Mortgage News Daily

Mortgage News Daily

Lenders Manage Tiny Profits in 2018 Despite Rate Hikes, Inventories; Europe Helping Bonds; Don’t Count Chickens

Despite their fourth quarter loss reported last month, independent mortgage banks and bank mortgage subsidiaries still managed, albeit barely, to stay in the black last year. The Mortgage Bankers Association (MBA) said that banks responding to its survey made an average profit of $367 on each loan they originated last year, down from $711 per loan in 2017. They lost …

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Mortgage Rates End Week at Highest Levels as Bonds Defend Important Ceiling

Mortgage rates rose fairly quickly on Friday, depending on the lender and the scenario. Bonds (which dictate mortgage rates and interest rates in general) weakened overnight on a variety of foreign and domestic data. While we can’t necessarily be sure that one particular development was more responsible for the move than another, we can observe that most of the damage …

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2018 Set Record for Commercial/Multifamily Lending; Rates Stay Flat; Brexit Punt Delays Game

Multifamily properties led the list of investments in what was a record year of of commercial and multifamily lending in 2018. Commercial and multifamily mortgage bankers closed $573.9 billion in loans during the year according to results from a Mortgage Bankers Association (MBA) survey. The total represents an 8 percent increase from the volume in 2017. Multifamily lending accounted for …

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Mortgage Apps Ebb Last Week’s Epic Run; Builders Hint at Strong Spring; Lowest Mortgage Rates in April

The rally in mortgage application volume that sent several of the Mortgage Bankers Association’s (MBA’s) metrics to recent highs at the end of March faded last week as interest rates reversed course. The unexpected boom in refinancing ratcheted down, and purchase applications returned to more modest gains. MBA said its Market Composite Index, a measure of loan application volume, declined …

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Mortgage Delinquencies Down, Other Consumer Debts Creep Up; Rates Edge Higher

CoreLogic says mortgage delinquencies in January were the lowest for that month in 20 years . Meanwhile, in a separate report, they note that non-mortgage consumer debt has been edging up, due in part to a deterioration in lending standards. The company’s Loan Performance Insights Report for January puts the national delinquency rate (the percentage of outstanding mortgage loans that …

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