Mortgage applications rose 2.4% on a seasonally adjusted basis for the week ended March 25, according to the Mortgage Bankers Association of America's Weekly Mortgage Applications Survey.On an unadjusted basis, applications were up 2.4% on the week, but down 36.5% from the level recorded a year earlier. On a seasonally adjusted basis, the Purchase Index rose from 446.4 to 470.9, and the Refinance Index fell from 1894.4 to 1857.2. Refinancings represented 37.8% of total applications, up from 39.5% the previous week, while adjustable-rate mortgages accounted for 36.6%. The average contract interest rate for 30-year fixed-rate mortgages increased from 5.95% to 6.08%, and points (including the origination fee) increased from 1.22 to 1.34 for loans with 80% loan-to-value ratios, the MBA reported. The MBA can be found online at http://www.mbaa.org.
-
Better's home equity loan product can be originated in a week or less, the company says.
11m ago -
The top five producers had an average dollar loan volume of more than $140 million in 2023.
3h ago -
The threats to companies loom as borrowers face soaring homeowners insurance costs, ex-Ginnie Mae head Ted Tozer explains.
5h ago -
After several quarters of slumping investment banking and trading fees, the Charlotte, North Carolina-based company reported a big uptick from that division, which helped compensate for a large decline in net interest income.
April 22 -
The Federal Housing Administration, the Department of Veterans Affairs and the Federal Housing Finance Agency have started gathering data and analyzing how climate risk will impact the housing ecosystem.
April 22 -
The Federal Reserve's Office of the Inspector General says the Fed has yet to fulfill 65 recommendations, and also identified 18 outstanding issues at the Consumer Financial Protection Bureau.
April 22