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The dip in mortgage rates has kicked the spring homebuying season off on the right foot, as the MBA reports overall app volume on the rise for the third straight week, amid uncertainty over the health of the banking sector.

The addition of Dan Ventura as its new VP of Reverse Operations follows the formalization of the company’s Regional Reverse SVP program, and the addition of eight new SVPs.

Through the purchase of Cherry Creek Mortgage, Guild Mortgage will integrate reverse mortgages into its traditional mortgage platform, using Guild’s nationwide retail team across nearly 300 branches.

The Five Star Institute presents the first-ever REO Connect event, a gathering of the REO community featuring educational offerings and networking opportunities geared to meet the needs of unique marketplace.

In a week of turmoil in the economic markets as the FDIC was named receiver of two banks, Freddie Mac reported the fixed-rate mortgage retreated 13 basis points, ending a five-week run of increases.

“Buyers today are way more demanding and selective. They’re willing to wait to find the perfect house, which wasn’t the case during the pandemic homebuying boom,” said Elena Fleck, a Redfin real estate agent in Palm Beach, Florida.

The MBA reports that purchase applications increased for the second straight week but remained nearly 40% below last year’s pace, amid news of continued economic instability and several bank closures.

Most lenders have automated much of the front end of their processes, and now, Robotic Process Automation (RPA) technology is helping to automate the in-between functions.

Interest in jumbo and adjustable-rate mortgages is increasing as borrowers look for ways to offset inflationary pressure and higher interest rates.

With the market still hampered by high mortgage rates and tight supply, MReport asks a panel of experts if the spring/summer 2023 housing market will bring homebuyers back off the sidelines.