Today’s mortgage and refinance rates Average mortgage rates nudged higher yesterday, neatly canceling out Wednesday’s fall. So they remain within their ualow range. So far this morning, it’s looking as […]
Mortgage demand drops as interest rates hit a three-month high CNBC
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 […]
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)
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)
Mortgage rates set new record low, falling below 3% as concerns rise about coronavirus second wave CNBC
The Mortgage Bankers Association (MBA) has forecast an 11% gain in commercial and multifamily loan originations this year. Commercial and multifamily mortgage bankers are expected to close $286 billion of loans backed by income-producing properties in 2021, up from the estimated $440 billion volume in 2020. MBA forecasted that total multifamily lending alone – which … [Read more…]
The visionary co-founded electronic signature company SignOnline in 1999, a year before legislation legalized e-signatures at the federal level.
Today’s mortgage and refinance rates Average mortgage rates inched higher again last Friday. Although last week saw mostly rises, each movement was small. And these rates remain exceptionally low. First […]