Mortgage rates soar on inflation news
For the first time since mid-December, the Freddie Mac survey reports mortgage rates over 6.7%.
Originations
Fannie Mae’s earnings up along with higher home values
The company was able release credit reserves because of actual and forecasted prices that boosted net income, CEO Priscilla Almodovar said.
Freddie Mac’s profits rise with steadying home price growth
The government-sponsored enterprise financed 955,000 mortgages last year, down from the 1.8 million loans it backed in 2022.
Lower mortgage rates drive increased locks, including refis
January volume increased 36% compared to the month before and the annual decline in activity was the lowest in almost two years, Optimal Blue said.
Lenders weigh sports marketing as Rocket, UWM skip Super Bowl
Only a few dozen mortgage firms could likely afford the $7 million ad for this year's big game, a marketing veteran said.
Mortgage rates flat in spite of Treasury yield spikes
While the Freddie Mac survey reported just a 1 basis point increase from last week, Zillow's tracker found a 30 basis point rise in the 30-year fixed, more reflective of what happened in the bond market.
Credit monitoring may boost borrower sales, performance
The majority of users are looking for new credit lines and others want to improve their scores. Credit monitoring by consumers may be a good indicator of both, Transunion found.
Mortgage rates slip again on positive economic outlook
As a result, a robust housing market is now on the horizon, Freddie Mac chief economist Sam Khater declared.
FOMC leaves rates unchanged, drops tightening language
A key Senator had urged Fed Chairman Jerome Powell to lower rates early this year, but although there's more consensus on making such a move, it now looks unlikely to happen until after the next meeting.
Home buyers can afford $40K more house, Redfin finds
A potential buyer with a budget of $3,000 per month for their payments is now able to afford an approximately $453,000 home.
Consumer spending behind Fannie’s change on recession
Its January forecast reverses the call first made in April 2022 that the U.S. economy would slip into an extended downturn.
Capital rule’s impact on mortgage risk offsets worries industry
A common concern in housing finance reactions has been the lack of accommodation for strategies routinely used to manage credit, rate and liquidity exposures.
Mortgage applications for new homes keep rising
Lending activity among builders surged over 22% annually in December, but the growing share of FHA-backed borrowing in the segment took a step back for the first time in four months, the Mortgage Bankers Association said.
David Stevens, mortgage icon, dead at 66
The former Obama administration official and MBA head died unexpectedly on Jan. 16.
Mortgage rates up following inflation report
For the past week, the benchmark 10-year Treasury closed above 4%, as the markets priced in an increase in the consumer price index.
United Wholesale Mortgage, Pennymac downgraded by KBW
Both companies saw their stock rating cut because of their current valuation, similar to why Rocket's was previously dropped. They declined comment on the move.
Mortgage credit at tightest in over 10 years
Industry consolidation has resulted in fewer conventional and government loan programs being offered to consumers.
Mortgage rate sentiment jumps to survey-record high
December's shift in Federal Reserve policy gave a notable boost to the share of consumer respondents who think the affordability of home financing will improve.
Rocket Mortgage’s prospects dim in purchase market, analyst states
Low refinance volume creates a "relative disadvantage" for Rocket, which historically had a much larger share of that market versus purchase, a note by Bose George, analyst at Keefe, Bruyette & Woods, said.
Mortgage application volumes decrease to close out 2023
The end-of-year slowdown comes after a recent fall surge, but overall activity still finished 6% below late 2022 levels, according to the Mortgage Bankers Association.
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