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Jan 23, 2024 · Risk Assessment for a New Era. From the challenges of underwriting today’s unconventional borrowers to “credit washing” schemes, to security exposures in the latest technologies, weighing the potential hazards ahead has never been more important for mortgage lenders. May 16. Magazine Issue Year 2022.
Purchase locks increase in the face of rising rates
1 day ago · Lock volumes for new home purchases rose 11.6% from September to October, data from the product pricing engine platform's monthly report showed. The rise reflected a second consecutive monthly gain for purchase locks over a period when the most frequently used mortgage rates surged between 41 and 73 basis points. Year …
National Mortgage News - October 2024
The mortgage professional's guide for the 2024 election. Political contributions from the housing finance industry lean Republican, but more mortgage dollars have gone to Harris than Trump. By Andrew Martinez. October 16. Regulation and compliance.
'Minimal' threat of housing crash, Realtor group says
6 days ago · Recent surges in mortgage rates may threaten some of the near-term affordability outlook, with the 30-year weekly average consistently rising for over a month. In 42.5% of markets, a family would need qualifying income of $100,000 to make a 10% down payment on a mortgage, NAR also found. A $50,000 income would suffice in just 2.2% of the country.
October 2022 - National Mortgage News
Calabria: FHFA is making housing less affordable by backing investors. The former head of the agency said a decision last year to suspend caps on investor loans has further induced demand in an already hot market. Other experts say a supply-demand imbalance is the true driving force. The Fed won't sell MBS any time soon.
Mortgage applications flat as rates continue steady increase
Oct 30, 2024 · The average contract interest rate for 30-year Federal Housing Administration loans is well in the mid-6% range, jumping 26 basis points to 6.55% last week. FHA and Department of Veterans Affairs-backed loan applications have dropped 41% in the past month. They're up 180% in the past 12 months, a stark rise because of a low 2023 base, KBW noted.
Mortgage rates keep rising but there are upsides for housing
Oct 17, 2024 · Similarly, the 15-year fixed rate mortgage jumped 22 basis points to 5.63% on the week, but it was down from 6.92% in 2023. "Compared to a year ago, rates are more than one percentage point lower and potential homebuyers can stand to benefit, especially by shopping around," Freddie Mac Chief economist Sam Khater said in a press release.
Mortgage applications up alongside Federal Reserve cut | National ...
Sep 25, 2024 · Mortgage applications for the week ending Sept. 20 rose to their highest level since July 2022, the Mortgage Bankers Association said Wednesday. As mortgage rates fade, the association's Refinance Index jumped 20% weekly and was up 175% from the same time last year. "While the level of refinance activity is still modest compared to prior refi waves, they now account for the majority of ...
How the economy is impacting mortgage credit offerings
Oct 15, 2024 · Mortgage credit offerings decline as interest rates plateau. Mortgage lenders reacted to the economic uncertainty in the nation and reduced their product offerings, especially those outside of the conforming box, for September. In the first two weeks of the month, the 30-year fixed rate mortgage dropped 26 basis points, according to Freddie Mac.