Homebuyers need more than falling mortgage rates to jump back into the market – ABC News
Homebuyers need more than falling mortgage rates to jump back into the market ABC News
Mortgage Bankers Association
Median payment on purchase mortgage application rises to $2,061
Buyers continue to feel the pinch from high mortgage rates and still-elevated home prices. But those committed to buying a new home are really committed, LOs said.
Warehouse lenders facing fallout from industry woes
Recent bond-rating reports shine a spotlight on the deposit and investment-portfolio shortcomings of two banks offering warehouse lines â Comerica and Western Alliance.
With mortgage rates dropping, the conforming and jumbo loan spread narrows
Freddie Mac’s Primary Mortgage Market Survey showed on Thursday that the 30-year fixed-rate mortgage at 6.42% as of March 23, down 18 basis points from the previous week.
Mortgage activity is up for the third straight week
Mortgage applications came in higher again last week, as more consumers took advantage of another pullback in mortgage rates, according to the Mortgage Bankers Association. The MBA’s Market Composite Index, a measure of weekly loan volume based on surveys of association members, increased 3% on a seasonally adjusted basis for the seven-day period ending March … [Read more…]
Mortgage demand rises amid MBS volatility
Mortgage rates fell last week, spurring an increase in demand. But a volatile secondary market is causing challenges.
Why industry watchers expect mortgage rates to fluctuate in coming weeks
Mortgage rates, which climbed one day and dropped the next after the bank failures, will be volatile before stabilizing, experts say.
Fed delivers a 25 bps rate hike amid bank failuresÂ
The Fed has decided to forge ahead in its fight against inflation, despite several bank closures that have caused turbulence in the financial markets.
Mortgage forbearance rates improve despite higher delinquencies
Mortgage forbearances were down across the board in February, with the total number of loans currently in forbearance plans declining four basis points from January, according to the Mortgage Bankers Association. MBA reported Monday that 300,000 homeowners are in forbearance plans, representing 0.60% of servicers’ portfolio volume as of February 28. The improvement comes as … [Read more…]
Mortgage reperformance bearing up, other consumer debt woes rising
Most distressed mortgages emerged from workouts intact in February but the chargeoff rates for auto loans and credit cards are up, in part due to steep housing costs that have contributed to high levels of household leverage. The majority or 76% of borrowers who completed post-forbearance workouts on distressed homes loans from 2020 on were … [Read more…]