Mortgage rates inched down this week, and they are likely to remain stable throughout the rest of the year. After three consecutive weeks of upticks, the 30-year fixed mortgage rate dropped 0.3 basis points to 6.23% from last week when it averaged 6.26%. The 30-year rate averaged 6.81% this week a year ago. The 15-year […]
Mortgage rates tick down for first time this month Read More »
While gain on sale margins for mortgage lenders were at least stable, if not improved, in the third quarter compared to prior periods, that did not necessarily translate to improved profitability, separate reports from Morningstar DBRS and Boston Consulting Group revealed. The Morningstar report looked only at independent mortgage bankers, and the group it pulled
IMBs gain on sale is up, profitability isn’t Read More »
US mortgage applications to buy a home surged last week to the highest level since early 2023, despite still-elevated borrowing costs. The Mortgage Bankers Association’s index of home-purchase applications jumped 7.6% to 181.6 in the week ended Nov. 21, data from the group showed Wednesday. The contract rate on a 30-year fixed mortgage rate ticked
Purchase applications surge to highest level since 2023 Read More »
U.S. Federal Housing is boosting the conforming loan limits by 3.26% for 2026 based on the annual change in home prices using an expanded data set. The new limit of $832,750, is an increase of $26,250 from the 2025 limit of $806,500. The high-cost ceiling for one-unit properties will be $1,249,125, which is 150% of
U.S. Federal Housing raises 2026 conforming limits over 3% Read More »
Fannie Mae’s economic division has released its first origination forecast for two years from now and it projects a rebound to levels that haven’t been seen since the 2021 by then, but at a gradual pace. Following projected increases of almost 11% this year and nearly 25% next year, originations could rise another 6.5% by
Fannie Mae sees volume near $2.5T by 2027 Read More »
The mortgage industry is up in arms about price increases for credit score pulls. “By now, half the mortgage industry has seen the proposed increases for accessing consumer credit,” a LinkedIn post from NFM Lending Managing Director Greg Sher said. “It’s anywhere from 40-100% – this is on the heels of 700% increases over the
MBA objects to credit report price hike, wants single pull Read More »
New securitizations of loans made outside the qualified mortgage definition set multiple records in the third quarter, according to a recent Morningstar DBRS report. The study, which analyzes data from CreditFlow, shows issuance of non-QM residential mortgage-backed securities climbed to $20.9 billion in the third quarter from $10.6 billion during the same period a year
Non QM securitization broke records in 3Q: Morningstar Read More »
Home prices continue to tick up in all price ranges across the country, but none saw more significant change than luxury homes, which hit a record high for the month of October this year. Luxury home prices in the United States rose 5.5% year over year to a median $1.28 million, according to a new
Luxury home price growth triples the pace of nonluxury homes Read More »
Foreign buyers and local investors continue to play a critical role in the U.S. housing market, pushing ahead with purchases and refinances despite rising costs, shifting politics, and slower returns. For mortgage lenders, these buyers represent a growing business opportunity. Investor ownership of residential real estate has long been a contentious topic, with some blaming
Today’s investor property loan opportunity for lenders Read More »
The Federal Housing Administration is waiving its policy requiring mortgagees to provide borrowers with a longstanding notice that lays out FHA loan rights and responsibilities. The waiver for use of the “Important notice to homebuyers” disclosure is in line with the federal government’s broader deregulatory agenda, and ends the use of “a redundant and outdated
FHA waives disclosure as nominee for commissioner advances Read More »