Mortgage rates again have moved lower, but given how the 10-year Treasury yield increased in the past eight days, prior to next week’s Fed meeting, this might be transitory. “Mortgage rates decreased for the second straight week as we emerged from the Thanksgiving holiday,” said Sam Khater, Freddie Mac’s chief economist in a press release. […]
Mortgage rates move lower in advance of FOMC meeting Read More »
Affordability remains one of the largest hurdles the housing market faces, and no state struggles more than California. A new report from Attom found 16 of the 50 highest risk markets — those more vulnerable to declines in home affordability, equity and other measures — were in California, followed by nine in New Jersey, four
California tops list of riskiest housing markets Read More »
Even as the regulator for Fannie Mae and Freddie Mac floats new product ideas, the enterprises’ overall footprint has stayed fairly steady. Still, some experts think more shifts could be ahead as they move closer to a public offering. As is the case with many aspects of their business, a balance will need to be
How Fannie, Freddie product mix could shift with a stock offering Read More »
US mortgage rates fell last week to a one-month low, spurring home-purchase activity. The contract rate on a 30-year mortgage dropped 8 basis points to 6.32% in the week ended Nov. 28, which included the Thanksgiving holiday, according to Mortgage Bankers Association data released Wednesday. The rate on a five-year adjustable mortgage declined to 5.4%,
Mortgage rates slide to 6.32%, boosting purchase activity Read More »
A new type of reverse mortgage security needs to be created to accommodate Home Equity Conversion Mortgages that have reached the 98% maximum claim amount, a pair of industry organizations said in their respective responses to a government request for information. The RFI from the Federal Housing Administration and Ginnie Mae — along with their
Industry pushes new HMBS to fix aging reverse loans Read More »
Absolute Home Mortgage has acquired assets from Fidelity Direct Mortgage in a partnership announced Tuesday. Absolute, a nationwide mortgage lender based in New Jersey, added Fidelity’s team of 55 producing loan officers to its team of roughly 190, a Fidelity spokesperson told National Mortgage News. “This is an important step forward for both of our
Absolute Home Mortgage acquires Northeast lender’s team Read More »
Enjoy complimentary access to top ideas and insights — selected by our editors.Want unlimited access to top ideas and insights? Subscribe Now The mortgage industry has invested a huge amount of time and money to create products for tapping the vast amount of home equity equity inside the 145 million residential homes in the US.
The second-lien push that won’t quite catch Read More »
A trade group representing private lenders has created a database to identify high-risk counterparties prior to funding real estate loans. The National Private Lenders Association has launched the NPLA Watchlist to help real estate lenders, brokers and service providers spot individuals or entities that may warrant caution — or even avoidance — in order to
Private credit organization starts counterparty watchlist Read More »
Planet Financial Group grew its production volume by 64% and its mortgage servicing portfolio by 28% year-over-year in the third quarter, as its portfolio retention unit reported record lock volumes in September, a strong month for refinances in the industry. The privately held company did not disclose any profit or loss data. As a group,
Planet’s Home Lending outpaces mortgage industry in 3Q Read More »
A new report expects housing affordability to notably improve by the end of next year with income growth outgaining the average increase in home prices. First American’s September Real House Price Index anticipates that affordability will improve by 3% on a year-over-year basis by the end of 2026. “Affordability remains challenging, but for the first
Economist says income growth will boost home affordability Read More »