Mortgage Bankers Association

The forbearance rate continued recovering in lockstep with employment improvement, according to the Mortgage Bankers Association.

Consumer demand for larger properties is driving the market in an atypical year that featured a delayed selling season, the Mortgage Bankers Association said.

Mortgage applications slipped 0.3% from one week earlier, as refinance volume, particularly for Federal Housing Administration and Veterans Affairs loans, shrank significantly, according to the Mortgage Bankers Association.

The Mortgage Bankers Association sees rates rising over the next two years, while Fannie Mae expects the average to remain under 3%.

Rates could be 50 basis points steeper than the MBA’s current projections, which anticipate the 30-year mortgage will average 3.3% next year, up from nearly 3% this year.

Lenders also increased jumbo product availability as well as rolling out new SOFR-indexed ARMs.

The teams include people who previously worked for the Treasury and the Federal Housing Finance Agency as well as HUD.

More than six months after the CARES Act became law, the two entities joined a host of industry organizations in launching the COVID Help for Home campaign to educate borrowers on the next steps in forbearance.

Mortgage applications decreased 0.5% from one week earlier as inadequate housing supply is putting upward pressure on home prices and affecting purchase activity, according to the Mortgage Bankers Association.

The overall mortgage delinquency rate improved in the third quarter as the economy got healthier while late-stage delinquencies hit a decade high, according to the Mortgage Bankers Association.

The forbearance rate continued recovering in lockstep with employment improvement, according to the Mortgage Bankers Association.

Mortgage rates are currently the lowest in the history of Freddie Mac’s survey, but sharp differences of opinion persist on whether that will make this a $4-trillion year or not.

Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.

And an uptick from second-quarter numbers is attributed to seasonality rather than any upswing in the economy.

The forbearance rate improved to the a level not seen since early April, but getting back to pre-COVID levels will require employment gains or additional government stimulus measures, according to the Mortgage Bankers Association.

But for the first time in a month, fewer consumers refinanced into a government-guaranteed mortgage.

A booming housing market contrasts with a slow-to-improve job market, making for lopsided improvement in the number of troubled mortgages, according to numbers from the Mortgage Bankers Association.

First American Financial, Old Republic, Stewart reveal how the third-quarter results point their way forward.

As of the end of July, there were more than 1 million past-due mortgages not in forbearance plans, and the majority likely would have qualified for forbearance under the CARES Act.

But an expected drop in refinancings as mortgage rates rise should more than cancel that out, resulting in declining overall volume through 2023.