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. The refinance share of mortgage activity increased to 72.7%

Mortgage rates hold steady at 2.77%

Housing Wire

The average mortgage rate for a 30-year fixed loan fell two basis points last week to 2.77%, according to Freddie Mac ’s Primary Mortgage Market Survey. The 15-year fixed mortgage rate also shifted downward to 2.21

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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 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%

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%

United Wholesale Mortgage makes public debut

Housing Wire

After ringing the bell of the New York Stock Exchange on Friday morning, Mat Ishbia’s United Wholesale Mortgage (UWM) is a publicly traded company. UWM, the second-largest mortgage originator in America , debuted trading at $11.95.

New-year optimism reflected in mortgage applications jump

Housing Wire

Mortgage applications jumped 16.7% drop last week , according to the Mortgage Bankers Association. The 30-year fixed mortgage rate climbed two basis points to 2.88%, but the 15-year fixed rate fell to 2.39% — a survey low. after a 4.2%

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 applications decline 4.8%

Housing Wire

Mortgage applications fell 4.8% last week, according to a report from the Mortgage Bankers Association. The refinance share of mortgage activity also faltered slightly, dropping to 63.3% The adjustable-rate mortgage (ARM) share of activity remained unchanged at 2.2%

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 increase for second straight week

Housing Wire

Borrowers looking to refinance their VA and FHA loans contributed to another uptick in mortgage applications for the week ending Dec. 18, according to the latest report from the Mortgage Bankers Association. Mortgage applications jumped 0.8%

Mortgage applications drop over holidays

Housing Wire

Mortgage applications dropped 4.2% from two weeks prior , according to the latest report by the Mortgage Bankers Association. But mortgage applications dropped during the week ending Jan. The FHA share of total mortgage applications remained unchanged from 10.1%

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.

Rocket Mortgage performs first eNote close on Ginnie Mae mortgage

Housing Wire

In December, Rocket Mortgage became the first lender to use eNotes in closing a Ginnie Mae -backed loan as part of a pilot program. Ginnie Mae launched the pilot program in 2019, paving the way for the agency to accept eNotes as satisfactory collateral for its mortgage-backed securities.

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.

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. Presented by: VRM Mortgage Services.

Should you refinance to a 15-year mortgage in 2021?

Housing Wire

For many middle-aged and older homeowners with several years of equity on their homes, 2021 could be a prime time to refinance from a 30-year fixed-rate mortgage into a 15-year mortgage. Why head into retirement with a mortgage? 5 reasons to refinance your mortgage right now.

7 things that have changed forever in the mortgage industry

Housing Wire

The mortgage industry has not traditionally been the vanguard of digital adoption, particularly in data intelligence and applied machine learning. The mortgage industry has been forced to respond to the massive and sudden work-from-home mandates.

Mortgage applications drop for second straight week

Housing Wire

The Mortgage Bankers Association reported that applications decreased 1.2% The refinance share of mortgage activity decreased to 72% of total applications, up from 69.5% The post Mortgage applications drop for second straight week appeared first on HousingWire.

Mortgage underwriting challenges in the pandemic

Housing Wire

For mortgage underwriting, credit scores became more important than ever in 2020 when dealing with lenders. Not only were mortgage rates high for borrowers with under-700 credit scores, many lenders began charging “discount points” for low credit.

Mortgage applications see slight decline despite 3% mortgage rate

Housing Wire

Mortgage applications held relatively steady last week, falling 0.7% from the week prior, according to a report from the Mortgage Bankers Association. Refinances also continued to inch closer to two-thirds share of mortgage activity as they increased to 65.6%

Could 2% define mortgage rates for the next decade?

Housing Wire

The end of 2020 won’t necessarily mean saying goodbye to the favorable 2% mortgage rates that hit historically low levels 16 times over the past 12 months. Low mortgage rates fuel the demand for valuation and settlement services. Presented by: VRM Mortgage Services.

Mortgage forbearance rate continues to drop

Housing Wire

forbearance rate fell nine basis points last week to 5.37% of servicers’ portfolio volume, according to a survey from the Mortgage Bankers Association on Monday. The post Mortgage forbearance rate continues to drop appeared first on HousingWire. The U.S.

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.

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.

How record-low mortgage rates changed everything in 2020

Housing Wire

While the United States may not have been prepared to combat a deadly virus, a quick and robust response from the Federal Reserve , along with changing consumer preferences, created a perfect storm that resulted in a record year for the housing and mortgage industries.

Average mortgage rates tick up this week

Housing Wire

mortgage rate for a 30-year fixed loan is 2.9% The average rate for the less-popular 15-year mortgage was 2.4%, rising from last week’s record low of 2.35%, the mortgage giant said. The post Average mortgage rates tick up this week appeared first on HousingWire.

Ginnie Mae will ban LIBOR-based mortgages

Housing Wire

Ginnie Mae , the government-owned corporation that securitizes loans backed by the Veterans Administration and the Federal Housing Administration , said it won’t accept adjustable-rate mortgages benchmarked to the London Interbank Offer Rate, or LIBOR, starting in January.

Mortgage forbearance rate ticks up to 5.49%

Housing Wire

forbearance rate measuring the share of mortgages with suspended payments increased for the second time in nearly six months from 5.48% to 5.49%, according to the Mortgage Bankers Association. The post Mortgage forbearance rate ticks up to 5.49% appeared first on HousingWire.

400,000 mortgage borrowers are “needlessly delinquent”

Housing Wire

There are about 400,000 mortgage borrowers “needlessly delinquent” as a result of the COVID-19 pandemic who did not use available forbearance options, according to a report from the Urban Institute. The post 400,000 mortgage borrowers are “needlessly delinquent” appeared first on HousingWire.

Average U.S. mortgage rate drops to 2.87%

Housing Wire

mortgage rate for a 30-year fixed loan is 2.87% this week, dropping one basis point from last week’s 2.88% , Freddie Mac said in a report on Thursday. The average fixed rate for a 15-year mortgage was 2.37%, rising one basis point from last week’s 2.36%, the mortgage securitizer said.

UWM now offering ultra-low mortgage rates on FHA loans

Housing Wire

Ahead of its initial public offering slated for mid-December, United Wholesale Mortgage is offering mortgage rates below 2% on FHA loans through its Conquest Program. The rates will be available on FHA purchase mortgages, FHA rate and term refinances, and FHA streamline refinances.

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.

Holiday week sees drop in mortgage applications

Housing Wire

The Mortgage Bankers Association reported that applications dropped 0.6% Kan added that a sustained period of low mortgage rates continues to “spark borrower demand,” leading to the mortgage industry being poised for its strongest year in originations since 2003.

2021 means new challenges for mortgage lending

Housing Wire

As we think about coming out of this first month of the year, we’ve quickly realized this year is going to be anything but planned or what we in the mortgage lending industry are used to. The post 2021 means new challenges for mortgage lending appeared first on HousingWire.