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Industry News
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Featured Items
- Weekly Mortgage Applications Soar 30% as Homebuyer Demand Hits the Highest Level in 11 Years
- Purchase application volume hit the highest level since October 2009, rising 16% for the week and 8% from a year ago, according to Mortgage Bankers Association data. learn more
- Mortgage Rate Forecast for 2020: Experts Predict Low Rates Will Last
- If you’re looking to buy a home or refinance your current one in the new year, there’s good news: Today’s low mortgage rates are expected to continue into 2020. learn more
- Mortgage Rates Plunge to 3-Month Lows Amid Iran Drama
- If you’ve been holding out for better mortgage rates, that wait is over. learn more
- Mortgage Rates Hit 13-Week Low in Wake of Iran Crisis
- According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to 3.64 percent with an average 0.7 point. learn more
- GSEs Might Operate Under Consent Decree, Calabria Says
- Federal Housing Finance Agency Director Mark Calabria raised the possibility Wednesday that Fannie Mae and Freddie Mac could operate under a consent order once they are freed from conservatorship while the government-sponsored enterprises raise additional capital. learn more
- Low Mortgage Rates Forecast for 2020
- The average rate for a 30-year fixed-rate mortgage ended 2019 nearly a point lower than the previous year and low rates for home loans are expected to continue through 2020, according to forecasts. learn more
- Fed Minutes Show Comfort with Prolonged Pause on Rates
- Federal Reserve officials indicated they were in no hurry to reverse last year’s rate cuts when they met in mid-December and appeared comfortable holding interest rates steady in the months ahead. learn more
- Foreclosure Starts Fall to Lowest Level This Century: Black Knight
- November’s foreclosure starts hit their lowest level since Black Knight started tracking this data in 2000, while the foreclosure rate reached a 14-year low. learn more
- Housing Market 2019: What a Difference a Year Sometimes Makes
- Housing cycles are generally very long, with upward trends often lasting years or even decades, but in some respects 2019 was an exception to the norm. learn more
- SALT Relief: House Votes to Kill Cap on Property Tax Deductions
- The bill, HR 5377, passed Thursday by a 227-196 vote. It nixes the provision in the 2017 Republican tax bill that set a $10,000 cap on state and local taxes, known as SALT, that can be used as federal deductions. learn more
- Mortgage Lenders Are Now in the Experience Business
- It is evident that lenders are no longer in the mortgage business but are now in the experience business. learn more
- FHFA Proposal Would Exempt Federal Home Loan Banks from Stress Tests
- The Federal Housing Finance Agency has proposed a plan that would exempt the Federal Home Loan Banks from conducting stress tests. learn more
- Low Mortgage Rate Trend Continues to Stir Up Mortgage Applications
- The volume of mortgage loan applications rose as the 30-year fixed mortgage rate remained under 4% for the fourth consecutive week, according to the Mortgage Bankers Association. learn more
- Credit Standards are Loosening: Buyers May Now Find it Easier to Get a Mortgage
- According to new data from the Mortgage Bankers Association, it’s getting easier to get a mortgage. learn more
- The Median Age of Homebuyers is Now 47. How Did That Happen?
- Despite recent data that younger generations are beginning to buy houses, on the whole, those same generations are waiting far longer than their parents did to buy their first house. learn more
- Home Price Growth Slowed in October, Spike Expected Next Year
- October’s deceleration in housing values could be followed by acceleration in 2020, but a growing subset of millennials nevertheless plan to become homeowners in the new year, according to CoreLogic. learn more
- Mortgage Rates Increased over the Last Week–And That Could Put a Damper on the Housing Market
- The real estate market has been slow to respond to the low interest rate environment, and rates appear to be on an upward trajectory. learn more
- Supreme Court to Hear CFPB Constitutionality Case in March
- The Supreme Court on Tuesday said it will hear arguments March 3 in a case challenging the constitutionality of the Consumer Financial Protection Bureau’s leadership structure. learn more
- Low Mortgage Rates Will Push Home Lending to 12-Year High
- Low mortgage rates will push home lending this year to a 12-year high of $2.07 trillion, the Mortgage Bankers Association said in a forecast. learn more
- Independent Mortgage Banker Profits Near 7-Year High
- Profits for independent mortgage banks and mortgage subsidiaries of chartered banks hit an almost seven-year high in the third quarter, according to a new report from the Mortgage Bankers Association. learn more
- Mortgage Rates Fall to Lowest Level in Six Weeks
- According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average fell to its lowest level in six weeks, declining to 3.66 percent with an average 0.6 point. learn more
- In 2020, Home Sales to Rise But Refinancing to Dip, Mortgage Bankers Say
- Geopolitical uncertainty and a slowdown in the global economy influenced financial market fluctuations this year, which in turn led to lower mortgage rates, according to Mike Fratantoni, chief economist for the Mortgage Bankers Association learn more
- Mortgage Rates are Increasing Again–So Why Did More People Apply for Home Loans?
