mortgage refinancing

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

The Fed could begin tapering as soon as November, adding momentum to market forces that have been pushing mortgage rates up in recent weeks

Purchase loan applications rose 2% week over week, according to the Mortgage Bankers Association's Weekly Mortgage Applications Survey, released Wednesday

Rising mortgage rates have curbed demand for refinancing and purchase loans after inflation worries pushed rates to highest levels since July, according to the MBA

Lenders are still anticipating a shift in mortgage lending from refinancing to purchase loans, but it may not be as sudden as previously anticipated

Rise in home values may also help borrowers who decided to put their mortgage payments on hold during the pandemic

Builder backlog, ongoing listings shortages and rising home prices prompt Fannie Mae economists to cut forecast for 2021 home sales

Falling mortgage rates have fueled boom in refinancing, but demand for purchase loans has slipped, according to data from Black Knight's July Originations Market Monitor report

Black Knight payment app now tracks the current value of homeowners' property, provides refinancing rates and compares mortgage insurance prices

Purchase loan applications were down 18% from a year ago during the last week of July

But dwindling profit margins on shrinking mortgage refinancings take a deep bite out of Q2 earnings