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Industry News
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Featured Items
- Homebuyer Mortgage Demand Spikes 33% as Rates Set Another Record Low
- Mortgage applications to purchase a home rose 5% for the week and were a remarkable 33% higher than a year ago, according to the Mortgage Bankers Association’s index. learn more
- Mortgage Rates Reach Record Lows – Is Now The Right Time To Buy A House?
- On the plus side, house prices have held steady and even increased slightly in the face of the economic shutdown that followed the pandemic. learn more
- Foreclosure Threat Grows as COVID-19 Surges, Fed Says
- The danger of mortgage forbearances turning into foreclosures is rising as COVID-19 infections surge in the U.S., according to the Federal Reserve Bank of Atlanta. learn more
- Mortgage Rates Just Hit a New Low Again
- With remarkable regularity, each new month seems to send the 30-year fixed-mortgage rate down to a historic low. learn more
- As the Fed’s Powell Sounds Alarm, Mortgage Rates Tank Below 3%
- In two days of testimony to Congress this week — including an appearance on Tuesday in which he wore a mask and had a pump-bottle of hand sanitizer nearby — the leader of America’s central bank said the economy faces an “extraordinarily uncertain” recovery from the coronavirus pandemic. learn more
- After Ruling, Stage Set for New Battles over CFPB’s Future
- The Supreme Court threw out a key statutory provision concerning the agency’s leadership structure, but the presidential election and possible legislative reforms could bring about more changes to the embattled bureau. learn more
- Mortgage Rates Remain at Historic Lows
- The rate for the popular 30-year mortgage remained at a record for a second week, according to data released Thursday by Freddie Mac, as the economy continued to grapple with the fallout from the coronavirus pandemic. learn more
- Mortgage Lending Will Surge to a 14-Year High, MBA Says
- Combined lending for home purchases and mortgage refinancings probably will total $2.65 trillion this year, the most since the $2.74 trillion seen 14 years ago, as low rates spur demand, according to Michael Fratantoni, chief economist of the Mortgage Bankers Association. learn more
- Mortgage Rates Drop to Another Record Low–Here’s Why Americans May Not Want to Wait…
- Low mortgage rates are stoking the housing market’s recovery from the coronavirus, but there may be limits to how much of a boost they will give. learn more
- Mortgage Rates Plunge to Record Lows
- Mortgage rates keep finding new lows as concerns about the U.S. economy’s recovery mount. learn more
- More Than Half Of Home Sellers Willing To Accept A Lower Offer Price Amid COVID-19
- Nearly 70% of home sellers are willing to accept a lower purchase price just to reach the closing point, according to a new LendingTree survey. learn more
- Mortgage Lenders ‘Make Hay’ With Loan Spreads Widest Since 2008
- Unemployment is high. Credit is tight. learn more
- Record Mortgage Applications as Americans Rethink Importance of Home: Quicken Loans CEO
- Americans are applying for mortgages at record levels amid a low interest rate environment, as many rethink the importance of home, Quicken Loans CEO Jay Farner said Monday. learn more
- Mortgage Rates Level Off Amid Conflicting Economic News
- The unexpected decrease in unemployment last week followed by confirmation that the U.S. economy officially went into a recession in February held mortgage rates in check this week. learn more
- Mortgages In Forbearance Rise Slightly
- This week’s Forbearance and Call Volume Survey (for the week ending May 24, 2020) from the Mortgage Bankers Association finds that the number of mortgages nationwide now in forbearance increased to 8.46%, up 0.10% over last week’s 8.36%. learn more
- How Lenders are Preparing for a Wave of Loan Modifications
- For the first weeks of the coronavirus crisis, mortgage servicers were in triage mode. learn more
- Housing Market is Unexpected Stalwart in Pandemic Shutdown
- Stuck day and night in their homes, a surprising number of Americans are deciding the pandemic is a great time to upgrade. learn more
