While the Dow Jones Industrial Average retreated slightly on Friday from the all-time high it
Once again MGIC Investment Corp. led the gainers, this time up 1.8%, followed by OceanFirst Financial, up 1.66%, and Dime Community, up 0.91%. And MGIC again set a 52-week high for its stock price during the day’s trading.
Redwood Trust had the biggest percentage decline, down 2.86%. Next was Hudson City Bancorp, down 1.13%, and KB Home, down 1.04%.
Conforming loan limits are determined using a home price index. A congressman is proposing a switch to an income-based metric, creating more jumbo mortgages.
The effective tax rate, measuring taxes relative to home prices, also increased to its highest mark in five years, according to Attom's analysis.
The California-based lender announced Wednesday the addition of One Goal Mortgage, a branch serving the Omaha, Nebraska, metro area and Southwest Iowa.
Better is focusing on its U.S. mortgage unit, which reported higher-than-expected preliminary loan volumes and priced a stock offering.
A new Basel III proposal offers mixed results for warehouse lending, with some risk-weight relief for banks but tougher terms that could crimp credit availability for nonbank mortgage lenders.
Roughly a third of homeowners with a mortgage rate less than 6% would not give up their rate for any reason, according to a survey of 1,000 mortgage holders.
