Dip in mortgage rates doesn't do much to excite homebuyers
While purchase loan demand was still up 18% last week from a year ago, some of that demand may not translate into sales after unusual bump in cancelled purchase contracts
by Matt Carter Jun 4
Rocket will pay off $4B in Mr. Cooper debt after acquisition
Although Rocket's plans to acquire Mr. Cooper and Redfin are structured as all-stock deals, assuming their debts will leave Rocket more highly leveraged, Fitch analysts say
by Matt Carter Jun 3
UWM shrugs off $241M Q1 net loss on loan servicing writedown
Executives put a positive spin on prospects for growth, with loan origination volume up 17% from a year ago to $32.4B, with refi boom helping drive 5% increase in revenue to $613.4M
by Matt Carter May 6
Fannie Mae forecasting higher 2025 inflation, slower growth
Slowing economy could also help bring mortgage rates down to Earth more rapidly, with the latest forecast predicting rates will drop to 6.2% by the end of this year and to 6% next year
by Matt Carter Apr 30
Homebuyers respond as mortgage rates hover near 2025 lows
Purchase loan requests are up 7% from a year ago, as loosening housing inventory and a pullback in mortgage rates presents FHA buyers with more opportunities: MBA survey
by Matt Carter Mar 26
LoanDepot shares slip on $67M Q4 2024 net loss, tepid Q1 outlook
While mortgage originations were up 34% from a year ago, to $7.2B, shares dip below 12-month low after company executives said they don't expect Q1 2025 lending to surpass $5.5B
by Matt Carter Mar 11
Mat Ishbia
In a year when home sales hit a 3-decade low, the nation's biggest mortgage lender racked up a $329M profit and made $96.1B in loans to homebuyers -- the company's best year ever
by Matt Carter Feb 26
Mortgage rates climbing again on hot CPI report, Powell testimony
Trump calls for lower interest rates after release of January CPI report. Powell says Fed is in no hurry to cut rates, and bond market investors who fund mortgages are taking him at his word
by Matt Carter Feb 12
Pullback in mortgage rates spurs refis but not purchase loans
Requests to refinance were up 12% week over week and 17% from a year ago last week after rates for 30-year fixed-rate loans pulled back to the lowest level in 6 weeks
by Matt Carter Feb 5
Elevated mortgage rates continue to chill homebuyer demand
Mortgage rates are hovering near a 'key psychological level' of 7%, a likely factor in slow pace of applications for refinance and purchase mortgages, MBA Chief Economist Mike Fratantoni warns
by Matt Carter Jan 22
Mortgage demand crumbles as rates are on the rise again
With mortgage rates back to where they were last summer, purchase applications are coming in at the slowest pace since February 2024, Mortgage Bankers Association lender survey finds
by Matt Carter Jan 8
New York City real estate mogul Jacob Chetrit dies
Jacob Chetrit, a prominent figure in New York City and Florida real estate and a member of the influential Chetrit family, has died, The Real Deal reported Saturday
by Richelle Hammiel Jan 6
December Fed rate cut seen as a lock — then caution may prevail
The latest CPI reading is in line with expectations, but progress in the fight against inflation has stalled, economists warn. A slower pace of easing might keep mortgage rates above 6% in 2025
by Matt Carter Dec 11
Rocket boosts market share, posts $481M Q3 loss on writedowns
Looking beyond paper writedowns in the fair value of its mortgage servicing rights, CEO Varun Krishna is pleased as Q3 mortgage originations climb 28% from a year ago
by Matt Carter Nov 12
Profits roll in at Mr. Cooper as it pursues tech-fueled growth
Deal to acquire Flagstar’s mortgage servicing business later this year is projected to grow Mr. Cooper's customer base to nearly 7M and servicing portfolio to $1.59T
by Matt Carter Oct 23