- Virus-Impacted Borrowers Missing Out on Today’s Record-Low Rates
- Rates for a 30-year fixed mortgage just fell to all-time lows. learn more
- Hoyer Says House and Senate Close on PPP Loan Extension
- House Majority Leader Steny Hoyer said the House and Senate should be able to quickly agree on changes to the Small Business Administration’s popular Paycheck Protection Program to give loan recipients more flexibility in using funds. learn more
- Rock-Bottom Interest Rates May Be Here to Stay
- Once the labor market begins to recover, the Federal Reserve’s experience in the pre-pandemic, record-long economic expansion is likely to influence when its raises rates. learn more
- Weekly Mortgage Applications Point to a Remarkable Recovery in Homebuying
- If mortgage demand is an indicator, buyers are coming back to the housing market far faster than anticipated, despite coronavirus shutdowns and job losses. learn more
- Fewer Borrowers are Asking for Mortgage Relief, But That Could Change With Bailout Improvements
- The payment deferral option gives mortgage servicers a practical tool to help homeowners through this unprecedented time,” learn more
- Some Homeowners are Getting Mortgage Bailouts by Mistake, and It’s Keeping them from Refinancing
- More than 4 million homeowners are now delaying their monthly mortgage payments as part of both government and private lender relief programs – but some have been put into forbearance by mistake and are having a hard time getting out. learn more
- Mortgage Catch-22: Interest Rates are Lower than Ever, But Millions of Borrowers Can’t Get a Loan
- As rates fell, making getting a mortgage a more enticing option for people, it also became much harder for certain people to get a loan. learn more
- New Data: Mortgage Loans Are Getting Increasingly Harder To Come By
- A mortgage loan hasn’t been this hard to come by in over five years. learn more
- Mortgage Rates Rise from Record Lows–And Signs are Emerging that Americans are Preparing to Re-Enter the Home-Buying Market
- Until now, lenders’ loan application volume in recent months was largely dominated by homeowners looking to refinance, given the low rates. learn more
- Mortgage Rate Gap Widens Between Higher and Lower Credit Score Borrowers
- Right now, a high credit score can mean getting up to 83 basis points shaved off your mortgage interest rate compared to people with lower scores. learn more
- Nearly 4 Million Homeowners are No Longer Paying their Mortgages
- Over 26 million Americans have filed for unemployment over the last month, leading to nearly 7 percent of all mortgage borrowers asking to be put into forbearance plans,” Mortgage Bankers Association Chief Economist Mike Frat Antoni said. learn more
- Weekly Mortgage Applications to Buy a Home Make a Strong Recovery, as Rates Hit a New Record Low
- Mortgage applications to buy a home rose last week, but refinance demand fell, causing total application volume to decline by 3.3% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index. learn more
- Share of U.S. Mortgages in Loan Forbearance Jumps to 7 Percent in Mid-April
- According to the Mortgage Bankers Association’s latest Forbearance and Call Volume Survey, the number of U.S. loans now in forbearance increased from 5.95% of servicers’ portfolio volume in the prior week to 6.99% as of April 19. learn more
- Mortgage Chaos Threatens to Worsen Once It’s Time for Repayments
- Lenders and veterans of the 2008 financial crisis warn the real chaos won’t start until the pandemic passes. learn more
- Mortgage Bailout Balloons by Half a Million More Loans in One Week
- We continue to call on the Treasury and Federal Reserve to provide a liquidity facility to ensure that servicers can continue their important work of advancing missed payments to investors as well as paying property taxes and insurance premiums on behalf of struggling borrowers,” said Bob Broeksmit, CEO of the Mortgage Bankers Association. learn more
- Fannie, Freddie May Soon Buy Home Loans in Forbearance to Help Mortgage Firms
- The Federal Housing Finance Agency is weighing whether to allow Fannie Mae and Freddie Mac, the government-controlled mortgage-finance giants, to buy home loans that recently entered forbearance, meaning borrowers have stopped making payments. learn more
