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Industry News
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Featured Items
- Rising Mortgage Delinquencies to Show up in 2021
- The refinance boom is edging toward its third birthday, but like all good parties, it will be coming to an end. learn more
- Fannie, Freddie Overseer Looks to End Federal Control Before Trump Leaves
- The federal regulator who oversees Fannie Mae and Freddie Mac is pushing to speed up the mortgage giants’ exit from 12 years of government control but has yet to reach an agreement he needs with Treasury Secretary Steven Mnuchin. learn more
- MBA Expects Purchase Originations to Break Records Next Year
- The Mortgage Bankers Association predicted that purchase originations would continue their upward march next year, hitting a record $1.60 trillion in 2021. learn more
- ‘Blue wave’ in Georgia runoffs would change mortgage rate outlook
- Rates could be 50 basis points steeper than the MBA’s current projections, which anticipate the 30-year mortgage will average 3.6% next year, up from 3% this year. learn more
- Refinancing Boom Continues in 2020 as Rates Remain Low
- Refinancing activity is expected to soar by nearly 71% this year according to the Mortgage Bankers Association. learn more
- Mortgage Rates Climb on News of Coronavirus Vaccine Breakthrough
- Mortgage rates rose last week, according to a Freddie Mac survey released Thursday, amid a mixed stock market sparked by investors reacting to a breakthrough coronavirus vaccine and a growing caseload. learn more
- What the 2020 Election Results Mean for Mortgage Rates
- Joel Kan, the Mortgage Bankers Association’s associate vice president of economic and industry forecasting, said upward pressure from other strong economic indicators could move rates higher, but it’s hard to say for sure what will happen immediately, or to pin a rise in rates — if it does happen — to the election results alone.” learn more
- Embracing Technology Will Be Key for Lenders and Title Companies in 2021
- “Having good relationships is good business,” said Rick Hill, vice president of industry technology at the Mortgage Bankers Association. learn more
- Will the End of Forbearance Mean a Wave of Foreclosures?
- Sen. Sherrod Brown, D-Ohio, ranking member of the Senate Banking Committee has repeatedly accused the director of the Consumer Financial Protection Bureau of putting corporations’ interests ahead of consumers and dropping the ball on mortgage relief awareness. learn more
- Why The Mortgage Refinance Window Could Close in the Coming Months
- Many housing economists now expect mortgage rates to edge up gradually from recent record lows. learn more
- Sorry Lenders: FHFA, GSE Officials Say Mortgage Refi Fee is on Track
- There’s been hope among lenders who sell loans to the government-sponsored enterprises that a pending 50-basis-point refinance fee that’s been postponed could be entirely avoided. learn more
- Why Are Home Prices Rising So High? Blame Record-Low Mortgage Rates
- Prices were 12.2% higher than they were a year ago for the week ending Oct. 10, according to Realtor.com data learn more
- Weakened U.S. Consumer Watchdog Expected to Bite Back if Biden Wins Election
- A decade-long Republican campaign to weaken the U.S. consumer watchdog’s independence is set to backfire if Democrat Joe Biden wins the presidential election learn more
- How Much Further Could Record Low Mortgage Rates Fall?
- Mortgage rates this week shattered a new record, falling to 2.81%—the lowest rate on the books, according to Freddie Mac’s Primary Market Survey. learn more
- 30-Year Mortgage Rate Drops to Record
- October 15, 2020 learn more
- Mortgage Rates in U.S. Fall to New Record Lows, MBA Report Says
- Mortgage rates in the United States have fallen to a new record low but applications are down, an industry report said Wednesday. learn more
- Considering the Availability of Forbearance, Why are 400K Americans Behind on Their Mortgages?
- A new report from the Urban Institute found that, despite forbearance having been made an accessible option back in April, there are still hundreds of thousands of Americans with what the Institute calls “needlessly delinquent mortgages.” learn more
- COVID-19 Spurred a New Home-Buying Frenzy, But is it Becoming Harder to Find a New Home?
- Even during an ongoing pandemic, there is still a demand to buy homes. learn more
- Will Mortgage Rates Move Higher or Lower to End the Year?
- With history offering no other year quite like this one, it’s tough to say what else 2020 has in store, though signs point to low mortgage rates and strong home buying. learn more
- Mortgage rates tick up, but there is room to move lower ?
- Mortgage rates experienced a marginal uptick this week, rising three basis points. learn more
- Mortgage Demand from Homebuyers Now Up 25% from a Year Ago
- After a brief lull to start the month, mortgage demand surged ahead yet again — even with the highest interest rates in several weeks. learn more
- Ultra-Low Mortgage Rates are Hard to Find Due to New Fee
- Mortgage rates soared over the course of the last week, a daily survey shows, and the apparent reason was a new fee on refinance loans that’s technically months away. learn more
- Lenders Don’t Have the Capacity to Meet Mortgage Demand’…
- It’s not that they [lenders] don’t want to drop rates. learn more
- Will Changes at Fannie Mae and Freddie Mac Mean Higher Rates?
- I cannot make a single argument in support of the GSEs’ decision to impose a 50 basis point price increase on all refinances, effective Sept. 1,” said Bob Broeksmit, president and CEO of the Mortgage Bankers Association (MBA). learn more
- Housing is Still Holding Up the Economy. It’s So Not Like 2008
- The stock market continues to be volatile and the job market is still in worse shape than where it was before Covid-19 plunged the United States into recession. learn more
- Mortgage Refinances Are Up Over 200% From Last Year. Should You Hop on the Bandwagon?
