We need higher mortgage rates to cool the housing market

Housing Wire

history, with the lowest mortgage rates recorded in history. So far this year, the weekly Mortgage Bankers Association purchase application data compared to last year looks like this: +3%; +10%; +15%; +16%; +16%; +17%.

Deephaven Mortgage re-enters non-QM market

Housing Wire

Like many players in the non-Qualified Mortgage space, Deephaven Mortgage was forced to halt operations in 2020 when liquidity dried up. million security backed by non-QM mortgages that have seasoned for an average of nine months, a presale report from S&P Global Ratings showed.

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Mortgage rates jump to 2.81%

Housing Wire

After three weeks of unchanged rates, the average mortgage rate for a 30-year fixed loan jumped 8 basis points to 2.81%, reaching its highest point since mid-November, according to Freddie Mac ’s Primary Mortgage Market Survey.

Mortgage rates climb higher to 2.97%

Housing Wire

The average mortgage rate for a 30-year fixed loan is now just 3 basis points away from 3%, after a 16 basis point jump last week pushed mortgage rates to 2.97%, according to Freddie Mac ’s Primary Mortgage Market Survey.

Mortgage applications rebound as mortgage rates drop

Housing Wire

After two weeks of decreases, the Mortgage Bankers Association reported that mortgage applications increased 1.1% 11 amid mortgage rates that hit a new survey low. “This is perhaps a sign that more first-time buyers are entering the market,” Kan said.

Wells Fargo continues to cede mortgage market share

Housing Wire

Wells Fargo , the second-biggest mortgage lender in the nation, continued to cede market share to nonbank rivals in the fourth quarter of 2020. billion in mortgages. Wells Fargo also said that over 10,000 first-lien mortgages it services have deferred payments.

Purchase market remains resilient as mortgage applications gain 2.9%

Housing Wire

After three weeks of declines, mortgage applications rose 2.9% last week, according to a report from the Mortgage Bankers Association. However, Kan said this increase is skewed higher by being compared to Labor Day 2019, when the 30-year fixed-rate mortgage climbed to 4.01%.

Prepare for the rise in mortgage rates

Housing Wire

As the calendar flipped to 2021, it didn’t take long for the rise in mortgage rates. Just two weeks into the new year, Freddie Mac reported that mortgage rates climbed 14 basis points to 2.79% , a dramatic contrast to 2020, a year in which mortgage rates set record lows 16 times.

Mortgage rates continue to stay low at 2.73%

Housing Wire

The average mortgage rate for a 30-year fixed loan remained unchanged last week from the week prior at 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. million per month in volume in the last quarter, thanks to all those sweet low mortgage rates.

Mortgage applications dip as rates climb

Housing Wire

The seesaw nature of mortgage applications continued for the week ending Feb. from the prior week, according to the latest data from the Mortgage Bankers Association. The 30-year fixed mortgage rate increased to 2.96% – a high not seen since November 2020, Kan said.

Understanding the seasonal patterns of mortgage rates

Housing Wire

Much like the changing of the calendar, buying and selling homes follows a seasonality that that those in mortgage and real estate have grown accustomed to. What that usually means is that mortgage rates would also drop like crazy. But at first, mortgage rates didn’t drop.

The adverse market refinance fee on mortgages is unwarranted

Housing Wire

This strong performance was not unexpected, but makes the upcoming 50 basis point adverse market refinance fee more puzzling. First, Federal Reserve actions loading taxpayers with debt that now exceeds total GDP, which drove mortgage rates to historic lows. Mortgage Opinion

Housing market stays hot into fall with mortgage applications up 6.8%

Housing Wire

Despite mortgage rates rising slightly from a previously all-time low, mortgage applications gained 6.8% last week, according to a report from the Mortgage Bankers Association. Refinances also nearly reached two thirds share of mortgage activity last week, increasing to 64.3%

Mortgage rates hold steady at record lows

Housing Wire

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.

Mortgage rates decline this week

Housing Wire

mortgage rate for a 30-year fixed loan is 2.88% this week, falling from last week’s 2.9% , Freddie Mac said in a report on Thursday. The average fixed rate for a 15-year mortgage was 2.36%, falling from last week’s 2.4% The average U.S.

Mortgage rates remain at record-low levels

Housing Wire

After falling to the lowest rate in Freddie Mac’s Primary Mortgage Market Survey’s near 50-year-history last week, the average U.S. mortgage rate for a 30-year fixed loan remained at a survey-low 2.67% this week.

Mortgage rates dip back down to 2.73%

Housing Wire

The average mortgage rate for a 30-year fixed loan fell four basis points last week to 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. This is the second week mortgage rates have ticked downwards since Jan.

Fannie Mae reports rising confidence in housing market

Housing Wire

Following two months of steady declines, Fannie Mae’s Home Purchase Sentiment Index (HPSI), a composite index designed to track the housing market and consumer confidence to sell or buy a home, rose in January. Is the housing market recovering?

