Despite a rise in overall mortgage apps week-over-week, the MBA reports that mortgage rates are a percentage point higher than a year ago, and when combined with low for-sale inventory, is constraining home buying activity in many markets.
Read More »New Lock Data Reveals Strong Downturn in May MoM
According to Mortgage Capital Trading, rate/term refinance volume was down 21.88%, cash-out refinance volume was down 21.77%, and lock activity in total was down 15.87% in total compared to April.
Read More »Mortgage Credit Availability Falls to Lowest Point in Over a Decade
The MBA reports that mortgage credit availability fell for the third straight month in May, dropping to levels last recorded in January 2013.
Read More »Mortgage Locks Remain Suppressed but Increased in May
Overall rate lock volumes rose 14% in May from the prior month, but that number is still down 38% year-over-year and 29% compared to pre-pandemic numbers.
Read More »Navigating the Wild, Wild West of Digital Closing Providers
Mortgage lenders are moving quickly to adopt digital closings, but Aaron Davis of AMD Enterprises and Florida Agency Network explains the challenge of determining an optimal partner.
Read More »Rethinking Reverse Mortgage Lending
Rather than viewing the reverse mortgage lending business as a completely new line of business, lenders today are looking at reverse mortgages as another loan product to add to their menu of offerings.
Read More »Mortgage Rates Turn Downward
“While elevated rates and other affordability challenges remain, inventory continues to be the biggest obstacle for prospective homebuyers,” said Freddie Mac Chief Economist Sam Khater.
Read More »Mortgage Apps Drop 30% YoY
Mortgage application volume fell has fallen for a month straight, with purchase activity constrained by rates nearing the 7% mark and a lack of for-sale inventory.
Read More »loanDepot Names David Hayes New CFO
Twenty-five-year senior finance specialist and former CoreLogic exec tapped to manage loanDepot’s financial functions, including its accounting, treasury, tax, corporate finance, and investor and lender relations activities.
Read More »Lingering Economic Concerns Push Mortgage Rates Upward
Along with a lack of inventory in the nation’s housing supply, Freddie Mac reports the 30-year fixed-rate mortgage continues to edge toward the 7% mark, further dampening the spring homebuying season.
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