Brad Finkelstein is the originations editor of National Mortgage News. Finkelstein has been with NMN since May 1990. Prior to that he was the associate editor of the Airport Press in Jamaica, N.Y., and a reporter for This Week Publications on Long Island. He is a past president of the New York Financial Writers Association.
The percentage of low down payment loans using private mortgage insurance continues to grow, and should continue as more first-time homebuyers get conforming loans, according to Keefe Bruyette & Woods.
July's new-home sales were at their highest pace since April, leading to a 3.5% year-over-year increase in mortgage applications to purchase recently constructed homes, the Mortgage Bankers Association said.