Mortgage applications

There was a huge rise in mortgage refinance application activity due to the large drop in interest rates following last week's Federal Open Market Committee meeting.

University Bancorp gained a number of offices from Huron Valley Financial. It also hired lenders and staff with experience in reverse mortgages and wholesale lending.

Mortgage applications increased last week but unlike the prior period, it was driven by refinance volume as interest rates fell to a one-year low, according to the Mortgage Bankers Association.

The bank was fined $25 million for what the Office of the Comptroller of the Currency said was an inability to provide the discounts to all who were eligible.

New-home mortgage applications are on the rise, incentivizing builders to add housing stock in a market drained of supply and signaling a healthy spring buying season ahead, according to the Mortgage Bankers Association.

The Federal Housing Administration is moving forward with a long-delayed plan to reduce the term of the home warranty required for high loan-to-value mortgages on new houses.

Purchase application volume increased, both week-to-week and year-over-year, as high-end buyers as well as those that need government loans entered the market, according to the Mortgage Bankers Association.

Mortgage applications decreased 2.5% from one week earlier, although conventional purchase loan volume and amount is on the rise, according to the Mortgage Bankers Association.

Mortgage applications increased 5.3% from one week earlier, as the stable rate environment enticed homebuyers into the market, according to the Mortgage Bankers Association.

Mortgage applications rose for the first time in five weeks as key interest rates held steady, according to the Mortgage Bankers Association.