Wednesday , 13 November 2019

Mortgage News Daily

Mortgage News Daily

Refis up Another 10% as Rates Revisit Recent Lows

Declining interest rates made for another strong week for mortgage applications . The Mortgage Bankers Association (MBA) said its Market Composite Index rose 5.2 percent on a seasonally adjusted basis during the week ended October 4.. This was on top of an 8.1 percent increase during the week ended September 27. On an unadjusted basis the index gained 5.0 percent. …

Read More »

FHFA Seeks Help in Recapitalizing Fannie/Freddie; Record Jumbo Credit; Rates Back at Lows

Wow, maybe they really mean it this time. The Federal Housing Finance Agency (FHFA) has issued a request for proposals from contractors who would develop a “roadmap” for recapitalizing the government sponsored enterprises (GSEs) as a prelude to releasing them from conservatorship . According to the request’s statement of work, the contractor will be expected to “provide financial institutions, capital …

Read More »

Refinancing Makes Sense For Nearly 8 Million Homeowners, But Rates Hit Resistance

Even with home prices in most areas now well above their pre-Great Recession highs, affordability is not terribly low by historic measures. Black Knight, in its current issue of Mortgage Monitor , says, with the 30-year fixed rate in effect at the end of September, 3.64 percent, the principal and interest payments on an average priced home required 20.7 percent …

Read More »

Freddie Sees Stronger Housing Market This Fal; Residential Construction Lagging Badly

Despite expecting an economic slowdown as reflected in the gross domestic product (GDP), Freddie Mac published a pretty upbeat September forecast as the month, the third quarter, and the government’s fiscal year ended on Monday. The company’s Economic and Housing Research Group sees consumer confidence and housing helping to shore up less positive factors. On the downside, the company expects …

Read More »

Fannie and Freddie Allowed to Make Money Again; Mortgage Rates Lowest in Weeks

Mortgage rate movement was fairly uneventful last week. The bond market (which is most directly responsible for driving day-to-day changes in mortgages rates) was focused on consolidating, meaning the gaps between lows and highs were getting smaller and smaller. At the same time, there wasn’t significant movement in the average trading prices of the bonds that underlie mortgages. In other …

Read More »

Summer Housing Boom Not Quite Done Yet; Much Calmer Day For Rates

Pending home sales resumed their upward trajectory in August after declining 2.5 percent in July, making for positive results in three of the last four months. It was also the third winning sales report this month after solid existing and new home sales . The National Association of Realtors’® (NAR’s) Pending Home Sales Index is a leading indicator of existing …

Read More »