Housing Wire

MAY 25, 2023

The debt limit fight between the Republican-controlled House of Representatives and President Joe Biden’s White House is adding pressure to a shrinking mortgage market. Freddie Mac ‘ s Primary Mortgage Market Survey showed the 30-year fixed-rate mortgage averaged 6.57% as of May 25, up 18 basis points from last week’s 6.39%.

Mortgages 405

Mortgages Fixed-rate mortgage Investor Loans 405

Housing Wire

MAY 18, 2023

Mortgage rates increased this week as the debt limit impasse between the Republican-controlled House of Representatives and President Joe Biden ’s White House continues to cause uncertainties within the market. The 30-year fixed rate for conventional loans was 6.70% at Mortgage News Daily as of Thursday morning. debt limit.

Mortgages 401

Mortgages Fixed-rate mortgage Loans Marketing 401

Housing Wire

FEBRUARY 21, 2023

Mutual of Omaha Mortgage (MOM) has acquired the assets of Keller Mortgage – the lending arm of real estate holding company kwx – for an undisclosed amount. Keller Mortgage will be operated as an independent division alongside Mutual of Omaha’s existing forward and reverse mortgage division, MOM said in an e-mailed response.

Mortgages 367

Mortgages Lending Loans Finance 367

Housing Wire

MAY 24, 2023

debt ceiling impasse and the resilient economy led mortgage rates to climb to the highest level in two months. The latest MBA data published on Wednesday morning shows that mortgage loan applications decreased 4.6% retail residential mortgage applications. Last week, the U.S. of total applications last week from 6.5%

Mortgages 395

Mortgages Loans Residential Investor 395

Housing Wire

APRIL 9, 2023

The housing market welcomed the news of lower mortgage rates last week after four reports showed that the labor market isn’t as tight as it seems and that the fear of 1970s-entrenched inflation was a lousy narrative. Mortgage rates started last week at 6.44% and fell to a low of 6.16% , then ended the week at 6.34%.

Mortgages 540

Mortgages Marketing Sales Banks 540

Housing Wire

APRIL 6, 2023

Mortgage rates fell again this week, but the primary cause was not the banking crisis fiasco. According to Freddie Mac ’s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage declined to 6.28% as of April 4, down from 6.32% the previous week. range mid-week, and mortgage rates also tracked lower,” Jones added.

Mortgages 488

Mortgages Fixed-rate mortgage Loans Investor 488

Housing Wire

MAY 30, 2023

Swiss bank UBS Group AG plans to wind down a business in its US mortgage unit that focuses on “to-be-announced” (TBA) trading, Bloomberg reported late last week. We are fully committed to our lending business, which supports independent mortgage originators,” UBS spokesperson Erica Chase told Bloomberg in an email.

Mortgages 351

Mortgages Closing Banks Lending 351

Housing Wire

MAY 17, 2023

The best way to fight inflation and get lower mortgage rates is to get more apartment units finished, and so far, this has been slower than my tortoise Grundy. The faster we get 5-unit construction finished, the better we can fight against inflation and get lower mortgage rates. Why is this the case?

Mortgages 480

Mortgages Construction Residential Marketing 480

Housing Wire

MAY 11, 2023

This week’s mortgage rates declined slightly, continuing a recent “sideways trend” at the low 6% mark. Per Freddie Mac ‘s Primary Mortgage Market Survey, the 30-year fixed-rate mortgage averaged 6.35% as of May 11, down four basis points from last week’s 6.39%. The Consumer Price Index (CPI) rose 4.9%

Mortgages 381

Mortgages Fixed-rate mortgage Construction Banks 381

Housing Wire

MAY 30, 2023

The debt ceiling deal struck by President Joe Biden and House Speaker Kevin McCarthy on Saturday represents momentary relief for the mortgage market , as it reduces the chances of a federal government default. “However, the spreads between the 10-year yield and 30-year mortgage rates have worsened since the banking crisis started.

Mortgages 386

Mortgages Loans Banks Marketing 386

Housing Wire

MAY 4, 2023

“I haven’t seen a dry spell like this in the time I’ve been in business,” Bob Yopko, president of First Equity Residential Mortgage , said of this year’s spring homebuying season. Mortgage rates tend to align with the 10-year U.S. “Mortgage rates should be 5.55%, not 6.5%,” he said.

Mortgages 378

Mortgages Loans Residential Equity 378

Housing Wire

FEBRUARY 8, 2023

Homelendia Mortgage LLC, a Florida-based mortgage brokerage franchisor, launched its mortgage brokerage franchises this week, offering individual unit and regional opportunities to qualified individuals, teams, brokerages and loan originators. That changes now,” Homelendia CEO Frank Chimento said in a press release.

