Mortgage applications have swung up and down over the last two months as mortgage rates have stabilized, according to the Mortgage Bankers Association. Processing Content The MBA’s Market Composite Index, a measure of mortgage loan application volume, decreased 3.8% on a seasonally-adjusted basis from one week prior for the week ending Dec. 12, as mortgage […]
Mortgage apps dip as rate stability stalls momentum Read More »
The Mortgage Bankers Association is standing firm on its initiatives to help lenders find credit-report cost relief with its latest call to eliminate the tri-merge purchase requirement for a segment of borrowers. Processing Content In a letter addressed to Federal Housing Finance Agency Director Bill Pulte in mid December, MBA requested that the regulator, which
MBA presses FHFA to drop tri-merge credit report rule Read More »
New-home sales saw their largest year-over-year increase since July in November, even as mortgage rates changed little. Processing Content While the industry is still waiting on official data from the Census Bureau regarding the pace of new home sales, the MBA’s latest Builder Application survey found new-home purchase activity was up 3.1% from a
New-home sales post biggest annual gain since July Read More »
Rural markets across the board saw a significant spike in property values during the pandemic housing boom, but some communities benefited more thanks to their locations and the rise of remote work. Processing Content Between March 2020 and March 2023, home prices appreciated 36.1% in rural areas, more than doubling their rate of growth in
Vacation homes and seasonal properties drive up rural prices Read More »
The government is raising the exemption for special appraisal requirements for higher-priced mortgage loans to $34,200. Processing Content The loans are defined as any mortgage with specifically higher annual percentage rates than the Consumer Financial Protection Bureau’s average prime offer rate. The Office of the Comptroller of the Currency, the Board of Governors of the
Feds raise appraisal exemption for higher-priced mortgages Read More »
Finance of America, a provider of home equity-based financing solutions for retirement, looks to expand its client base and grow originations, securing its second partnership in the last two months. Processing Content The lender and funds managed by Blue Owl Capital, a New York-based alternative asset manager, enhanced their previous partnership with a $2.5 billion
Finance of America secures major Blue Owl investment Read More »
The Federal Housing Administration has officially established the 2026 limits for loans that it insures, including traditional products and those originated through its reverse mortgage program. Processing Content The administration set the core limits for single-unit properties in low- and high-cost areas at $541,287 and $1,249,125, respectively. Those limits are based on 65% and 150%
Federal Housing Administration sets loan limits for 2026 Read More »
Aerial View of a Manufactured, Mobile, Prefab Home Being Removed from a Lot in a ParkGreg Kelton – stock.adobe.com ETHZilla, one of the largest Ethereum treasuries in the United States, is entering the housing market with a recent partnership, further expanding its move toward real-world assets. Processing Content The technology company announced a deal Wednesday
Top Ethereum treasury enters manufactured housing market Read More »
Approximately 70% of U.S. home purchasers do not shop mortgage lenders looking for a lower rate, possibly costing them as much as 50 basis points in higher payments, a report from Zillow claims. Processing Content The company’s analysis uses a typical home worth $360,000, with the purchaser putting 20% down. At 6.24%, the average in
Rate shopping could save borrowers over $1,100 a year Read More »
Real estate flips produced their smallest profit margins in well over a decade during the third quarter as rising home prices require a change in strategy for investor businesses, according to a report from Attom. Processing Content Real estate investors flipped a total of 72,217 properties between July and September this year. The number finished
Home flipping profits shrink to their slimmest since 2008 Read More »