May, the inventory of homes for sale rose 8%, marking the first rebound since June 2019. The adjustable-rate mortgage (ARM) share of activity decreased to 8.2% year over year. .

Fixed-rate mortgage 397

Fixed-rate mortgage Mortgages VA loan Loans 397

Housing Wire

DECEMBER 20, 2022

Lower mortgage rates helped to increase borrowers’ demand for home loans last week, which in turn drummed up optimism for the mortgage industry at the end of 2022. Rates for jumbo loan balances (greater than $647,200) went from 6.14% to 5.97% in the same period. . ” Uptick in applications .

Mortgages 410

Mortgages Fixed-rate mortgage Loans New Construction 410

Housing Wire

JULY 27, 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 6.81% as of July 27, up from last week ’s 6.78%. By contrast, the 30-year fixed-rate mortgage was at 5.30% a year ago at this time.

Fixed-rate mortgage 369

Fixed-rate mortgage Mortgages Loans New Construction 369