Brokerage 337

Brokerage Mortgages Loans Lending 337

Housing Wire

MAY 22, 2023

Residential mortgage industry analysts and executives continue to see challenges ahead. For starters, the banking crisis is still unfolding, impacting the mortgage-backed securities (MBS) space, reducing jumbo loan offerings, and putting pressure on commercial real estate companies. Even if the U.S. Even if the U.S.

Mortgages 409

Mortgages Industrial Banks Loans 409

Housing Wire

JANUARY 27, 2023

On the other hand, mortgage rates have gone down more than 1% since Oct. The builders’ stock prices have done well as mortgage rates have fallen , and this illustrates the simplicity of the homebuilders’ position: their story is really about mortgage rates and moving products. But since Oct.

Mortgages 538

Mortgages Sales Construction Marketing 538

Housing Wire

APRIL 26, 2023

With few homeowners willing to give up their low mortgage rates, Mike Roberts has shifted his focus to targeting first-time homebuyers. A first-time homebuyer requires a tremendous amount of nurturing,” said Roberts, the president and founder of City Creek Mortgage. “A Niche loans consist of about 5% of Parkinson’s business. “It’s

Mortgages 414

Mortgages Loan Officer Loans Closing costs 414

Housing Wire

APRIL 26, 2023

Higher mortgage rates did not scare away potential homeowners last week. Plenty of buyers, but not enough homes for sale,” California-based mortgage loan officer Dan Stone, who works with hundreds of mortgage lenders, told HousingWire. The latest Mortgage Bankers Association (MBA) report confirms Stone’s perceptions.

Mortgages 413

Mortgages Loans Fixed-rate mortgage Loan Officer 413

Housing Wire

MAY 3, 2023

30-year fixed mortgage rates declined slightly last week, the first rate drop in three weeks, but it wasn’t enough to boost mortgage demand. Mortgage applications fell last week by 1.2% The 30-year fixed rate decreased five basis points to 6.5% the previous week.

Mortgages 398

Mortgages Fixed-rate mortgage Loans Lending 398

Housing Wire

MAY 8, 2023

I was tired of fighting with mortgage lenders about self-employment income, high-interest rates , and dealing with scarce inventory that fit our family’s needs. To overcome the disparity in my income, my father agreed to be our co-borrower on the mortgage assumption application. I am not a veteran, but I did assume a VA mortgage.

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Housing Wire

FEBRUARY 8, 2023

During the week that mortgage rates very briefly touched down into the 5% range, mortgage applications increased 7.4%, according to the latest reading from the Mortgage Bankers Association. Still, mortgage demand is down 58% from a year prior. Mortgage rates fell to 5.99% on Thursday, Feb. last week, up from 31.2%.

Mortgages 361

Mortgages Fixed-rate mortgage Loans Marketing 361

Housing Wire

MAY 17, 2023

Borrowers’ demand for home loans slowed down last week as mortgage rates increased to their highest level in two months. ” In the mortgage market, the latest Mortgage Bankers Association (MBA) data published on Wednesday morning showed that loan applications decreased by 5.7% retail residential mortgage applications.

Mortgages 343

Mortgages Loans Residential Banks 343

Housing Wire

MAY 16, 2023

Wells Fargo -backed mortgage fintech Maxwell has struck a deal to acquire mortgage solutions provider LenderSelect Mortgage Group from Blue Ridge Bank. ” Richmond, Virginia-based LenderSelect Mortgage Group, which provides mortgage loan solutions to lenders, closed its sale to Blue Ridge Bankshares Inc.

Mortgages 356

Mortgages Due diligence Loans Banks 356

Housing Wire

JANUARY 11, 2023

Loan officers saw an increase in mortgage demand during the first week of 2023 as mortgage rates ticked down. According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2% According to the Mortgage Bankers Association (MBA), mortgage applications rose 1.2%

Seller concession 529

Seller concession Mortgages Loan Officer Loans 529

Housing Wire

APRIL 20, 2023

Interest rates for mortgage loans broke five straight weeks of declines caused by the bank crisis. For the first time in over a month, mortgage rates moved up due to shifting market expectations,” Sam Khater , Freddie Mac ’s chief economist, said in a statement. in the first week of April to 3.6%

Mortgages 409

Mortgages Loans Banks Marketing 409

Housing Wire

MAY 9, 2023

National Mortgage Insurance Corporation (National MI) announced on Tuesday its integration with Vesta , a loan origination system (LOS) provider and software-as-a-service company. ” National MI’s API platform lets lenders and LOS providers quickly and seamlessly retrieve accurate mortgage insurance quotes through Rate GPS. .”

Mortgages 330

Mortgages Loans Investor Technology 330

Housing Wire

APRIL 18, 2023

What is the best news for mortgage rates long-term? More supply of apartments coming on line will be good news for mortgage rates going forward. Of course, once we get lower mortgage rates, that should help the builders sell more homes. This is key for mortgage rates looking out for years to come.

