Demand for purchase mortgages has picked up in 5 out of the past 6 weeks, and applications to refinance have roared back, jumping 27% from a year ago, MBA survey shows
Requests for purchase loans were up 4% last week compared to the week before, but down 20% from the same time a year ago, Mortgage Bankers Association's weekly survey of lenders finds
Demand for purchase mortgages hit the lowest level since 1995 last week, but relief could be in sight after Federal Reserve policymakers elected not to hike short-term rates on Wednesday
After dipping to lowest level since April 1995, applications for purchase mortgages edge up 2% week over week but remain down 27% from a year ago as mortgage rates retreat from 2023 highs
At $4.55B, loanDepot's Q2 purchase loan originations were up 30% from Q1, thanks in part to the seasonal boost provided by spring homebuyers, but down 52% from a year ago
Detroit-based mortgage giant returned to profitability during the spring homebuying season by slashing costs and boosting its market share in the face of severe inventory shortages
Mortgage rates are expected to ease as markets anticipate Federal Reserve policymakers will raise rates just 1 more time this year and then reverse course
The unusually wide 'spread' between 10-year Treasury yields and 30-year fixed-rate mortgages means mortgage rates could have more room to come down
Acquisition of Colorado-based Cherry Creek Mortgage expands Guild's retail branch network by 68 offices in 45 states, adds reverse loan options
Demand for purchase loans down 18% week over week and 41% from a year ago as mortgage rates rise for the second week in a row to hit new 2023 highs, MBA survey shows
Mortgage rates have been inching up from 2023 lows following a strong jobs report and January's Consumer Price Index readout, which shows only a slight cooling in inflation
Strong job numbers spark fears that the Fed will need to stick to its guns and continue to raise rates and keep them elevated for some time to fight inflation
Comparing himself to Henry Ford and Elon Musk, CEO says he's reconfigured Better's assembly line to crank out mortgages in a single day
Demand for purchase loans has increased in 5 out of the past 6 weeks, according to a weekly survey of lenders by the Mortgage Bankers Association released Wednesday
As mortgage rates continue to retreat from 2022 highs, all eyes will be on Federal Reserve as policymakers conduct their final meeting of the year next week