Tag Archives: Fannie Mae

As mortgage rates remain in the 7% range, app volume fell slightly this week, with the refinance share of volume hitting a low last seen in August of 2000.

“The Brookings Institute showed a robust relationship between lower valuations and Black neighborhoods,” wrote Jonathan Liles, Senior Financial Analyst for the FHFA.

Wells Fargo’s current Head of Home Lending will transition to role of integrating diversity, equity, and inclusion into every aspect of the company’s business.

“Surveyed lenders cited personnel expenses as the primary factors driving up loan origination costs over the past two years,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

With fixed-rate mortgages up nearly 195 basis points since mid-summer lows, new single-family homes tumbled in September, with more homeowners opting to remain in their current homes amid the erratic rate environment.

The Federal Housing Finance Agency approved the use of FICO 4T and VantageScore 4.0 to score applicants for government-sponsored loans. Click through to find out more about these new scoring models.

“It turns out that the core of the GSE business model—which protects the availability of the 30-year fixed-rate mortgage for the typical American homeowner—was really quite effective within the complex system of U.S. housing finance and unexpectedly hard to replace,” said Don Layton, former CEO of Freddie Mac, in a new op-ed.

Single-family starts in 2022 are projected to hit an 11-year low, as builder confidence falls to its lowest level in more than a decade.

“Year-over-year home price growth decelerated in the third quarter, as the sharp rise in mortgage rates—and declining housing affordability—appears to have weighed further on demand,” said Doug Duncan, Fannie Mae’s SVP and Chief Economist.

After a slight break last week, Freddie Mac reports the fixed-rate mortgage inched closer toward the 7% mark, as recessionary concerns and housing affordability continue to drive down housing demand.