- More U.S. Homeowners Skip Mortgage Payments with Jobs Vanishing
- Mortgage servicers, who are facing a potential liquidity crisis, would need to advance $2.3 billion a month to make good on payments due to investors in government-guaranteed mortgage-backed securities. learn more
- Mortgage Rates Almost Drop to Another Record Low–Here’s Why a Housing Market Slowdown Won’t Necessarily Push Them Lower
- The housing sector is going through a major upheaval because of the coronavirus, but that won’t necessarily translate to lower mortgage rates. learn more
- Weekly Mortgage Applications Rise as Rates Drop to 30-Year Low, But It’s All Refinances
- Despite wider-than-usual daily swings last week, mortgage rates dropped to the lowest level ever in the Mortgage Bankers Association’s 30-year-old weekly survey, causing yet another rush to refinance. learn more
- Mortgage Forbearance Numbers up Due to COVID-19
- More Americans are putting their mortgage payments on hold. learn more
- Nearly 4% Of All Mortgage Loans Now In Forbearance
- Loans serviced by independent mortgage banks are seeing the highest share of loans in forbearance at 4.17%. learn more
- Lenders Get Stricter as Some Borrowers Think they Don’t Have to Pay
- Standards for home loans are tightening by the hour as companies like United Wholesale Mortgage, the nation’s largest wholesale lender, beef up rules to ward off early defaults from people losing jobs because of the COVID-19 pandemic. learn more
- Calabria: No Servicer Liquidity Facility Coming, But GSEs May Pull Servicing from Struggling Companies
- Despite growing calls from the housing industry for a federally backed liquidity facility for servicers to address the increase in forbearance due to the coronavirus, Federal Housing Finance Agency Director Mark Calabria told HousingWire Tuesday that no such facility is coming. learn more
- Coronavirus Mortgage Bailout: ‘There’s Going to be Complete Chaos,’ Says Industry CEO
- A broad coalition of mortgage and finance industry leaders on Saturday sent a plea to federal regulators, asking for desperately needed cash to keep the mortgage system running during the coronavirus pandemic, as requests from borrowers for the federal mortgage forbearance program are pouring in at an alarming rate. learn more
- How to Suspend Your Mortgage Payments During Coronavirus Turmoil
- “I always stress: if you’re not affected and able to make your payments, please keep doing so,” said Bob Broeksmit, chief executive officer of the Mortgage Bankers Association. learn more
- Mortgage Relief Is Only for Those Who’ve Lost Jobs, Mnuchin Says
- Treasury Secretary Steven Mnuchin said only homeowners who have lost their jobs because of the coronavirus crisis will qualify for new government programs that let borrowers put off mortgage payments. learn more
- Homeland Security Says Real Estate is ‘Essential Business’
- As the real estate industry remains split on whether the services it provides are “essential” during a pandemic, one federal agency has weighed in with an emphatic “yes.” learn more
- Coronavirus Poses New Threat to Mortgage Industry
- “There have been plenty of natural disasters where this system performs well,” said Mike Fratantoni, chief economist at the Mortgage Bankers Association. learn more
- Mortgage Industry Seeks Billions in Federal Help as Homeowners Stop Paying Their Loans
- Without federal assistance, said Bob Broeksmit, President and CEO of the Mortgage Bankers Association, a large industry trade group, some mortgage servicers say they could go out of business within a few months, potentially making it more difficult for homeowners to secure mortgage relief as the U.S. economy grinds to a halt to contain the growing pandemic. learn more
- Weekly Mortgage Applications Activity Drop Over 8% as Interest Rates Jump Briefly
- A sudden spike in mortgage rates caused an abrupt end to the recent refinance boom, pushing total mortgage application volume down 8.4% last week from the previous week, according to the Mortgage Bankers Association. learn more
- As the Coronavirus Spreads, a Question: ‘Will Mortgage Rates Stay Low?’
