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Tag Archives: Mortgage Monitor Report

Refis Reduced to 45% of Total Volume

refinance

The latest data from Optimal Blue’s daily interest rate tracker found interest rates for a 30-year mortgage by the end of October increased 6 basis points to 3.27%, which now totals a 30 ...

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Over 7 Million Borrowers Eligible for Refinance

refinance

In their monthly Mortgage Monitor Report, Black Knight reports the number of potential refinance candidates currently sits at 7.1 million, a substantial increase form just 4.1 million potential borrowers in February 2014. However, Black Knight’s SVP of Loan Data Products, Trey Barnes, says that number is fragile. According to Barnes, any increases in mortgage rates could cause that number to drop, even marginally.

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Report Shows Most Affordable Home Markets

Level of affordability varies by state with Washington D.C., Hawaii and Alaska all being less affordable now than in the pre-bubble years. In Washington D.C. the current payment-to-income ratio is 40 percent, which is lower than the 62 percent ratio shown at the peak of the housing bubble. Michigan, Texas, and Florida currently have ratios under the national average, with Michigan having a low ratio at 16.9 percent.

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