- It’s not surprising that refinance is up more than 60% from the first quarter and more than 200% from the same time last year, according to Black Knight. learn more
- Mortgage Rate and Housing Market Predictions for Late-2020
- For now, record-low mortgage rates seem set to continue. learn more
- CDC’s New Eviction Moratorium Met with Worry from U.S. Housing Providers
- Mortgage Bankers Association CEO Bob Broeksmit described the destabilizing cascade effect a lack of rent payments could have on the country’s housing providers, “millions” of whom, he said, “will be unable to meet their mortgage obligations, make payroll to their own employees, maintain a safe and healthy living environment for their tenants, and pay their state and local government property taxes.” learn more
- ‘Extraordinary’ Move by CDC to Stop Evictions Draws Heavy Criticism from Housing Industry and Tenant Advocates
- “If tenants are unable to pay their rent, then millions of our nation’s housing providers – learn more
- Why Have Banks Stepped Back From Mortgage Servicing?
- MBA Chief Economist says U.S. laws and regulations implemented over the past decade have increased the cost and risk of mortgage lending and servicing, causing many banks to step back from the market. learn more
- Why the Coming Foreclosure Crisis Will Look Nothing Like the Last One
- At first glance, projections look bad. learn more
- Fed Approves Shift on Inflation Goal, Ushering in Longer Era of Low Rates
- The Federal Reserve approved a major shift in how it sets interest rates by dropping its longstanding practice of pre-emptively lifting them to head off higher inflation, a move likely to leave U.S. borrowing costs very low for a long time. learn more
- Mortgage Demand from Homebuyers Spikes 33% Annually, Signaling No End to Summer Spree
- Mortgage applications to purchase a home rose just 0.4% last week from the previous week but were a remarkable 33% higher than a year ago, according to the Mortgage Bankers Association. learn more
- It’s Unanimous: Every Banking Association Hates FHFA’s New Refi Fee
- Housing industry groups have been nearly unanimous in condemning the Federal Housing Finance Agency’s recently announced decision to add a 50-basis-point fee to most refinances. learn more
- Fannie Mae and Freddie Mac CEOs Address Industry on Refinance Fee Grievances
- Contrary to much of the criticism we have received since making this announcement, this will generally not cause mortgage payments to ‘go up.’” learn more
- Six Facts You Should Know about Current Mortgage Forbearances
- Timely data on forbearance since the pandemic began, provided by the Mortgage Bankers Association, Black Knight and the US Census Bureau, reveal six important facts but suggest a need for more data to allow policymakers to better understand how to support homeowners during this crisis. learn more
- More Industry Groups Express Outrage at New GSE Refi Fee
- More industry groups – and even the White House – have joined the chorus of condemnation following the FHFA’s surprise announcement last week that Fannie Mae and Freddie Mac will begin charging a 50-basis-point fee on most refinances. learn more
- Want to Refinance Your Home Loan with Record-Low Rates? Get Ready for a Hefty Fee
- Starting next month, all home mortgages that are refinanced will have to pay half of 1% of the loan. In other words, $1,500 for a $300,000 mortgage. learn more
- Mortgage Refinancing Will Be More Expensive as Fannie Mae and Freddie Mac Raise Fees
- The move was met with strong criticism from the mortgage industry, seen as a slap in the face of the one sector of the economy that has been thriving during the pandemic. learn more
- Bankers Don’t See Economy Recovering Anytime Soon
- More than a third fear the fallout from the coronavirus pandemic could drag into 2022 or later, and they are most worried about commercial real estate loans, according to a Promontory Interfinancial Network survey. learn more
- Fed Inflation Plan Could End Rock-Bottom Mortgage Rates
- The Federal Reserve is considering abandoning its longtime strategy of using its benchmark rate to pre-emptively prevent inflation from rising above its 2% target. learn more
- Home Prices See Strong June Bounce, But Economists Warn it Likely Won’t Last
- Home prices increased by 4.9% annually in June, a much greater gain than the 4.1% annual rise in May, according to CoreLogic. learn more
- Mortgage Rates Just Fell to Another Record Low, And Experts Think They’ll Fall Even More
- How low can they go? learn more
- Will GOP Plan to Slash Unemployment Trigger Wave of Loan Defaults?
- “It is something we’ve been concerned about,” said Bill Kilmer, senior vice president for legislative and political affairs at the Mortgage Bankers Association. learn more
- Republican Stimulus Package May Come With a Benefit for Big Banks
- The chairman of the Senate Banking Committee, Sen. Mike Crapo, R-Idaho, is preparing to relax capital requirements imposed in the wake of the 2008 financial crisis. learn more
- Mortgage Rates Just Hit Another Record Low, And Here’s How Much Lower They Can Go
- refinance volume has been incredibly strong this year, with applications last week up 122% annually, according to the Mortgage Bankers Association. learn more
- Millions of Americans Have their Mortgages in Forbearance Programs–Here’s Why Those Using Private Lenders May Face Bigger Challenges
- Nearly four months after banks and federal agencies started offering a number of assistance programs aimed at giving Americans a break on their mortgages, about 4.1 million homeowners remain in forbearance plans. learn more
- COVID Housing Update: Forbearance Options Going Forward
- No one knows exactly how many borrowers will find themselves in deep trouble when their government-mandated forbearance plans end Aug. 31. learn more
- 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
- 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
- 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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