Rise in mortgage rates defies expectations as unusually wide 'spread' between 10-year Treasury yields and mortgages reflects investor fears of another refi wave
Even though the economy is probably headed for a recession next year, the Fed is seen as having a ways to go before inflation is under control
Rising demand for purchase loans and refinancing as rates climb to new highs underscores volatility, with Fed expected to continue rate hikes, according to the MBA's latest survey
Purchase loan applications continue to be weaker 'due to the combination of much higher mortgage rates and the worsening economic outlook,' said MBA forecaster Joel Kan
As rising interest rates curb mortgage refinancings, Lower will also target homebuyers through a strategic partnership with iBuyer powerhouse Opendoor
Not until next year do Fannie Mae's Economic and Strategic Research Group economists expect to see a ‘a large deceleration in home price growth,’ with some regions likely to see price declines
Economic uncertainty and stock market volatility may have helped drive 12% decline in prospective homebuyers’ purchase mortgage applications, delaying home searches
Executives say layoffs will save the company about $30M a year and help it bring its technology to bear on purchase mortgages
Lenders are managing risk by focusing on borrowers with prime credit scores who are keeping a bigger equity stake in their homes, according to Black Knight's latest Mortgage Monitor Report
Nation's biggest provider of purchase loans made 27% fewer loans to homebuyers in 2021
Demand for purchase loans remains steady, but rising rates are closing the door on refinancing opportunities, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey
Second straight week of increases in purchase loan applications following rate reversal suggests stronger sales activity in the weeks to come, according to the Mortgage Bankers Association
Requests to refinance accounted for almost two-thirds of all mortgage applications during the week ending Nov. 5
Net income down 77% from a year ago, when refinancing boom drove higher profit margins
Fannie Mae economists now expect that when the final numbers are in, sales of new and existing homes will grow by 4.7%, to 6.8M