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Mortgage demand slumps over the holidays

Housing Wire

“The housing market has been hampered by a limited supply of homes for sale, but the recent strength in new residential construction will continue to help ease inventory shortages in the months to come,” Kan added. The share of Federal Housing Administration (FHA) loan activity decreased to 14.5% from 15% the week prior.

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HUD seeks public comment on updates to reverse mortgage documents

Housing Wire

HUD also seeks to transition away from the discontinued Fannie Mae Form 1009, the residential loan application for reverse mortgages, to Form 1003, the Uniform Residential Loan Application (URLA). Department of Veterans Affairs (VA) loans, the notice said. Why are we on a 1009?

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MBA: Mortgage apps decline 2.3% to four-year low

Housing Wire

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 the prior week, and the VA loan share dropped to 10.2% Total originations are expected to tumble more than 35% to $2.5

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Mortgage apps decline 6.5% to 22-year low

Housing Wire

In May, the inventory of homes for sale rose 8%, marking the first rebound since June 2019. the prior week, and the Veterans Affairs (VA) loan share climbed to 11.4% The survey, conducted since 1990, covers more than 75% of the retail residential mortgage applications. from 10.8% from 10.2% a week earlier.

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Could the assumable mortgage level the playing field?

Housing Wire

In a paper published by the Urban Institute in October, Ted Tozer, the former head of Ginnie Mae , argued that government changes to assumable loans could benefit the market. There’s also the matter of handling piggyback mortgages since the sales price in most deals will exceed the mortgage’s unpaid balance.

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Mortgage apps decline as first-time buyers pull back from the market 

Housing Wire

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. retail residential mortgage applications. from 12.8% in the same period. ”

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In the Military and Selling a House: Programs and Resources for Service Members

HomeLight

Here are some options for pulling a successful sale, regardless of where you stand on your mortgage. This minimum equity ensures that you’ll have the funds for necessary home sale expenses (such as staging , repairs , and closing costs ), plus some leftover profit to put towards your next down payment or security deposit.

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