Mortgage demand experienced a notable surge, reaching the highest level in five weeks, following a decline in interest rates. The Mortgage Bankers Association’s seasonally adjusted index reported a 2.8% increase in demand,... Read more »
The economic trifecta of rising interest rates, persistently high home prices and record undersupply is making home buying increasingly challenging. Every loan on your book matters more than ever; the next lead... Read more »
Both purchase and refinance applications increased to their highest weekly pace in five weeks after mortgage rates logged the largest decline in a year. Total home loan applications increased 2.8% for the... Read more »
Every borrower wants to believe their homeownership journey will be smooth sailing, without financial hardships or missed mortgage payments. But as the last few years have taught us, unforeseen events like COVID-19,... Read more »
Total mortgage delinquencies rose slightly in the third quarter of 2023 as the job market cools and inflation puts more pressure on homeowners. However, delinquency rates are still well below historical averages,... Read more »
Big Four title firm Old Republic is selling its mortgage insurance business to Arch Capital Group Ltd., according to an announcement on Monday. As part of the $140 million transaction, Arch will... Read more »
Affordability headwinds continued in the mortgage industry with mortgage rate lock volume remaining virtually flat in October. Both purchase and refinance volumes continued to wane in the face of the highest mortgage... Read more »
The biggest question in the minds of loan originators is whether mortgage rates will fall through the end of 2023, providing some reprieve from the high-rate environment that has stifled origination volume... Read more »
In September, all-cash purchases represented one-third of the U.S. home purchases, compared to 29.5% a year ago, according to a Redfin report. It’s the highest share of all-cash transactions recorded since 2014.... Read more »
In a significant turn of events, the 30-year mortgage rate in the United States has experienced its most substantial drop in nearly 16 months. This surprising development comes on the heels of... Read more »