Most members of the Mortgage Industry Equity Composite joined in the broad stock market rally Thursday that led to new record for the Dow Jones Industrial Average and the S&P 500.
Only two stocks—KB Home, down 2.33%, and Fidelity National Financial, down $0.01 or 0.04%—closed lower than they did
Meanwhile, MGIC Investment Corp. hit a 52-week high during the trading day and closed up 5.22%.
Investors also liked the results report from
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.