- Rates will “likely stabilize but remain low for now,” said Joel Kan, associate vice president of economic and industry forecasting at the Mortgage Bankers Association, which should help borrowers seeking to refinance or buy a home this spring. learn more
- Lenders Are Deluged With Refinance Requests as Coronavirus Sends Rates Lower
- Record low mortgage rates are delivering more refinancing demand than some lenders can handle. learn more
- Wall Street’s Bond Rally Isn’t Lowering Mortgage Rates on Main Street
- The epic bond rally on Wall Street isn’t trickling down to Main Street in the form of significantly lower mortgage interest rates. learn more
- Fear Isn’t the Only Driver of the Treasury Rally: Banks Need to Hedge Their Mortgages
- Banks need to buy around $1.2 trillion of 10-year Treasurys to offset risks on mortgages and bank deposits. learn more
- Homeowners Are in a Frenzy to Refinance as Mortgage Rates Nose-Dive
- The 30-year fixed rate mortgage dropped to its lowest level in more than seven years last week, amidst increasing concerns regarding the economic impact from the spread of the coronavirus, as well as the tremendous financial market volatility. learn more
- Mortgage Lenders are Hiring Like Mad to Handle Demand as Rates Plunge
- Executives at four of the nation’s 15 biggest mortgage lenders, already gearing up for a busy 2020, anticipate hiring thousands of employees this year to keep up with what they expect to be a flood of demand for purchase loans and refinancings. learn more
- Mortgage Rates Just Hit an 8-Year Low. Here’s Why They’re Not Even Lower
- Mortgage rates are not falling quite as fast as Treasury yields, because of the swiftness of the declines and the resulting risk to investors in mortgage-backed bonds. learn more
- Mortgage Rates Head Back Down on Coronavirus Fears
- Volatility in the financial markets did not move mortgage rates much this week. learn more
- Mortgage Rates are Plunging With the Financial Markets, But Why Aren’t They Even Lower?
- Amid a wave of selling in the stock market driven by coronavirus concerns, the 10-year Treasury note, a key bellwether for mortgage rates, plunged to a record low of 1.31 percent on Tuesday, breaking a low set in July 2016. learn more
- The 10-Year Treasury Yield Sets a New All-Time Low–Here’s Why
- A day after U.S. stock benchmarks recorded their biggest one-day selloff in two years, investors are taking shelter in the deepest, most liquid haven asset in the world: U.S. Treasurys. The 10-year Treasury note yield fell 4.9 basis points to trade at 1.328% on Tuesday. learn more
- Coronavirus Fears Could Push Mortgage Rates Past 4-Year Low
- As coronavirus fears hit financial markets, U.S. bond yields are tanking, pushing mortgage rates that loosely follow the 10-year Treasury yield toward a four-year low. learn more
- GSEs May be Freed with Treasury Backstop, Mnuchin Says
- Fannie Mae and Freddie Mac are expected to retain “limited and tailored government support” after they are freed from U.S. control, Treasury Secretary Steven Mnuchin said in a letter to lawmakers seeking information on the Trump administration’s plans for the mortgage giants. learn more
- Mortgage Rates Hover Near Record Lows, But Americans Pay Much More
- Mortgage rates are now hovering near all-time lows, causing a spike in refinancing in January. learn more
- Refinance mortgage applications reach highest level since 2013 ?
- Refinance application activity last week was the highest in nearly seven years, with more than triple the volume from one year ago, according to the Mortgage Bankers Association. learn more
- Mortgage Investors Brace for Coming Wave of Loan Refinancings
- With the 30-year mortgage rate just 14 basis points above its all-time low of 3.31% seen in November 2012, mortgage-backed security investors are bracing themselves for a wave of refinancings in the coming months. learn more
- 5 Questions to Ask Yourself Before You Refinance Your Mortgage
- Refinance loan volume jumped to the highest level since 2013 last week, especially among jumbo mortgage borrowers, on the heels of lower mortgage rates, according to data from the Mortgage Bankers Association. learn more
- Falling Rates Could Boost Mortgages Ahead of Spring Selling Season
- Mortgage rates are at their lowest level in more than three years, potentially boosting the U.S. housing market as it enters the crucial spring selling season. learn more
- Fixed Mortgage Rates Hit Three-Year Lows But May be Headed Higher Soon
- Fixed mortgage rates sank to their lowest level in three years on fears about the economic impact of the coronavirus. learn more
- Mortgage Credit Availability Tumbles to 5-Year Low
- Availability of mortgage credit in March crashed to the lowest level since June 2015, led by a pull-back in jumbo and non-QM lending, according to the Mortgage Bankers Association. learn more
- America’s Housing Market is Showing the First Signs of Trouble Because of the Coronavirus Pandemic
- Sellers appear to be holding off on listing their homes for sale in anticipation of less buyer traffic during the normally busy spring home-buying season. learn more
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