Mortgage activity flattens as buyers take wait-and-see approach
Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.
Housing markets
The majority of homeowners have mortgage rates below 6%
About 85% of U.S. homeowners have interest rates below 6%, while a little over 50% of homeowners have a rate below 4%, Redfin's report said.
Multifamily lending sees steep pullback
While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.
Feds team up to take on bad solar lending practices
The Treasury, CFPB and Federal Trade Commission are joining forces to warn consumers about predatory practices in financing solar energy panels.
Renter households growing far faster than homeowners
The country's renter population is dramatically outpacing the growth in homeowner households due to a multifamily construction boom that's limited price gains.
Median monthly payment on a new mortgage drops
Moderating price growth and higher wages are leading to affordability relief, according to the Mortgage Bankers Association.
Former Fannie chief Frater named to Bipartisan Policy Center board
Hugh Frater was one of four appointed to the Bipartisan Policy Center board, along with former Philadelphia Mayor Michael Nutter, a co-chair of its Housing Council.
Mortgage volume flattens despite elevated purchase lending
Declining refinance activity offset the growth in government-backed purchases, the Mortgage Bankers Association said.
Banc of California is selling $2 billion of residential loans
The bank acquired these business purpose non-qualified mortgage loans originated by Civic Financial Services in the PacWest Bancorp deal.
Multifamily finance sees improving investment conditions
A decline in interest rates during the first quarter drove a Freddie Mac indicator higher for the first time since mid-2023, while a leading investment firm announced a deal aimed at boosting originations for government-sponsored enterprise financing.
Mortgage application activity rebounds with 16% surge
Homeowners responded to moderating interest rates and brought in significantly more refinance volume, with Department of Veterans Affairs numbers more than doubling from the prior week.
Mortgage lock volumes trend upward amid market uncertainty
Rate locks have increased every month this year, but May's pace came in more subdued than early-year numbers, according to Mortgage Capital Trading.
Consumer sentiment lowest since post-Great Financial Crisis
A Fannie Mae survey-high 86% of prospective buyers said it was a bad time to buy a home in May.
Home price growth moderates as inventory improves
Despite the surge of inventory, the number of available homes is still below pre-pandemic levels, while price movements show wide regional variations, ICE Mortgage Technology said.
What Fannie Mae predicts for 2024
Fannie Mae economists suggest home sales will remain resilient amid anticipated dips in both home loan volume and consumer spending.
Investor purchases increase for first time in 2 years
Compared to a year ago, investors bought a greater number of properties and made up a larger share of overall purchases, returning to the market faster than individual buyers, according to Redfin.
Home equity level hits a new record high
Price growth is decelerating but still driving historic home equity gains for owners and widening the gap between the haves and have-nots in housing, ICE finds.
Pending home sales bounce back after slumping in January
The Midwest was the main driver of the increase in pending sales, with a 10.6% jump, while contract signings in the South edged up 1.1%.
Mortgage rates to stay elevated on inflation worries, Freddie says
The 30-year fixed rate mortgage, the movements of which have been volatile in recent weeks, is expected to stay in the range of 6.5% for the first half of the year before trending down, Freddie Mac said.
Mortgage rates to stay over 6% for next two years, Fannie Mae says
Fannie Mae's latest forecast now predicts rates to be half a percentage point higher, and volume to be $1.5 trillion lower than previously expected in 2024.
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