Gross lending in the United Kingdom totaled £29.4 billion (about $58 billion) in December, the highest ever for that month but down 11% from the all-time record reached in November, according to the Council of Mortgage Lenders, London."The commentators who thought the housing market would crash in 2006 were wrong," said CML director-general Michael Coogan. "Last year the market proved itself to be in robust shape, and we expect it to remain so during 2007." However, Mr. Coogan said recent increases in interest rates "might make many aspiring homeowners think twice about getting onto the property ladder, and we expect to see levels of activity dampen as the year progresses."
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
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Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
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Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
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Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
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