Mortgage applications rise 4.6%

Housing Wire

the week prior , mortgage applications almost completely rebounded last week, gaining 4.6%, according to a report from the Mortgage Bankers Association. Refinances continued to hover around two-thirds the share of mortgage activity as they increased to 65.4% After faltering 4.8%

Why do mortgage rates need to cool down?

Housing Wire

HousingWire Lead Analyst Logan Mohtashami joins the HousingWire Daily podcast to talk about why low mortgage rates need to end. During the interview, HW+ Managing Editor Brena Nath interviews Mohtashami on his most recent article , “We need higher mortgage rates to cool the housing market.”.

Mortgage applications drop for second week

Housing Wire

As mortgage rates come off of their historic lows, mortgage applications dropped for the second week, according to data from the Mortgage Bankers Association. Mortgage applications dropped 5.1% The VA share of total mortgage applications decreased to 13.2%

Low mortgage rates impact on the housing market

Housing Wire

This is the third installment of our economist Q&A series of the top housing market forecasts for 2021 that focus on everything from home sales to mortgage rates. Frank Nothaft Executive and Chief Economist at CoreLogic.

Women pay higher mortgage rates in 49 states

Housing Wire

In Mississippi, single women on average paid 3.47% on a 30-year, conventional fixed-rate mortgage in 2019. Over the lifespan of the mortgage, the single woman in this instance will have roughly $7,000 more in mortgage payments than the single man.

For the third week in a row, mortgage rates stay at 2.73%

Housing Wire

For the third week in a row, the average mortgage rate for a 30-year fixed loan remained unchanged at 2.73%, according to Freddie Mac ’s Primary Mortgage Market Survey. But, the run-up in Treasury rates has not impacted mortgage rates yet, which have held firm,” Khater said.

Do higher mortgage rates mark the end of the refi wave?

Housing Wire

Both Fannie Mae and Freddie Mac reported that refis made up about 70% of their mortgage activity in 2020, and, driven by weeks upon weeks of record low mortgage rates, refis accounted for 51% of all the volume LO’s funded in Q4, soaring 158% from the same period in 2019.

Mortgage rates drop even lower to new record of 2.65%

Housing Wire

mortgage rate for a 30-year fixed loan fell two basis points this week to 2.65% – the lowest rate in the Freddie Mac ’s Primary Mortgage Market Survey’s near 50-year history. This week’s mortgage rate broke the previous record set on Dec. The average U.S.

Alongside rising yields, mortgage rates increase to 2.79%

Housing Wire

The average mortgage rate for a 30-year fixed loan rose from its previous record low by 14 basis points this week to 2.79%, according to Freddie Mac ’s Primary Mortgage Market Survey. This marks the first time mortgage rates have risen in almost two months.

Mortgage applications decrease as rates move higher

Housing Wire

Mortgage applications decreased 1.9% 15 from one week earlier , per data from the Mortgage Bankers Association’s weekly survey. The FHA share of total mortgage applications decreased to 9.3% The VA share of total mortgage applications increased to 13.8%

Texas storm deflates mortgage application numbers

Housing Wire

Mortgage applications decreased 11.4% from one week earlier , according to data from the Mortgage Bankers Association’s weekly survey for the week ending Feb. ” The refinance share of mortgage activity decreased to 68.5%

Low, low mortgage rates make 19.4 million eligible for refi

Housing Wire

As mortgage rates sta y below 3% for the 17th consecutive week, a Black Knight report released Friday found that the number of “high quality” refinance candidates continues to climb. Looking at current mortgage rates, Black Knight estimates those 19.4

Refinance wave boosts mortgage applications 3.8%

Housing Wire

With mortgage rates continuing to hover near record lows, mortgage applications jumped 3.8% last week according to a report from the Mortgage Bankers Association (MBA). Mortgage rates continue to hover at record lows this fall.

It’s still really difficult to get a mortgage, but getting easier

Housing Wire

Mortgage credit is still the tightest it has been in more than six years, but steady loosening in January revealed lenders are preparing for a rebounding economy, the Mortgage Bankers Association said in a report on Tuesday. The group’s Mortgage Credit Availability Index rose 2% to 124.6

Mortgage rates fall to new record low at 2.71%

Housing Wire

mortgage rate for a 30-year fixed loan fell one basis point this week to 2.71%, Freddie Mac said in a report on Thursday – the lowest rate in the survey’s near 50-year history. The average fixed rate for a 15-year mortgage also fell last week to 2.26% from 2.28%. The average U.S.

Record low mortgage rates hold steady at 2.72%

Housing Wire

mortgage rate for a 30-year fixed loan remained unchanged at 2.72% this week, Freddie Mac said in a report on Thursday – the second week in a row rates have sat at the lowest recorded level in the survey’s near 50-year history. The average U.S.

Mortgage rates hit another record low at 2.67%

Housing Wire

mortgage rate for a 30-year fixed loan fell four basis point this week to 2.67% – the lowest rate in the Freddie Mac ’s Primary Mortgage Market Survey’s near 50-year history. This week’s mortgage rate broke the previous record set on Dec. The average U.S.