Mortgage rates eased Friday as investors took stock of new data showing employers added 151,000 workers to their payrolls in February and the unemployment rate ticked up to 4.1%
Requests to refinance surged 37% last week and were up 83% from a year ago after the biggest 1-week decline in mortgage rates since November, the MBA's latest weekly lender survey shows
Revenue from Blend's biggest business, its mortgage software suite, fell 6% in 2024 to $73.3M. A 42% increase in consumer banking suite revenue, to $33.7M, more than made up the difference
Demand for purchase mortgages fell by a seasonally adjusted 7% last week, and requests to refinance were down 26% as mortgage rates continued to climb, MBA survey finds
Strong job market rekindles inflation worries, raising the prospect that Federal Reserve policymakers are increasingly likely to cut rates by only a hair in November -- if at all
The Fed doesn't have direct control over mortgage rates, but they've come down dramatically as investors are convinced policymakers will cut rates at their 3 remaining 2024 meetings
One issue for would-be homebuyers seeking jumbo mortgages is that rates haven't come down as dramatically as they have for conforming mortgages eligible for purchase by Fannie and Freddie
Bond market investors shrug off Federal Reserve Governor Christopher Waller's warning that he wants to see 'several more months of good inflation data' before cutting rates
Requests for purchase loans dropped by 1% last week compared to the work before and were off 15% from a year ago, according to the latest Mortgage Bankers Association lender survey
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
Nation's largest mortgage lender trims its $300B servicing portfolio by nearly one-fourth, selling $70B in mortgage servicing rights for $941.2M, excess cash flows on $19.4B in loans for $150.9M
With mortgage rates hovering above 7%, requests for purchase loans were down by a seasonally adjusted 5% week over week and 2% lower than a year ago, MBA lender survey finds
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
The trend could bode well for the spring homebuying season, the Mortgage Bankers Association said Wednesday, but Federal Reserve policymakers may take their time before cutting rates
Demand for purchase loans picks up for 4th consecutive week, and bond market investors are pushing rates lower on hopes for Fed easing as inflation subsides