In the four years since the Surfside condo collapse, a wave of regulatory changes continues to unsettle property owners and lenders, compounding challenges in an already fragile housing market. The scrutiny on condo developments in the aftermath of Surfside led to tightened lending rules that continue to put properties across the country onto a nonwarrantable […]
Nonwarrantable condos fuel niche lending boom Read More »
After several starts and stops, the trigger leads ban is the closest it’s ever been to becoming law, after the House of Representatives approved its version of the Homebuyers Privacy Protection Act. There are some differences with the Senate version of the bill, which was approved by unanimous consent on June 12. Those can be
Trigger lead ban nears finish line in Congress Read More »
In the aftermath of the Federal Open Market Committee’s June meeting, certain interest rate spreads should narrow, but the overall impact for mortgages is mixed, a Keefe, Bruyette & Woods report said. Part of that depends on which segment of the industry the company operates in. Mortgage rates remaining elevated, with the 30-year fixed only
Mortgage servicers benefit most from Fed’s inaction: KBW Read More »
Caring wife. Positive aged woman giving a cup of tea to her smiling husband who is sitting at the table and using tablet Past expectations of a wave of homes to hit the market once senior citizens move out are fading, with a majority of baby boomers saying they won’t sell for at least another
Baby boomer plans put others’ homeownership goals on hold Read More »
Mortgage rate movements stayed muted as investors await the culmination of June’s Federal Open Market Committee meeting later on Wednesday. Rates declined for the third consecutive week, but remained in that tight 6.8% range, the Freddie Mac Primary Mortgage Market survey reported. The survey was released a day early because of the Juneteenth holiday. What
Mortgage rates move lower ahead of Fed decision Read More »
Growth in loan products across the board in anticipation of the annual home purchase season pushed mortgage credit to its loosest in over two-and-a-half years, the Mortgage Bankers Association said. However, rate lock activity fell nearly 6% in May from April, as conforming mortgage rates rose over 16 basis points during the month, a separate
Mortgage credit offerings at loosest in over two years Read More »
Despite increasing mortgage rates and economic volatility, the outlook among home buyers and sellers improved on both a monthly and annual basis, according to Fannie Mae’s latest housing survey. The government-sponsored enterprise’s monthly Home Purchase Sentiment Index increased to a reading of 73.6 in May, up from 69.2 one month earlier. May’s level also rose
Home purchase sentiment rises after tariff pause Read More »
Even though some mortgage industry economists are expecting existing home sales to improve this year, affordability remains an issue holding many consumers back from acting. On the lender side, the competitive landscape for whatever leads are in the market is getting tougher because of the uncertainty around mortgage rates. A new offering from RatePlug looks
RatePlug’s new tool creates, nurtures real estate leads Read More »
For the first time in four weeks, mortgage rates have moved lower, following another seven-day period where the benchmark 10-year Treasury yield moved in a wide range. However, rates are still at levels last seen in February, the Freddie Mac Primary Mortgage Market Survey showed. “The average mortgage rate decreased this week, which is welcome
Mortgage rates move lower for first time in four weeks Read More »
Closed-end home equity loan annual growth outpaced its line of credit cousin in the fourth quarter, increasing 13% above its high point from a year ago, the TransUnion first quarter Home Equity Trends Report found. Total home equity origination, in which TransUnion counts first mortgage refinance activity as well (although it does not distinguish between
Closed-end seconds lead overall home equity loan growth Read More »