Rate spike mutes mortgage application activity with one exception
A slight lift in the purchase market paired with a surprising reversal in the size of the average loan, according to the Mortgage Bankers Association.
Purchase
Why the spring selling season may be obsolete
With pandemic conditions in place for a second spring, lenders and brokers discuss the indicators that will reveal whether the market is shifting away from the traditional selling season to one that runs hot throughout the year.
Fannie Mae’s 2020 earnings fall due to COVID-related credit expenses
While its net income declined annually for the second consecutive year, CEO Hugh Frater touted Fannie Mae’s resiliency in a record year for providing mortgage liquidity.
Freddie Mac’s 2020 earnings rose as it delivered ‘record liquidity’
The company purchased $1.1 trillion of single-family mortgages and $83 billion of multifamily loans during 2020.
Why Fannie Mae’s appetite for green single-family loans is growing
Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.
Mortgage apps dip as conforming rate inches up, loan amounts soar
While financing costs are still low enough to offset sticker-shock from rising home prices, a slight increase in the average 30-year conforming rate weighed on borrowers, according to the Mortgage Bankers Association.
Mortgage applications decrease as rising rates temper refi volume
Mortgage applications decreased 1.9% from one week earlier as rising rates started to affect refinance activity, according to the Mortgage Bankers Association.
Prime jumbo mortgage lending by nonbanks set to grow in 2021
Upcoming changes to underwriting regulations, as well as the end of the QM patch, in addition to growing home values, all add up for this market to have a good year.
Median home purchase mortgage payment sank to 2020 low in November
Falling interest rates more than canceled out median home listing prices, reaching an all-time time high during the month, Redfin said.
FHA’s Dana Wade takes issue with 2021 loan limits
The head of the Federal Housing Administration said Congress should consider whether to continue allowing the loan floor and ceiling to remain tied to changes in the conforming mortgage limit.
Mortgage application volume flat on steep drop in government refis
Mortgage applications slipped 0.3% from one week earlier, as refinance volume, particularly for Federal Housing Administration and Veterans Affairs loans, shrank significantly, according to the Mortgage Bankers Association.
Mortgage applications rise as refinance volume continues to grow
Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.
Home prices surge to 6-year high, but declines are predicted for 2021
With a dearth of inventory, September generated the largest price growth in the housing market since May 2014, according to CoreLogic.
Mortgage rates down a percentage point from five years ago
Mortgage rates fell this week to another record low, and are now over a full percentage point below where they were five years ago, according to Freddie Mac.
Purchase volume to hit record highs over the next 3 years: MBA
But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.
Mortgage applications dip, but low rates keep buyer demand strong
Mortgage applications decreased 0.6% from one week earlier, although a slight drop in purchase volume belied the fact that consumers are taking advantage of the current rate environment, according to the Mortgage Bankers Association.
Mortgage rates hit another all-time low, but will consumers benefit?
Just a week after commenting that the bottom on mortgage rates was possibly reached, Freddie Mac reported that they fell 6 basis points to another record low.
Mortgage application activity slows, but buyer demand to stay robust
Mortgage applications decreased 0.7% from one week earlier, but lending activity should continue strong for the remainder of the year as rates stay low, according to the Mortgage Bankers Association.
Downshift expected for 2021, as home prices spike in August: CoreLogic
Low mortgage rates and strained supply drove the housing market price growth to a 26-month high in August, according to CoreLogic.
Mortgage rates remain under 3% despite positive economic news
Mortgage rates fell back toward their all-time low this week, increasing purchasing power for homebuyers. But the lack of homes for sale drives up prices and reduces affordability, according to Freddie Mac.
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