Refinance

Mortgage and refinance rates today, February 11, 2021

Today’s mortgage and refinance rates  Average mortgage rates nudged lower again yesterday. And, as Freddie Mac and Mortgage News Daily point out, they’re now pretty much back to where they […]

Slight Rate Increases Dampen Mortgage Application Volume

Posted To: MND NewsWire

Mortgage application activity gave back much of the previous week’s gains as interest rates increased. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, decreased 4.1 percent on a seasonally adjusted basis during the week ended February 5 and was down 3 percent before adjustment. The Refinance Index, which had surged by 11 percent during the last week in January, was down 4 percent last week but was still 46 percent higher than the same week one year ago. The refinancing share of overall activity decreased to 70.2 percent from 71.4 percent the previous week. The seasonally adjusted Purchase Index dropped 5 percent from one week earlier but was up 2 percent from the prior week and 17 percent year-over-year on an unadjusted…(read more)

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How long should small-business, mortgage aid last?

House Financial Services Committee members were at odds over whether to have support for homeowners and the State Small Business Credit Initiative, both included the $1.9 trillion stimulus plan, expire when the pandemic ends or later.

Conforming Loan Standards Loosened in January

Posted To: MND NewsWire

Access to mortgage credit increased again in January. The Mortgage Bankers Association (MBA) said its Mortgage Credit Availability Index (MCAI) rose 2.0 percent to 124.6. A decline in the MCAI indicates that lending standards are tightening, while increases in the index are indicative of loosening credit. The two components of the Conventional MCAI posted significant increases. The Conforming MCAI jumped 7.7 percent and the Jumbo component was up 2.2 percent, pushing the parent index up 4.8 percent compared to December. This was slightly offset by an 0.1 percent decline in the Government MCAI. “The growth in credit availability in January coincides with a housing market that is poised for a strong start to the year . Improvements were driven by the conventional segment of the mortgage market…(read more)

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CFPB makes it clear: fair servicing is back, for real this time

Today’s cultural moment is potentially different than it was 10 years ago, and it is anticipated regulators will deploy the Equal Credit Opportunity Act and Fair Housing Act, and even state anti-discrimination laws, in novel ways to nudge servicers to do their part to support the equity agenda.

The post CFPB makes it clear: fair servicing is back, for real this time appeared first on HousingWire.

Zillow follows Saturday Night Live spoof with record profit

The growing popularity of the company’s websites and apps has earned the company record profits during the fourth quarter, with adjusted earnings before interest, taxes, depreciation and amortization of $170 million, according to a statement on Wednesday.