Housing Wire

DECEMBER 8, 2021

“Mortgage rates declined for the first time in a month, prompting a pickup in refinancing, with government refinances increasing more than 20% over the week,” Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement. Compared to a year ago, mortgage applications declined across the board.

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Housing Wire

NOVEMBER 24, 2021

Joel Kan, the MBA’s associate vice president of economic and industry forecasting, said in a statement that purchase activity increased for the third straight week, as housing demand remains robust, even as the housing market approaches the typically slower holiday season. The overall market composite index dipped 24.5%

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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 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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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

APRIL 19, 2023

. “Last week’s increase in mortgage rates prompted a pullback in application activity. With more first-time homebuyers in the market, we continue to see increased sensitivity to rate changes ,” Joel Kan , MBA’s vice president and chief economist, said in a statement. last week. in the same period.

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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

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

MARCH 10, 2021

After a slight increase in late February , mortgage applications dipped 1.3% in the week ending March 5, according to the latest report from the Mortgage Bankers Association. “Loan sizes moderated for the second straight week, which is potentially a sign that more first-time buyers are entering the market,” Kan said.

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Housing Wire

AUGUST 23, 2023

Mortgage applications fell for the fifth consecutive week as the 30-year fixed-rate mortgage rose to 7.31%, its highest level since December 2000. For the week that ended August 18, mortgage applications fell 4.2% from the prior week , according to data from the Mortgage Bankers Association. from 13.8%

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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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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

MAY 5, 2022

and the adjustable-rate mortgage share remained unchanged at 9.3% of total applications, according to the Mortgage Bankers Association. The MBA found that purchase applications increased for conventional, FHA, and VA loans — all up 4% this week from the previous week. Refi applications dropped to 33.9%

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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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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

NOVEMBER 4, 2020

Despite volatile conditions like heightened unemployment rates, increased home prices and an adverse market refinance fee , Black Knight estimated over $4 trillion in mortgage origination volume by the end of 2020 with record levels across purchase and refi. The post Refinance wave boosts mortgage applications 3.8%

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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

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

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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RIS Media

MAY 4, 2022

After an eight-week downward trend, mortgage applications increased 2.5% from one week earlier, according to the latest data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 29, 2022. The Market Composite Index increased 2.5% Key findings: .

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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 Is A USDA Loan?

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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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RIS Media

SEPTEMBER 10, 2020

Freddie Mac recently released the results of its Primary Mortgage Market Survey ®, which showed that the 30-year fixed rate mortgage is averaging 2.86 Here’s the breakdown: 30-Year Fixed-Rate Mortgage. 15-Year Fixed-Rate Mortgage. Averaged 2.86 Averaged 2.86

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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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RIS Media

APRIL 6, 2022

It’s been a topsy-turvy 2022 for mortgage applications. And the Mortgage Bankers Association’s (MBA) Market Composite Index (MCI) for the week ending April 1, 2022, reveals another drop in applications, thus adding to that volatility trend. Key findings: Mortgage application volume decreased 6.3%

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HomeLight

OCTOBER 15, 2020

These loans come with required mortgage insurance, and they typically have higher rates and fees. VA loans : These loans are for qualifying military service members and their families, and they’re backed by the Veterans Administration. VA loans require a minimum credit score of 620 and a maximum DTI of 41%.

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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

MAY 28, 2022

VA loans are the final organization affiliated with the federal government that will back a loan for you. You must be a military veteran, or spouse of one, to qualify for one of these mortgages. Fixed-Rate Home Loan- If the market is volatile, you will want to opt for a fixed-rate mortgage.

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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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Real Trends

OCTOBER 23, 2022

Buying a home for the first time can be daunting, especially with how the market has been over the past few years. Rising interest rates and softening prices can create even more doubt for first-time homebuyers. First-time homebuyers’ extra jitters during today’s market. First-time homebuyers biggest fears.

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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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HomeLight

AUGUST 26, 2020

Lower mortgage rates and lower payments are excellent reasons to refinance, but there are other reasons someone might want to consider refinancing. Converting an adjustable-rate mortgage to a fixed-rate mortgage. VA IRRRL (interest rate reduction refinance loan).

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