New loan activity stormed out of the holidays with a large surge, aided by mortgage rates dropping to lows not seen in months, according to the Mortgage Bankers Association. “Mortgage application activity rebounded strongly in the first full week of January, with both refinance and purchase activity increasing by double-digit percentages, compared to last week, … [Read more…]
Mortgage rates take a breather after rising for several weeks in a row CNN
To say the last couple weeks have been bad for mortgage rates (and consumers) would be an enormous understatement. In fact, over the past month mortgage rates on the ever fashionable 30-year fixed have risen nearly a full percentage point. Weâre talking rates of around 3.375% in early May that have since rocketed to around… Read More »Mortgage Rates Experience Largest Single-Week Increase Since 2011
The post Mortgage Rates Experience Largest Single-Week Increase Since 2011 appeared first on The Truth About Mortgage.
Show Summary Welcome back to the show! Today I’m talking with my buddy, John Jackson. He’s also here in the Dallas market, and today we are going to talk about lease…
A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, âAbout half an hour.â Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medicare costs. A major study concluded that older people are easier to catch, offer less resistance, and, more importantly, will not remember how to get back home. In actual news, lenders who own servicing continue to peel it off because it either doesnât fit their portfolio, or they need the cash. The owners of lenders continue to examine various business strategies as we start 2023, with some thinking that it doesnât make sense to remain the size they are. There was a lot of mergers and acquisition activity last year, big and small. I am told by my M&A friends at STRATMOR (Garth & David) that 2023 is lining up for even more. (Both will be in San Diego at the IMB Conference if you want to confidentially meet up.) This weekâs podcast is sponsored by Candor. Candorâs patented automated underwriting decision engine, CogniTechâ¢, is a state-of-the-art, 100% machine platform that can handle infinite loan scenarios. Todayâs has Part Two of an interview with Tom Booker and Tom Showalter on how every underwrite is an anomaly.
A recent drop in mortgage rates and the uptick in home inventory has led to optimism in the air for the mortgage industry.
Mortgage rates fall for the fourth week in a row CNN
Artificial intelligence is changing everything. If you don’t believe it, you will after you read this.