Mortage News

Mortgage news refers to the latest developments and trends in the mortgage industry, including changes in interest rates, new mortgage products, updates on regulations and guidelines, and other factors that affect homebuyers and homeowners.

Mortgage news can also cover topics such as the housing market, home prices, foreclosure rates, and other factors that impact the mortgage industry. For example, mortgage news may report on changes in home sales, new construction activity, or economic indicators that can affect mortgage rates.

December mortgage delinquencies rise due to calendar effect: ICE

January 25, 2024 Allen Santos Comments Off

Delinquencies rose in December but the rise is mostly due to the calendar: December ended on a Sunday, so payments made on the last day of the month were credited to January. As a result, […]

Demand for mortgages picks up: MBA

January 25, 2024 Allen Santos Comments Off

Mortgage demand continued to increase last week, as seen in an uptick in purchase activity. Mortgage applications rose by 3.7% in the week ending Jan. 19 compared to one week earlier on a seasonally adjusted […]

Fannie Mae updates HomeReady, provides temporary $2,500 credit

January 25, 2024 Allen Santos Comments Off

Fannie Mae has announced updates to its HomeReady product, including a temporary $2,500 credit for very low-income purchase borrowers to use for down payment and closing costs. Another step the government-sponsored enterprise took was to […]

Mortgage demand jumps nearly 10% to start the year, even as interest rates tick up again

January 11, 2024 kingstu Comments Off

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.81% from 6.76%, for loans with a 20% down payment. Applications to refinance a home loan jumped […]

How LOs, mortgage execs are preparing for 2024

December 30, 2023 kingstu Comments Off

After nearly two years of trudging through a frozen housing market, the consensus among mortgage professionals is that the worst of it is over. The Federal Reserve recently signaled plans to slash interest rates three […]

Pending Home Sales Stayed Sideways Near Record Lows

December 29, 2023 kingstu Comments Off

The National Association of Realtors (NAR) releases two widely followed home sales reports. Existing Home Sales measure transactions of homes other than new construction (i.e. previously owned and occupied homes). The Pending Sales index is […]

CoreLogic’s income analysis solution now integrated with Fannie Mae’s income calculator

December 21, 2023 kingstu Comments Off

CoreLogic’s AutomatIQ Borrower Income Analysis solution is now integrated with Fannie Mae’s Income Calculator, the company announced last week. With this integration, mortgage lenders will be able to calculate borrowers’ income according to the standards […]

Mortgage Application Activity Trends Downward

December 21, 2023 kingstu Comments Off

Mortgage application activity declined for the week ending Dec. 15, according to new data from the Mortgage Bankers Association (MBA). The Market Composite Index, the MBA’s measure of mortgage loan application volume, fell by 1.5% […]

Lower Rates or Not, Last Week’s Applications were “Tepid”

December 20, 2023 Mariel Alumit Comments Off

The Thanksgiving holiday was followed by two strong weeks for mortgage applications, especially for refinancing, as mortgage rates fell. This past week, however, the lowest rates in six months failed to stir much interest among […]

Housing Starts Hit 2023 High

December 20, 2023 Allen Santos Comments Off

Housing starts, which had risen modestly in September and October, soared last month, topping 1.5 million units for the first time in 2023 . The U.S. Census Bureau and the Department of Housing and Urban […]

Rocket lost money last year, so why are its shares up?

February 25, 2024 Comments Off

Rocket Companies, the parent of Rocket Mortgage, lost money in 2023, but executives have expressed confidence about a big turnaround by touting investment in artificial intelligence (AI) to accelerate the company’s profitability. Despite reporting […]

Industry experts are closely watching delinquency rates, insurance costs

February 25, 2024 Comments Off

Mortgage servicers, regulators and economists are closely watching the delinquency rates for Federal Housing Administration (FHA) loans following a spike in the fourth quarter of 2023. Industry experts say that although there’s a correlation […]

Jobs data sends mortgage rates higher

February 3, 2024 Comments Off

Today we got a jobs Friday hat trick! Better headline jobs were reported, with positive revisions and more robust wage growth, which caught bond traders off guard and sent bond yields and mortgage rates […]