Mortgages 508

Mortgages Construction Marketing As-is 508

Housing Wire

APRIL 10, 2023

After four years of Congress hiking Veterans Administration (VA) so-called “Bluewater Navy” mortgage loan fees as an offset to pay for other critical veterans’ benefits, Congress has finally let those excessive VA mortgage loan fees expire. Mortgage loan fees should not be higher than needed to safely run government-backed lending.

Mortgages 416

Mortgages Loans FHA loan VA loan 416

Housing Wire

MAY 3, 2023

In turn, economists and housing industry experts have now turned their attention toward the June meeting, as that decision will dictate the future movement of mortgage rates. The Fed’s move on Wednesday was well anticipated and should not cause a major shift in mortgage and other interest rates, experts noted.

Mortgages 397

Mortgages Debt-to-income ratio Fixed-rate mortgage Banks 397

Housing Wire

MAY 31, 2023

Higher mortgage rates caused by the debt ceiling drama and resilient inflation reduced demand for home loans last week, affecting the already depressed refinancings in particular, according to the latest Mortgage Bankers Association (MBA) data. retail residential mortgage applications. last week from 12.5%

Mortgages 318

Mortgages Fixed-rate mortgage Loans Residential 318

Housing Wire

MARCH 22, 2023

Consumer demand for home loans rose for the third consecutive week due to declining mortgage rates , following the turbulence in the financial markets caused by regional bank failures. ” Borrowers took advantage of lower rates and mortgage applications rose 3% on a seasonally adjusted basis from one week earlier. .

Mortgages 386

Mortgages Loans Banks Brokerage 386

Housing Wire

FEBRUARY 22, 2023

The Federal Housing Administration (FHA) on Wednesday morning announced a 30 basis point reduction in the annual premium charged to mortgage borrowers. The cut, widely anticipated by the industry, will result in mortgage insurance premiums (MIP) of 55 bps for most borrowers, down from 85.

Mortgages 482

Mortgages FHA loan Industrial Loans 482

Housing Wire

FEBRUARY 22, 2023

It’s proving to be a brutal February for the mortgage industry, with mortgage demand falling for the third time in four weeks. At a time when purchase activity typically ramps up, the latest mortgage application data is showing that mortgage demand is dropping due to mortgage rates climbing back up. of the total.

Mortgages 346

Mortgages Fixed-rate mortgage Loans Investor 346

Housing Wire

MAY 10, 2023

The expectation that the Federal Reserve might be done with hiking rates spurred the mortgage market last week. The MBA data shows that mortgage applications increased 6.3% retail residential mortgage applications. Borrowers’ demand followed a decrease in mortgage rates. for the week ending May 5 from one week earlier.

Mortgages 376

Mortgages Loans Residential Marketing 376

Housing Wire

APRIL 12, 2023

Top wholesale lender United Wholesale Mortgage (UWM) is yet again ramping up efforts to gain more market share at the cost of potential profits. Known as the “Conventional 1% Down,” the product is essentially a 3% down mortgage in which UWM pays an additional 2% — up to $4,000 — on top of the borrower’s 1% down payment.

Mortgages 429

Mortgages Loans Agents Marketing 429

Housing Wire

JANUARY 9, 2023

With a challenging year ahead, the professional services company affiliated with Rocket Mortgage has decided to restructure the marketing team in the first week of 2023, resulting in about 20 jobs cut, according to former employees. . Rocket Mortgage, like all mortgage lenders , was hurt by surging mortgage rates in 2022.

Mortgages 490

Mortgages Marketing Loans Loan Officer 490

Housing Wire

APRIL 27, 2023

Mortgage rates are trending up ahead of the Federal Reserve’s meeting next week, with the FOMC expected to increase the federal funds rate. The prospect of lower mortgage rates for the remainder of the year should be welcome news to borrowers who are looking to purchase a home.”

Mortgages 377

Mortgages Fixed-rate mortgage Loans Closing costs 377

Housing Wire

JULY 15, 2022

Rocket Companies ‘ subsidiary Edison Financial will rebrand as Rocket Mortgage next month in Canada, a market with more than $760 billion (CAD) in mortgage originations annually. Windsor, Ontario-based Edison Financial will officially change its name to Rocket Mortgage Canada and operate as Rocket Mortgage on August 8.

Mortgages 408

Mortgages Brokerage Loans Lending 408

Housing Wire

MARCH 16, 2023

How is today’s housing starts data , which beat expectations, good for mortgage rates ? Regarding mortgage rates and bonds, since the banking crisis started with a run on Silicon Valley bank last week , bond yields have been heading lower and are now testing my Gandalf line in the sand of 3.42%. That isn’t happening right now.

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Mortgages Construction Banks Sales 509