Mortgage Bankers Association

While overall performance looks solid, the data shows the weight of economic concerns may be weighing on some borrowers, the Mortgage Bankers Association said.

July's growth in products correspond with a noticeable rise in new applications for adjustable-rate mortgages as borrowers respond to recent rate movements.

Panelists at the Mortgage Bankers Association's conference credited investors for helping create the conditions strengthening performance of non-QM portfolios.

In remarks at a Mortgage Bankers Association conference, the trade group's CEO also acknowledged the need for some guardrails to remain in place.

Despite data pointing to overall health, concerns about the direction of the economy are raised among consumers, businesses and investors alike, the Fed governor said.

The rate of new home sales picked up by 14% from the month prior, data provided by the Mortgage Bankers Association shows.

Government-backed lending drove an increase in purchase mortgages for a second straight week, even as interest rates failed to drive refinance activity.

The average size of purchase applications fell below the $400,000 mark, reflecting first-time home buyer interest, the Mortgage Bankers Association said.

January's median payment also grew at its fastest pace since October as volatile interest rates hit homebuyers' wallets, the Mortgage Bankers Association said.

At the same time builders and lenders report contracting credit on offer, sentiment in the residential construction industry improved in the latter half of 2024.

The latest refinance surge helped lift total application activity up for a second straight week, even as purchases fell, the Mortgage Bankers Association said.

Lenders increased offerings in jumbo and non-QM segments as the industry focuses on customers with strong credit, the Mortgage Bankers Association said.

A presidential memo on Monday imposed a pause on certain types of government funding until programs are reviewed to ensure compliance with Trump executive orders.

New chairs Nanci Weissgold and Bill Nelson both also sit on the trade association's board of directors.

The sales pace of new constructions in November was the third highest this year, according to the Mortgage Bankers Association.

The median monthly payment amount for new purchases moved higher for the first time in six months, according to the Mortgage Bankers Association.

Both purchases and refinances came in higher, with government-backed lending providing momentum, the Mortgage Bankers Association said.

Loan applications increased for the third week in a row, as borrowers responded to recent falling rates, the Mortgage Bankers Association said.

Purchases managed a small rise, but refinance activity held steady, according to the Mortgage Bankers Association.

While the total dollar volume of apartment originations fell last year, the number of companies making loans increased from 2022, the Mortgage Bankers Association said.