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Revolving HELOC Volumes Hit Six-Year High

Revolving HELOC Volumes Hit Six-Year High

Credit reporting agency Equifax released on Monday its latest National Consumer Credit Trends Report, revealing that the total balance of new credit for revolving home equity loans in the year's first seven months was $65.9 billion. The figure, up 21.4 percent year-over-year, marks a six-year high.

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Mortgage Apps Jump Following Topple in Interest Rates

Mortgage Apps Jump Following Topple in Interest Rates

The Mortgage Bankers Association (MBA) reported a 5.6 percent increase in its mortgage applications index for the week ending October 10. The headline index got a boost from refinancing applications, which surged 11 percent over the week as the average 30-year fixed mortgage rate dropped to 4.20 percent, its lowest in more than a year.

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Profits Rise at Wells Fargo, JPMorgan Chase

Profits Rise at Wells Fargo, JPMorgan Chase

Third-quarter profits improved annually at two of the nation's biggest megabanks, though mortgage banking results were mixed. For the latest completed quarter, JPMorgan Chase reported net income of $5.6 billion compared to a loss of $380 million a year ago. On the other side of the country, Wells Fargo posted profits of $5.7 billion for the quarter, up from $5.6 billion in Q3 2013 and flat from Q2 2014.

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Mortgage Applications Up 3.8% in Weekly Survey

Mortgage Applications Up 3.8% in Weekly Survey

Mortgage application volumes kicked off the month with a small increase as interest rates tumbled a few points, according to industry data. The Mortgage Bankers Association's (MBA) weekly measure of mortgage applications rose 3.8 percent for the week ending October 3, the group reported Wednesday.

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HELOC Lending Volumes Bound 27% in Q2

HELOC Lending Volumes Bound 27% in Q2

Experian estimates new mortgage origination volumes totaled $292 billion for the months of April through June, reflecting a 15 percent increase from a slow first quarter. Home equity lines of credit (HELOCs) led in gains for the quarter, totaling $35 billion—up 25 percent over the same period last year. Over the last 12 months, HELOC originations totaled $120 billion, marking a 27 percent increase from the prior period.

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Mortgage Loan Risk Flat in August

Mortgage Loan Risk Flat in August

AEI's National Mortgage Risk Index measured 11.3 percent last month, little changed from July's index, the group said. As a stress test, the index measures the percentage of loans that would be at risk of turning sour in the event of an economic downturn. Though the index has come down in recent months, it remains nearly twice the acceptable level "conducive to a stable market," AEI said.

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HARP Refinance Share Down to 13% in July

HARP Refinance Share Down to 13% in July

​Refinance activity remained more or less level from June to July, though interest in the government's Home Affordable Refinance Program (HARP) continued to dwindle, the Federal Housing Finance Agency (FHFA) reported. The falloff in HARP refinancing continues even as the government works to revitalize the program.

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Report: Low Appraisals Not at Fault for Slow Housing Recovery

Report: Low Appraisals Not at Fault for Slow Housing Recovery

As home values have made a rapid ascent in the past few years, those on the sales side point to lagging appraisal models as a major hurdle to finalizing transactions. In a newly released report, however, FNC maintains that despite anecdotal reports, "there is no strong evidence that low appraisal valuations contributed to mortgages falling through."

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