- Despite the fact that mortgage rates have risen in four of the last five weeks–which makes buying a home a relatively more expensive proposition–interest in buying a home does appear to be increasing. learn more
- Fed’s Powell Signals Comfort With Current Interest-Rate Stance
- Federal Reserve Chairman Jerome Powell told lawmakers the central bank saw little need to cut interest rates further after making three reductions since July. learn more
- Congress Considers Fix to QM Patch
- Congress will consider legislation on Wednesday to fix the so-called QM Patch that permits some loans to borrowers with high debt levels to be considered Qualified Mortgages. learn more
- People Are Staying in Their Homes Longer—a Big Reason for Slower Sales
- U.S. homeowners are staying in their residences much longer than before, keeping a glut of housing inventory off the market, which helps explain why home sales have been sputtering. learn more
- Mortgage Rates Move Higher for Third Week in a Row
- Mortgage rates continued to climb this week but could be headed lower. learn more
- Fannie Mae, Freddie Mac Unveil New Mortgage Application Form
- Fannie Mae and Freddie Mac this week unveiled the redesigned Uniform Residential Loan Application, following a directive from the Federal Housing Finance Agency to remove the language preference question and housing counseling information from the updated URLA form. learn more
- Study: One in Five Homeowners Feel House Rich, Cash Poor
- In a poll of 675 homeowners, 19.5 percent of homeowners felt “house rich, cash poor” most or all of the time while 73 percent felt “house rich, cash poor” at least some of the time. learn more
- Supreme Court Agrees to Hear Challenge to Consumer Bureau’s Authority
- The Supreme Court on Friday agreed to hear a legal challenge to the Consumer Financial Protection Bureau’s authority. learn more
- MBA: September New Home Purchase Applications Down 8% from August, Up 34% from Year Ago
- Mortgage applications for new home purchases in September fell by 8 percent from August but jumped by 34.2 percent from a year ago, the Mortgage Bankers Association reported this morning. learn more
- Mortgage Rates Hold Steady But Could Be Primed to Move Lower
- Mortgage rates barely budged this week despite downward pressure from lackluster economic news. learn more
- Will Mortgage Rates Stay Low Through 2019? Here's What Experts Predict
- Freddie Mac reported an average 3.65% rate on 30-year, fixed-rate loans-a whopping 1.06% downslide since just one year ago. learn more
- Appraisals Will No Longer Be Required on Certain Home Sales of $400,000 and Under
- For the first time since 1994, certain home sales of $400,000 and under will soon not need an appraisal after federal regulators approved a proposal to increase the threshold at which residential home sales require an appraisal. learn more
- Robots Could Replace Loan Officers in the Future
- Lenders are choking on the largely human expenses to fund and book new mortgages. learn more
- Mortgage Rates Shoot Up Following Bond Market Sell-Off
- The Federal Reserve cut interest rates this week, but mortgage rates had their biggest one-week upturn in nearly a year. learn more
- Mortgage Demand From Buyers Jumps Just as Interest Rates Spike
- Total mortgage application volume was flat for the week, down a slight 0.1%, according to the Mortgage Bankers Association's seasonally adjusted index. learn more
- New Home Purchase Mortgage Apps Rise 33 Percent in August
- Builder Application Survey data from the Mortgage Bankers Association for August shows mortgage apps for new home purchases increased 33 percent compared to a year ago. learn more
- Average FICO Score Stands at Record High
- The average FICO score stands at 706, a record high. learn more
- This Was The Worst Week for Mortgage Rates in 3 Years--And it May Be Just The Beginning
- Bad news for borrowers--the average 30-year fixed-rate mortgage is now 20 basis points higher than it was on Monday and 36 basis points higher than its last low on Sept. 4. learn more
- Trump Says Fed Should Reduce Rates to 'Zero, or Less'
- President Trump renewed his call for lower interest rates and his criticism of the Federal Reserve Wednesday, saying on Twitter that the Fed should reduce rates to "ZERO, or less." learn more
- Officials Spar with Senators over Plan for Mortgage Giants
- Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income homeowners. learn more
- Cheat Sheet: Trump Administration's Road Map for GSE Overhaul
- The Treasury Department made clear in a much-anticipated report that its ultimate preference is for Congress to take up reform of the government-sponsored enterprises. learn more
- Ready to Refi? Expect It to Take Some Time
- "On average, the industry is taking anywhere from 40 to 60 days for an application to close," said Joel Kan of the Mortgage Bankers Association. learn more
- Mortgage Lenders Saw Average Profit Per Loan Rise in the Second Quarter
- Mortgage lenders reported a net gain of $1,675 on each loan they originated in the second quarter, up from $285 per loan in the first quarter, according to the Mortgage Bankers Association's Quarterly Mortgage Bankers Performance Report. learn more
- Mortgage Rates Hold Steady Despite Sinking Bond Yields
- Mortgage rates showed little change this week as investors continued to shy away from mortgage-backed securities. learn more
- ortgage Applications Fell as Mini Refinance Boom Lost Some Steam
- Mortgage application volume fell 6.2% on an adjusted basis during the week ended August 23, with most of the decrease coming from an 8% drop in applications for refinances, according to the Mortgage Bankers Association's Weekly Applications Survey. learn more
- Consumer groups, lenders find common cause against CFPB mortgage provision
- Though advocates and industry are rarely aligned, they are starting to coalesce around a plan that would call for the elimination of the CFPB’s 43% debt-to-income limit as part of its qualified mortgage rule. learn more
- Appraisals May Soon Not Be Required on Certain Home Sales of $400,000 and Under
- In November, the Federal Deposit Insurance Corp., the Office of the Comptroller of the Currency, and the Board of Governors of the Federal Reserve released a proposal that would increase the appraisal requirement from $250,000 to $400,000, meaning that certain home sales of $400,000 and below would no longer require an appraisal. learn more
- 30-Year Mortgage Rate Falls to Its Lowest Level in Nearly Three Years
- Economic uncertainty drove mortgage rates down, according to Freddie Mac data released Thursday, with the popular 30-year reaching its lowest level in nearly three years. learn more
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