After 2 consecutive weeks of rising demand, applications for purchase mortgages dropped last week by a seasonally adjusted 1% from the week before, and by 14% from a year ago: MBA survey
Applications for purchase loans have dropped 4 weeks in a row, plummeting by a seasonally adjusted 10% last week, according to a survey of lenders by the Mortgage Bankers Association
After picking up during the first 3 weeks of January, MBA lender surveys show applications for purchase loans are contracting, with mortgage rates no longer in free fall from 2023 highs
Following Rocket's lead, UWM and Guaranteed Rate say they'll price mortgages of up to $750K as if they're eligible for purchase by Fannie Mae and Freddie Mac in anticipation of 2024 increases
Economists are scratching their heads, and housing industry leaders are venting their frustrations as mortgage rates continue a relentless climb to new heights not seen in more than 2 decades
A decrease in applications for FHA loans popular with first-time homebuyers helped push the average purchase loan application to $432,700, according to the latest MBA lender survey
A homebuyer taking out a $300K loan could end up overpaying by $1,200 a year — and even more if they're in the market for a jumbo, FHA or VA mortgage, according to a new CFPB analysis
Purchase loan applications fell by a seasonally adjusted 4% last week as mortgage rates surged on debt ceiling and inflation worries, according to a survey by the Mortgage Bankers Association
Ongoing banking instability sparked by the failures of Silicon Valley Bank and Signature Bank may affect the availability of jumbo mortgages not eligible for purchase by Fannie Mae, Freddie Mac
Fintech focused on purchase mortgages planning to add more markets and more mortgage products later this year, now doing business in more than 1/3 of U.S. markets
To serve 5 new markets in Washington, Knock has partnered with local real estate brokerages, half of which are affiliated with Keller Williams
With the addition of Michigan and Ohio, the purchase mortgage fintech is now in 7 states
After launching in Washington and Texas, Tomo has expanded into Florida, Connecticut and Colorado
Mortgage giants ordered to exempt first-time homebuyers from increases, which could boost private lending
Rates on jumbo loans are currently lower than conventional mortgages, but could surge higher in the months ahead