Housing Wire

MAY 26, 2021

After two straight weeks of increases , mortgage applications dropped 4.2% for the week ending May 21, 2021, according to the Mortgage Bankers Association ‘s weekly mortgage applications survey. The post Mortgage applications decrease 4% appeared first on HousingWire.

Fixed-rate mortgage 448

Fixed-rate mortgage Mortgages Loans Industrial 448

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 366

Mortgages Fixed-rate mortgage Loans Marketing 366

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 383

Fixed-rate mortgage VA loan FHA loan Loans 383

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 369

Fixed-rate mortgage Mortgages New Construction Loans 369

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 422

Fixed-rate mortgage Mortgages Loans Industrial 422

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 422

Fixed-rate mortgage Agents Marketing Lending 422

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 432

Mortgages Fixed-rate mortgage New Construction Construction 432

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 540

Mortgages Fixed-rate mortgage Sales Equity 540

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 410

Mortgages Fixed-rate mortgage Loans Investor 410

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 318

Fixed-rate mortgage Mortgages Loans Construction 318

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 441

Fixed-rate mortgage Mortgages Loans Industrial 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 410

Mortgages Fixed-rate mortgage MLS Staging 410

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 410

Fixed-rate mortgage Mortgages Loans Sales 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 309

Fixed-rate mortgage Mortgages Loans New Construction 309

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 414

Fixed-rate mortgage Mortgages VA loan Loans 414

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. There’s growing concern in the mortgage industry that rates could even touch 8% before they fall below 7%. Really struggling.

Loan Officer 402

Loan Officer Mortgages Fixed-rate mortgage Loans 402

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 364

Mortgages Fixed-rate mortgage Banks Investor 364

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 440

Fixed-rate mortgage Mortgages Loans Industrial 440

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. So if you look macro versus micro, you’re going to get a very different picture,” said Shane Kidwell, CEO of Dwell Mortgage. “We

Mortgages 450

Mortgages Fixed-rate mortgage Equity Loans 450

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 401

Mortgages Fixed-rate mortgage Marketing MLS 401

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 464

Fixed-rate mortgage Mortgages Loans Construction 464

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 393

Fixed-rate mortgage Mortgages Loans Industrial 393

Housing Wire

SEPTEMBER 2, 2021

The average 30-year fixed-rate mortgage was flat at 2.87% for the week ending in Sept. 2, 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 2.93%.

Fixed-rate mortgage 528

Fixed-rate mortgage Mortgages Banks Finance 528

Housing Wire

AUGUST 9, 2023

government debt rating by Fitch Ratings and the Treasury’s funding announcement that followed played a non-negligible role in this hike, observes Joel Kan, MBA’s vice president and deputy chief economist. As a result, rates increased for all loan types. The Federal Housing Administration loans’ share increased to 13.6%

Mortgages 313

Mortgages Fixed-rate mortgage Loans Sales 313

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 382

Fixed-rate mortgage Mortgages Loans Industrial 382

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 392

Fixed-rate mortgage Mortgages Loans Residential 392

Housing Wire

FEBRUARY 8, 2024

Mortgage rates stabilized this week despite newly released economic data. The 30-year fixed-rate mortgage averaged 6.64% as of Feb. 8, a slight increase from last week ’s figure of 6.63%, according to Freddie Mac ’s Primary Mortgage Market Survey released on Thursday.

Mortgages 391

Mortgages Fixed-rate mortgage Marketing Loans 391

Housing Wire

AUGUST 3, 2023

According to HousingWire’s analyst Logan Mohtashami , the stronger labor data had a bigger impact on mortgage rates and the bond market than the sale of long-term securities or the default rating. By contrast, the 30-year fixed-rate mortgage was at 4.99% a year ago at this time.

Fixed-rate mortgage 315

Fixed-rate mortgage Mortgages Loans Sales 315

Housing Wire

AUGUST 24, 2023

“In order to achieve a soft landing, economic growth will have to slow to a rate that is below trend for some time in order for the unemployment rate to rise sufficiently to cause wage growth to slow consistent with a 2% inflation target over the long term, but not so slow that the economy falls into a contraction,” the ESR group said.

Land 263

Land Sales Fixed-rate mortgage Construction 263

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 403

Mortgages Fixed-rate mortgage Loans New Construction 403

Housing Wire

OCTOBER 29, 2020

The sudden loss of income triggered by the pandemic was partly muted by an income tax refund for eligible taxpayers, enhanced unemployment insurance payments for laid-off workers, and small business loans to maintain employment through the Paycheck Protection Program. Treasury bonds and Mortgage Backed Securities to lower long-term yields.

Fixed-rate mortgage 533

Fixed-rate mortgage Marketing Loans Equity 533

Housing Wire

APRIL 17, 2024

Mortgage rates hold major power in the housing industry; most importantly, high rates exacerbate the current affordability crisis by walloping the buying power of would-be buyers and discouraging some would-be sellers – those with low, fixed-rate mortgages – from listing their homes, a drain on available inventories.

Mortgages 450

Mortgages Fixed-rate mortgage Banks Residential 450

Housing Wire

APRIL 19, 2023

As the banking crisis stabilized last week, mortgage rates increased, reducing borrower demand for home loans. However, with limited for-sale housing inventory, these higher rates are primarily challenging for potential first-time homebuyers. Overall, mortgage applications fell last week by 8.8% ”

Mortgages 347

Mortgages Fixed-rate mortgage Marketing Loans 347

Housing Wire

JUNE 26, 2023

The total number of loans in forbearance at the end of Q1 stood at 65,757, coming out to 0.21% of the total loans serviced and 15% of delinquent loans. 35% of loan modifications completed in Q1 “reduced borrowers’ monthly payments by more than 20%,” the report’s findings said. “The

VA loan 331

VA loan FHA loan Fixed-rate mortgage Principal 331

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 392

Fixed-rate mortgage Mortgages VA loan Loans 392

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 393

Fixed-rate mortgage Mortgages Loans Investor 393

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 398

Mortgages Fixed-rate mortgage Residential Loans 398