Mortgage News Daily

Mortgage News Daily

Housing Leaders Talk Reform; Great Week for Rates; Could FHA’s Permanent MI be Changed?

Attendees at the Ginnie Mae Summit commemorating the agencies 50 th anniversary on Thursday heard from both Dr. Ben Carson, Secretary of the Department of Housing and Urban Development (HUD) and Dr. Mark A. Calabria, newly confirmed director of the Federal Housing Finance Agency (FHFA). Each addressed their plans for updating their respective housing finance components. Calabria spoke first to …

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Affordable Housing Initiative; New Home Sales Seen Rising; Rates Easing Toward Lows; Lenders are Happy

The Mortgage Bankers Association (MBA) released its regular monthly estimates for new home sales on Thursday and also announced a new initiative to promote affordable housing. The initiative, to be headed by Steven O’Connor, MBA’s Senior Vice President for Public Policy and Industry Relations, is intended “to help develop stronger and more effective affordable housing partnerships in both the policy …

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Equity is on the Rise, Slightly Faster Than Home Prices; Rates Finally Bounce; Good Times Over?

The increase in homeowner equity has slightly exceeded the pace of housing appreciation. CoreLogic says that the 63 percent of homeowners nationally who have a mortgage on their property saw their equity grow by 5.6 percent between the first quarter of 2018 and the same quarter in 2019. The national increase in the value of homeowner equity aggregates to nearly …

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Mortgage Profits Surge; Awesomely Flat Rates; What’s Hurting Homeownership?

The financial situation for mortgage lenders brightened considerably in the first quarter of this year, although profitability is way down from post-recession peaks. The Mortgage Bankers Association (MBA) said the average gain on each loan originated by the independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks responding to its survey was $285. In the fourth quarter of 2018 …

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Fannie/Freddie Single MBS is Live; Rates Nearly Flat Despite Scary Market Movement: Patience or Panic?

Mortgage rates hit their best levels since late 2017 yesterday and have generally been making stellar moves for the past 2 weeks. To be fair, it’s been the broader bond market (which dictates mortgage rates, among other things) that’s been making the most stellar moves. Mortgages merely got pulled along for the ride. It’s disconcerting and perhaps even alarming , …

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Mortgage Rates Continue to Plummet; Early Payoffs, Refi Pool, and Affordability all Growing

Mortgage rates dropped quickly again today, easily hitting the lowest levels since late 2017 for the average lender. The move comes in response to a surge in volatility and perhaps even a wave of panic in financial markets. Stocks have fallen somewhat swiftly as trade tensions increasingly look like an ongoing narrative as opposed to a temporary issue. The bigger …

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