The Mortgage Bankers Association (MBA) has announced the unexpected passing of former President and CEO David H. Stevens, CMB. Bob Broeksmit, MBA sitting President and CEO said the industry veteran "is remembered as a great mentor, boss, and friend."
Read More »Average Nationwide Mortgage Payment Drops Slightly in September
The MBA reports that affordability improved slightly for the nation’s homeowners in September, as the national median payment applied for by purchase applicants fell slightly month-over-month. Click through to learn more about the changes.
Read More »Share of First-Time Hispanic Homebuyers Projected to Rise in Coming Years
Although denial rates are higher for Hispanic borrowers and worsening affordability continues to hinder homebuyers nationwide, a new study from the Urban Institute revealed that by 2040, an estimated 70% of new homeowners are projected to be Hispanic.
Read More »Mortgage App Payments Rose in August Despite Decline in Homebuyer Affordability
Mortgage application payments increased slightly in August to $2,170, according to MBA's Purchase Applications Payment Index, while overall homebuyer affordability declined, as homebuyers’ budgets continue to be impacted by high home prices and mortgage rates above 7%.
Read More »What a Government Shutdown Could Mean for the Real Estate Economy
In a new report, the National Association of Realtors revealed what a government shutdown would mean for the real estate industry, including the closing of some federal housing, mortgage, and other programs nationwide.
Read More »August New Home Purchase Mortgage Applications Up Nearly 21%
Purchase demand remained strong in August for newly constructed homes, increasing 20.6% compared to a year ago, according to the MBA Builder Application Survey, while the average loan size for new homes increased to $398,092.
Read More »Mortgage Applications Reach Lowest Level in Nearly Three Decades
“Mortgage applications decreased for the seventh time in eight weeks, reaching the lowest level since 1996,” said Joel Kan, MBA’s VP and Deputy Chief Economist. “Last week’s decline was driven by a 5% drop in refinance applications, to the weakest reading since January 2023.”
Read More »FHA and VA Purchase Apps on the Rise
Despite mortgage rates reaching their highest levels since November 2022, overall app volume rose week-over-week, led by an increase in both FHA and VA purchase applications.
Read More »Purchase Mortgage Apps Rise for Third Consecutive Week
The MBA reports that new home sales have been driving purchase activity in recent months, as buyers continue to seek options beyond the existing-home market.
Read More »How Digitalization Changes How People Search for, Finance Housing
According to a new analysis from Harvard's Joint Center for Housing Studies, data revealed just how significant of an impact digitalization has on how Americans search for and finance homes. Click here to read more.
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