Tag Archives: Refinance

Some of the pain the mortgage industry is experiencing is self-inflicted and can be corrected, as Louis Zitting of MonitorBase explains there is still time to pivot, salvage what’s left, and develop a path forward to experience success.

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.

Ongoing affordability challenges and low inventory are pushing mortgage application volume back down, after a near-month-long stretch of trending upward, according to the MBA.

The MBA reports that purchase activity was down 10% year-over-year, as inventory shortages and higher mortgage rates are dampening demand.

Under terms of the $137.8 million deal, Redfin will wind down its Redfin Mortgage business, and Bay Equity will continue to operate under its own name with current leadership.

After the Fed decided to raise rates last week, mortgage rates followed suit and edged up to 4.42%, up 26 basis points over last week and forcing more prospective buyers to the sidelines.

Mortgage rates have begun to plateau, with a spike in home buyer demand due to the continued lack of supply and elevation in prices.

Home purchase mortgage originations are anticipated to grow from $1.9 trillion in 2021 to $2.1 trillion in 2022, and $2.2 trillion in 2023, according to a new Freddie Mac forecast.

Mortgage application volume held steady week-over-week according to a new report, as a slight drop in refis was countered by a rise in home purchases.

New report offers insight into the frequency of 11 of today’s top market opportunities for mortgage lenders, as refis begin to wane—yet the purchase market is not picking up the slack.