According to Joel Kan, MBA’s VP and Deputy Chief Economist, “Mortgage applications for new homes showed a 22% annual gain in December—the 11th consecutive year-over-year increase in applications.”
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 »Mortgage Credit Availability Rebounds
The MBA's Mortgage Credit Availability Index revealed that August's share of mortgage credit availability was on the upswing after a decrease in July, which resulted in the lowest level of credit availability recorded since 2013.
Read More »Mortgage Credit Availability Falls to Lowest Level in a Decade
“Mortgage credit availability declined to its lowest level since 2013, as lenders pulled back on underutilized loan programs and as liquidity concerns remain for some jumbo lenders,” said Joel Kan, MBA’s VP and Deputy Chief Economist. "Declining origination volumes have led to lower profitability for many lenders, resulting in narrower loan product offerings to reduce operational costs.
Read More »Market Monitor: Locks Move South in June; Credit Availability Tightens
According to Black Knight's Originations Market Monitor report, overall rate lock volumes were down 1% month-over-month in June, with conforming loans gaining share mainly at the expense of nonconforming loan products.
Read More »Mortgage Credit Availability Experiences Modest Bump
“Mortgage credit availability was essentially unchanged in June, remaining close to the lowest level since early 2013, as the industry continues to operate at reduced capacity,” said Joel Kan, Mortgage Bankers Association VP and Deputy Chief Economist.
Read More »June Listings Lag, Hampering Home Sales & Shoring Up Prices
Despite the early-June underperformance, Redfin reports that home-tour numbers indicate pent-up demand that should translate into improved sales once mortgage rates drop.
Read More »Is a Credit Crunch Coming?
“While the NFCI Credit index indicated that credit tightened in March, which reduced housing market potential, the credit tightening was modest and far from recent pandemic lows, and certainly nothing like the Great Financial Crisis period,” said Mark Fleming, Chief Economist at First American.
Read More »After Four Weeks of Increases, Mortgage Apps Tick Downward
Continued low mortgage rates have not equated into a strong start to the spring homebuying season, as the MBA reports a decline in overall application volume after four consecutive weeks of increases.
Read More »Samuel Bjelac to Manage Sprout Mortgage’s TPO Channel
After four years as SVP of the Non-QM Wholesale and Correspondent Business Channels, 20-year industry vet promoted to manage TPO operations.
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