Tag Archives: Mortgages

As mortgage applications increase, mortgage rates have begun to drop, according to data from the Mortgage Bankers Association (MBA) and Freddie Mac. The MBA’s Market Composite Index, a measure of mortgage loan application volume, rose 1.5 percent from a week earlier, while the 30-year fixed-rate mortgage dropped from 4.10 to 4.08 percent. The average loan size for purchase applications was at $318,700, a survey high.

Fannie Mae’s survey respondents point to competition from other lenders and market trend changes, such as a shift from refinance to purchases, as top reasons for low profit margins. However, respondents point to government regulatory compliance, a historically top reason for lenders’ decreased profit outlooks, as a lesser reason.

Although profits for processing loans dropped, mortgage lenders with servicing portfolios benefited from higher net servicing financial income in the fourth quarter of 2016 due to increases in the valuation of their mortgage servicing rights. This event was driven by rising interest rates. However, reduced profitability on the production side of the business generally outweighed servicing gains.

Mortgage applications for new homes are up nearly 16 percent over the year and 2 percent since January 2017, according to recent data.

During a recent Q&A, Kashkari voiced his views on bank restructuring, and he also shared his personal experiences with trying to obtain a mortgage, and the frustration caused by the mortgage lending process.

Low mortgage rates may be enticing new homebuyers, but according to one report, not everyone is able to easily keep up with their payments.

Financial hardships are keeping Americans tossing and turning at night, and mortgages are one the top concerns causing sleeplessness, according to a new CreditCards.com poll.

Freddie Mac sellers/servicers brace yourself for some significant changes regarding the way that they you do business in the coming year.

Loans refinanced through the Home Affordable Refinance Program held steady for the second quarter of 2015. According to the Federal Housing Finance Agency's Refinance Report, the total number of loans refinanced through HARP in the second quarter was nearly the same as the number recorded in first quarter.

Multiple market indicators show solid strong stabilization within housing in June, mostly due to employment and current mortgages, according to Freddie Mac's Multi-Indicator Market Index. Housing markets are the strongest they have been since 2008, with the national MiMi surpassing 80 in June. Freddie Mac attributes most of this positive growth to a surge in jobs and mortgages that are kept current in nearly all metros.